Wedding Insurance covers a range of financial losses you could experience, relating to your wedding arrangements, that are beyond your control. This could be anything from your venue going bust a month before your wedding or the groom’s tuxedo going missing a day before the wedding. For some couples, having wedding insurance in place gives them peace of mind as the big day approaches, knowing they are protected against unforeseen events beyond their control.
Do You Have to Have Wedding Insurance?
Wedding insurance is a sensible option for anyone worried about something going wrong in respect of their wedding plans. According to recent research, 71% of couples worry about the cancellation of their wedding, and 25% worry that suppliers might let them down. Therefore, for these couples wedding insurance is the best route to take if they want peace of mind to ensure that they are not going to lose out if the worst were to happen.
As well as this, the cost of weddings is on the rise. The average UK wedding now costs around £27,161, and if you’re investing so much money into one day it makes sense to make sure you’re protected. No matter how well you plan your wedding, when the unexpected happens you want to be prepared.
What Does Wedding Insurance Cover?
All wedding insurance policies offer different levels of cover, so you should always read the policy wording before you commit. Typically, wedding insurance covers the following…
- Having to rearrange elements of your wedding, such as a change of venue if your original venue goes bankrupt or is damaged by floods, or even for rearranging the entire wedding.
- Items lost, damaged or stolen, such as your wedding rings, attire, cake and presents.
- Damage to the wedding venue, such as a ripped carpet, burn marks or broken furniture.
- Costs which you paid out but didn’t get the benefit of, for example, if you paid a deposit to a DJ who then went out of business before your wedding, or even for the cost of your entire wedding which, for reasons beyond your control, you had to cancel.
What Doesn’t Wedding Insurance Cover?
Depending on your level of cover and policy provider, what it doesn’t cover will vary. Typically, you will find wedding insurance does not cover the following…
- Cold feet
- Pre-existing conditions that cause cancellation
- Your honeymoon. You will need to take out separate travel insurance to cover your honeymoon.
How Do You Choose a Wedding Insurance Policy?
With so many choices it’s hard to know exactly which insurance product to choose. One survey found that 96% of couples bought their wedding insurance online, and 80% used a comparison website first. A great place to start when researching wedding insurance is Feefo, for honest customer reviews and comparison sites.
How Much Cover Do You Need?
Some weddings are extravagant affairs, others are more intimate, some are church weddings, others are civil ceremonies or traditional celebrations. Whatever you plan will affect your costs, so make sure your insurance covers all the key things, at the right level, and you’re not paying for cover you don’t need.
Your wedding insurance policy should cover the amount you are spending on your big day. If your plans change, some insurers will allow you to amend/upgrade your policy to fit your new plans.
Will a Home Insurance Policy or Paying on Credit Card Already Cover Anything?
Paying by credit card can give some protection, but it doesn’t mean you are fully covered. For example, credit cards do not cover personal liability or someone falling ill.
Home insurance can provide cover for portable items such as your wedding rings or wedding dress, but you should always check your home insurance policy wording first to see what it covers.
Do You Need Specific Insurance for Certain Types of Wedding?
When you book a wedding abroad you will need to book separate insurance. If you are considering having a marquee wedding you will also need to look for separate insurance to cover this. If you are unsure, always check with your wedding insurance provider to ensure you have the right amount of cover.
Guest post by WeddingPlan Insurance
Image from Tom Leishman of Picture My Love