Confetti believes every couple should budget for wedding insurance, just in case. But how much does insurance cost and what exactly do the policies cover? We’ve asked Adam Leyton from CompareWeddingInsurance.org.uk to talk you through the options.
“If you’re worried your future husband will change his mind, maybe you shouldn’t be marrying him.” This is something we hear far too frequently and it’s a common misconception about the purpose of wedding insurance! So what is it then, what does it cover you for and why should you buy it? Couples in the UK spend, on average, around a staggering £15,000 on their wedding day. That’s a similar amount of money to a brand new family car or a deposit on a house. You certainly wouldn’t consider not having insurance for your car or home and the same logic should apply to your wedding day too.
What does wedding insurance cover you for?
Wedding insurance provides you with the financial peace of mind that should anything unexpected happen before or during your big day, you won’t be left facing a huge bill too. It can cover you for financial losses as a result of things like:
- Cancellation of your wedding as a result of death or illness or perhaps extreme weather that prevents you or the majority of guests from attending.
- Damage to your dress or hired suits.
- Problems with your photographs, for example damage to film or memory card failure. Your policy would pay for you to re-stage the wedding to take new photographs.
- Public liability claims.
- One of your suppliers going bankrupt resulting in a lost deposit and needing to find a new supplier, often at short notice.
- Failure of suppliers – your wedding cars not turning up on the day, for example, and needing to arrange alternative transport at very short notice.
In fact in one study, the most common claim on policies was for bankruptcy or liquidation of suppliers – hardly a surprise given the current economic climate! The main thing that’s excluded from wedding insurance policies is cancellation as a result of ‘cold feet’ or ‘disinclination to marry’ as the insurers put it. You’re usually not covered for “known risks” either, so if you’ve heard a supplier may be going out of business before you buy a policy, you probably wouldn’t be covered for that particular situation.
How much does wedding insurance cost?
It’s actually very reasonable! Policies start from around just £20 and cover for an average wedding budget is available for £45-£50, a small price to pay for peace of mind.
Top tips when buying a policy
Take out cover as soon as you can! Many insurers will cover you for up to 24 months before the big day. Whilst the majority of policies will cover you for deposits you have already paid (providing there’s no ‘known risk’ when you take out cover) there are a few that don’t so always read the policy wording carefully.
Make sure you take out sufficient cover. We all know that wedding budgets can creep so make sure you have enough cover. If the worst happens and you have to make a claim, you certainly don’t want to find out that you’re under-insured.
Don’t forget that your honeymoon isn’t covered by wedding insurance so make sure you take out separate travel insurance too.
Don’t just compare on price as cover and terms do vary. All insurers should have their policy wordings prominently available on their website and they should be written in clear English too. Take the time to see exactly what is and isn’t covered.
About the author
Adam has run comparison website CompareWeddingInsurance.org.uk since 2009. Firmly established as one of the leading online resources on wedding insurance, the FAQs, articles and comparison table on the website provide plenty of useful information to help you find a wedding insurance policy to cover your big day.
Take a look at our directory listing in the Wedding Insurance category and get cover for your wedding today!