What Engaged Couples and Newlyweds Should Know About Protecting Their Assets

June 28, 2010 - PRLog -- Wedding bells ring about 2.3 million times each year around the country, and June is the most popular month for tying the knot. As the big day approaches, most couples pore over details such as flower arrangements, seating assignments and life after marriage. However, most newlyweds probably haven’t thought through the next step—protecting their valuables before and after the big event.

For future brides and grooms and recent newlyweds, combining assets under one roof takes more than a moving van and space for all their belongings. Every couple planning to build a life together should take prudent actions to protect their gifts and good wishes soon to come.

Scheduling the Ring
A radiant diamond engagement ring glittering on the bride’s finger isn’t only an attractive symbol of a couple’s new union; it’s also a new asset that should be insured. Just as you would insure a new car before driving it off the lot, you should insure a new ring either before or just after it leaves the jewelry store.  

Allstate encourages newly engaged couples to have rings scheduled for insurance coverage. Scheduling an engagement ring provides an opportunity for couples to secure a personal property endorsement for the full appraisal amount.  

“This is one of the first steps future brides and grooms should think about,” says Allstate New York spokesperson Krista Conte. “With everything else to plan for an upcoming wedding, it makes sense for future brides and grooms to protect their newest and probably their most meaningful asset.”


Engaged Couples Endorsement
Scheduling an engagement ring for coverage is a convenience Allstate insurance agents offer as part of a broader engaged couples endorsement. This is a free endorsement for future and new brides who also carry Allstate condominium or renters insurance. As wedding registry gifts pile up, couples should consider insurance protection for gifts that may sit unattended in boxes.

Once an Allstate agent is informed about a couple’s engagement, the couple may receive coverage for up to 90 days following their wedding on gifts stored at home or at a storage facility within the same state. Allstate’s engaged couples endorsement provides 100 percent coverage of the gift contents’ covered loss value against potential theft and damage. Coverages differ for those carrying Allstate homeowner’s insurance.

Building for the Future
There are several factors all new couples should consider when planning their insurance protection.  Couples need to decide whether to rent or own a home together, to use or store cars, and to keep, store or get rid of specific items. “Combining households and insurance policies calls for a detailed plan,” Conte added. “Meeting with an insurance agent is important to make sure a couple’s coverage needs are addressed and taken care of before and after the wedding.”
 
The honeymoon period is never over for newlywed couples looking to secure their futures with proper insurance protection for their current and future holdings. With the pre- and post-wedding coverage options from Allstate Insurance, couples can afford to focus on other aspects of their new lives.

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The Allstate Corporation  is the nation’s largest publicly held personal lines insurer, reinventing protection and retirement to help more than 17 million households insure what they have today and better prepare for tomorrow.