The cost of a wedding is up there with the purchase of a new car or the deposit on your forever home, so it makes sense to protect your investment. Yet, many couples cut wedding costs in all the wrong places, choosing to forgo wedding insurance to ensure more money in the kitty for all those little luxuries.
Just a quarter of marrying couples choose to insure their wedding. But whether you’re having an indoor or outdoor wedding, we believe that taking out wedding insurance is a must. Here, we discover why in this essential guide.
What is wedding insurance?
As the name suggests wedding insurance is an insurance policy you take out to cover the cost of many wedding related services and products should something go wrong. Perfection is one thing every couple hopes for when planning their wedding but problems do arise. Wedding insurance safeguards the finances you’ve invested.
What does it cover?
Like with standard insurance policies, it is important to be clear on what’s covered and what’s not when taking out wedding insurance. Every policy is different, but selected products can cover the cost of the entire wedding – should you need to cancel it for a specific reason. Circumstances that can be covered include if your wedding has to be cancelled or rearranged due to venue damage or the death of a close relative.
Bad weather can also cause much disruption, and most insurers cover this if it causes the complete cancellation or rearrangement of a wedding too. Policies can also reimburse you financially should a supplier that you have enlisted fail to provide their services or products as promised.
Many policies protect against the theft or damage of numerous wedding items. The cost of your wedding dress, bridesmaid dresses, groom and groomsmen’s suits, gifts, photographs, wedding transportation, cake, and flowers can all be covered.
You can also be reimbursed for problems that happen on the day, such as the cost of arranging alternative suppliers, replacing wedding garments, and retaking wedding photographs or videos.
What doesn’t it cover?
Many unfortunate circumstances are covered by wedding insurance. It is important to note however that policies don’t cover a change of heart. If you choose to cancel or rearrange your wedding due to personal issues that are within your control, you will not be reimbursed.
Cold feet are not justifiable grounds to claim, neither is cancellation due to financial difficulties (redundancy is covered by most insurers) or a pre-existing medical condition. Check the small print carefully before taking out a policy.
You may also need to take out specialist wedding insurance to cover the use of a ceremonial sword, marquee hire, or getting married abroad.
Should I take out insurance?
Many wedding insurance policies are available from just £19, which means safeguarding yourself from the financial and emotional stress that could be caused if a problem should occur doesn’t have to cost the earth.
The Guardian offers a few words of advice on choosing the right insurance policy for your wedding:
“Work out how much you are going to spend on each wedding item, then find a policy that covers everything on your list at the right amount for each individual item… Honeymoons are not covered as standard, although some providers will bundle yours in (at extra cost, of course). So bear in mind that you might have to buy separate honeymoon cover or take out a travel insurance policy.”
There are a number of wedding insurance providers to choose from. We recommend Wedinsure, a company who specialises in providing financial protection so your big day can go ahead without a hitch.