TORONTO – May 17, 2011 – Wedding season is upon us, and with all the planning and preparation that goes into the big day, it might be easy to overlook simple modifications you can make to your insurance policy that can help save money. Knowing what insurance options are available to you and your partner will assist you in making wise choices to ensure you are properly protected.
“Getting married is an exciting, yet stressful time, so you don’t want to have to worry about insurance on top of everything else,” says Karen Benner, official spokesperson for Allstate Insurance Company of Canada. “By making simple adjustments to your home and car insurance policies you can better protect your belongings and property, giving you one less thing to worry about as you start your new life together.”
To guarantee newlyweds protect what they have today and better prepare for tomorrow, Allstate Canada offers these tips:
- Home insurance – Whether moving in together for the first time or moving to a new home, you should create a new insurance policy with both partners names on it. If you plan to renovate your current home after the wedding, then it is important to review your current policy before the renovations begin and again once they are completed to protect your investment. Renovations can affect the amount of coverage you will need on the policy.
- Auto insurance – Work with your insurance agent to find the best policy for you and your partner. If you are now sharing a car, your spouse’s driving history may affect your rate. If you both have cars, but are insured by different companies, think about consolidating the policies with one insurance provider. A multi-vehicle discount will help save you money.
- Jewelry and gifts – Engagement and wedding rings, expensive watches and jewelry or valuable wedding gifts should be added to your home insurance policy. Most home or tenant policies will insure these items, but often with limitations. If your valuables exceed this amount, you will need an additional policy to add to your home insurance for the item(s). In addition, engagement and wedding rings must have a current appraisal document (less than two years) to be insured.
- Wedding day and honeymoon – While your wedding celebration should be wonderful all around, it is prudent to consider that unfortunately wedding crashers may attempt to walk away with gifts in hand. It is a good idea to ask a trusted friend to look after the gift table. Before heading on the honeymoon, install a home alarm system, or pay a subscription fee to an alarm company, to monitor your house while you’re away and protect your valuables and wedding gifts from theft. Newlyweds should be cautious about what is shared on social media networks such as Facebook, Foursquare and Twitter, as thieves can use information from these sites to see when people will be out of town.
For more information about saving money when you tie the knot, visit goodhandsadvice.ca.
About Allstate Insurance Company of Canada
Allstate Insurance Company of Canada is one of Canada’s leading producers and distributors of home and auto insurance products. “The Good Hands Network®” enables consumers to contact Allstate Canada through one of 94 community-based Agencies, directly online at www.allstate.ca and through the Customer Contact Centre at 1-800-Allstate. Allstate Canada is committed to making a positive difference in the communities in which it operates and has partnered with organizations such as Mothers Against Drunk Driving (MADD Canada), Crime Stoppers, United Way and Junior Achievement. In 2010, Allstate Canada, in partnership with the National Hockey League Players’ Association (NHLPA), created the Allstate All-Canadians program, a mentorship program designed to guide the next generation of Canada’s hockey youth. Learn more at www.allstate.all-canadians.com.