Planning a wedding requires great thought and attention to detail; however with so many details to consider, it can be easy to overlook certain aspects. Proper insurance coverage is one of those often-overlooked details. Maybe it’s because the task is considerably less glamorous than trying on a dress or picking invitations, but this omission is one that could cost you a fortune if overlooked—which we’ve unfortunately seen here at Western. Here are a few particulars to consider as you plan:
Your Rings are More Than Symbols
Engagement rings and wedding bands are a symbol of your marriage, but they’re also worth plenty in the real world, so you need to protect them. Rings—and wedding gifts – can have a huge impact on the value of your possessions. A recent insurance study by Western Financial Group showed that 10 per cent of Canadians have absolutely no idea of the value of their home’s contents. Your big day is a great time to update your existing contents coverage to make sure you’re existing contents coverage is sufficient.
Beware of Unofficial Venues
With many weddings, the action spills outside of the official venue and ends up in someone’s home, with guests staying over or attending pre or post-wedding parties. Include these costs in the budget by accounting for extra refreshments and higher energy and heating bills. You should also take precautions around possible property damage or other liabilities; for example, if a guest gets intoxicated and drives, you could be liable. Talk this through with your broker before you invite the group back to your house.
Expect the Unexpected
Even the most carefully thought-out wedding and honeymoon can include surprises. While you probably have contingency plans for accommodation, food and drink shortages, and even foul weather, there are still other matters to take into account. Make sure you have coverage in place to protect you from gift theft or travel cancellations.
You have invested so much to make your wedding and honeymoon some of the happiest times in your lives, so get the most thorough protection imaginable so you can focus on what really matters.
Western Financial Group is a diversified insurance services company that serves more than 800,000 customers across Western Canada. Western provides personal and business insurance services through more than 160 locations and affiliates and online at www.westernfinancialgroup.ca.