Hiscox advises newlyweds against under insuring
by Richard Kilner
Story link: Hiscox advises newlyweds against under insuring
Specialist insurer Hiscox has commissioned research which has revealed that 53% of professional couples are leaving themselves open to under insuring by failing to inform their insurance company of the wedding presents they receive.
Home contents rise in value by an average of £12,000 following a wedding.
In a tenth of cases, wedding gifts alone add £10,000 to the value of a couple’s home contents.
Over a fifth of goods are designer products, and almost a seventh are family heirlooms, which of course have a monetary value but are frequently of priceless sentimental worth.
Almost four in ten couples are unaware of whether their wedding gifts are covered by contents insurance, and more than half do not review their contents or update their insurer.
Hiscox’s household insurance expert Austyn Tusler has pointed out that whilst home contents insurance is understandably not at the top of the wedding itinerary, it is nevertheless worth quickly checking to make sure that everything is appropriately covered.