'Tis the season to get insured
For couples in Australia, Summer is “Engagement Season” with research revealing December to February are the most popular months of the year for engagements.
In fact, of the top 10 days to get engaged in Australia, December, January and February occupy 7 of the most popular dates.[1]
However, what many newly engaged couples don’t think about are the financial elements of marriage such as health insurance, car insurance and even travel insurance for the honeymoon. Getting on top of these elements early can provide couples with big savings while helping them avoid costly expenses over the course of a marriage.
So, if you just made plans to tie the knot (or are about too…) now is the ideal time to ‘engage’ in some serious insurance admin.
Plan for when 2 become 3, 4, 5, …
While you and your partner may be covered by an existing policy, any children you may have along the way are not covered unless you move to a family policy. Once you upgrade to family cover, make sure you add any new members of the family to the policy as soon as you have them. Even a furry addition to the family can be covered under a separate pet insurance policy.
Put a ring on your car insurance policies
If you and your partner both have cars, multi-car policies can potentially offer great savings and a lot less paperwork.
Don't get off to a rocky start on your honeymoon
While Medicare will cover your medical costs domestically, this is not the case in other countries where doctor and hospital bills can run into thousands. Travel insurance is relatively inexpensive, compared to the cost of a honeymoon and covers you for a variety of things that can go wrong such as overseas medical expenses, lost luggage and flight cancellations.
[1] https://www.easyweddings.com.au/business/wp-content/uploads/sites/11/2019/07/Easy-Weddings-2019-Survey.pdf
