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Phone: (713) 681-2500

Fax: (713) 684-1600

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STORM SEASON
Important Note:

June through November our agency may become prohibited from binding coverage should a “Tropical Disturbance” enter the Gulf of Mexico or Caribbean Sea.

In these cases we may be unable to bind new coverage quoted in open proposals until the storm leaves our area and our binding authority has been restored.

Please arrange your coverage protection early to avoid this type of delay. While we regret any inconvenience, the carriers impose these restrictions on all agencies.

Who Pays For the Wedding?

Nearly all weddings can be quite expensive, the average wedding cost hovering around $28,000. Luxury weddings can easily cost $100,000 or more. (Your location has a huge influence on cost.)

* Rural weddings can cost an average $18,000…
* East Coast cities see an average cost of around $85,000…

These high costs have led to a dramatic increase in financing weddings.

Tradition has long held that the bride’s parents will cover the bulk of the costs but this is a heavy responsibility to bear that is calling more and more for cost-sharing.

Here’s a common cost sharing plan:

* 45% – Bride’s parents
* 43% – The couple
* 12% – The Groom’s parents

Costs can invariably run out of control. This is particularly true for an event as emotionally charged as a wedding.

Wedding Planners and Financial Planners can offer some great help for controlling costs…

1. The Wedding Planner

An effective wedding planner will provide solid and time-tested help on how to best make the wedding a success. The advice
offered by the wedding planner usually includes the following:

a. Budget

The wedding couple needs to understand their financial constraints. They need to prioritize what they need to make their wedding successful. Both partners of the couple should be involved in determining priorities.

b. The Date and Venue

Wedding costs will go up for weddings held on Saturdays, especially during the months of April through October. Good deals can be found by having week day weddings. The venue of
the wedding is equally important with 5-star locations in the heart of the city being the most expensive.

c. Be Realistic

It’s best if both partners have clear and realistic expectations of what their budget will allow them to accomplish. A bit of clever work can often stretch a budget.

2. The Financial Adviser

Given the high costs of weddings, involving a financial adviser can be helpful.

a. Avoid Large Loans

Big loans can take a long time to repay. Some advisers suggest a home equity loan with low repayment rates may be a good way to go.

b. Give Lump-sum Gifts

A lump-sum gift can be given to the couple and spaced out in a way that is strategically valuable to the couple.

c. Be Conservative on Guest-lists

The guest-list count should be as low as realistically possible. The rule of thumb is to cut the list until it is no longer realistically possible to cut it further.

Final thoughts…

If you are thinking about getting married or if you have a child that is tying the knot, be sure to reach out to us for money saving tips. We’ll also help you understand how life changes may impact things like your insurance as well.