Something I get asked about more and more is wedding insurance – what is it?, is it worth it?, do i recommend it? etc. so I thought I would put a little article together to try and answer some of those questions
What is Wedding insurance?
Wedding insurance is a policy you take out to cover you if something goes wrong on your big day – this can be something simple such as a lost piece of jewellery, failure of a supplier, a ripped dress or even the closure of a venue.
Do I need wedding insurance?
With the average cost of a UK wedding now at around £20,000 the need for wedding insurance depends on how you are paying for your wedding, if most, or at least the most expensive parts are paid for by credit card you should be covered under the consumer credit act, section 75 – this covers items from £100 to £30,000. However on the other hand if you are paying by any other means such as debit cards or bank transfer I would defiantly recommend having wedding insurance in place – while on the subject of payments, I would always try to avoid cash payments wherever possible as they cant be traced or verified if you loose a receipt.
What will I be covered for
Every insurance policy is different therefore I would recommend shopping around to find the perfect policy for you and your wedding – however most policies cover for cancellation or rearrangement of a wedding due to accident, illness or bereavement within the main wedding party, or even if a supplier goes out of business which can and does happen. Most policies also cover loss or damage (due to accident, fire or theft) to the main wedding outfits, presents, rings, the cake and flowers, as well as the price of having to retake photographs and video, failure of wedding cars, and personal liability and legal expenses. To help you get the best policy you can even use policy comparison sites to compare the various companies that offer wedding insurance
Most insurers offer various levels of cover depending on the cost of your wedding, to ensure you have sufficient level of cover I would recommend using a simple spread sheet to list all the costs associated with your wedding – if something isn’t booked yet simply put an estimate to how much you are budgeting for that part of the wedding
What’s not covered
You are not covered for events you have prior knowledge about, you are also not covered if you or your partner changes their mind. Most policies cover you for left however there’s usually strict conditions to this, such as items not covered if they are stolen from a vehicle unless they are locked out of sight in the boot. You may also need to take extra cover for specific items such as ceremonial swords or to cover you for your honeymoon
What’s the cost
Considering the average cost of a UK wedding is £20,000 – being insured not only makes sense it also represents fantastic value for money with policies ranging from around £40 to £300 – this relatively small cost should give you piece of mind that if anything does go wrong you will be covered