Congrats, you are newly engaged! Bottles have been popped and cheers have been made in celebration of this special moment in your lives. Excitement sinks in heavy as you begin preparing for the big day. You’ve spent your whole life dreaming about your wedding day, and to imagine it going any other way than perfect is far from the case. Despite your positivity, it can’t hurt to do some planning for potential setbacks as you continue to devote precious time and money into your big day. Below you will find some advice and tips for newly engaged couples on how to protect big purchases to ensure that their special day goes off without a hitch!
Ring Insurance:
You just promised to spend forever with your partner, which means you will be rocking a valuable shiny accessory for the rest of your life. With this comes responsibilities, such as taking the proper steps to ensure your favorite piece of jewelry is forever safe.
Whether you accidentally lose your engagement ring jumping in waves at the beach, lose a stone while gardening, or have your ring stolen, ring insurance not only offers financial protection but also peace of mind when you need it most. Of course, anything happening to your engagement or wedding ring is tragic, but knowing that it has been properly insured can help soften the blow.
It is important to ensure your rings as soon as possible. In fact, it’s smart to start thinking about ensuring your rings the moment they are purchased so that you and your fiance can begin the process of searching for insurance providers. These sites often have relationships with insurance providers and can be a great resource for starting the process.
Are you unsure what the value of your rock is? Then getting your ring appraised is a wise choice. Besides, you can’t protect the value of your ring if you don’t know what it’s worth, now can you? Before making any decisions, do some research to make sure your potential appraiser has the proper credentials. It is never a good thing if the appraiser inflates the value of your ring. Of course, you will be elated when the rock that cost your partner a certain price appraises for double! However, you could face the potential of losing money in the long run by paying a higher monthly premium for a ring that was appraised double what it should have been.
Just like any major purchase, your rings are an investment and a smart one at that! As the years’ pass, the value of your ring will likely go up from when it was purchased. It is important to have your ring re-appraised every two to three years for insurance purposes. For the most accurate appraisal, consider going back to the same appraiser each time.
Wedding Insurance:
It is no secret that a lot goes into planning a wedding, especially when you want every detail to be perfect and fit within your vision. Emotions will be running high and so will the costs, which is why is it important to protect the purchases you make by ensuring your wedding day. With everything that goes into a wedding, you may become preoccupied with the things that need to happen, rather than the things that could happen.
Unfortunately, you are responsible for any costs associated with accidents, unexpected damages to the wedding venue or a wedding cancellation. Wedding insurance can come in handy if there are unexpected changes made due to weather if you have to restage photos if your photographer fails to show up, and reimbursement expenses to repair or replace your wedding dress or other wedding attire that could get damaged.
The option of purchasing liability insurance for your big day can be a useful move as well. This particular insurance will protect you from claims of legal liability for injuries, alcohol-related incidents or property damage in case your party-hardy guests celebrate a bit too hard.
Another tip to keep in mind when planning your wedding is to use your credit card for purchases as much as possible. In the unfortunate event that a business or venue you hired can no longer provide the service you asked of them, it will be easier to pursue your legal right to dispute charges for goods or services you didn’t receive. Unfortunately, circumstances may not be the same if you pay by cash or check.
Hiring a well-experienced wedding planner is another way to minimize your risk of any wedding day catastrophes. Having an experienced wedding planner to refer you to trustworthy vendors that they have built professional relationships with can help any couple sleep easy at night.
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