While flicking through a wedding magazine this morning, a flyer for wedding insurance dropped out, my initial reaction was “Crumbs, whatever next?”
There are so many things to budget for during wedding planning, so is a wedding insurance policy just an extra and unnecessary expense? What could go wrong? With the average cost of a UK wedding now around £15,500, protecting yourself with wedding insurance could be something to consider. I realised that if Richard and I had taken out an appropriate policy, our wedding may have been rescheduled.
Just a couple of days before our wedding I was lying in a hospital bed, wondering if there was even going to be a wedding. Having weighed up the pros and cons of cancelling, along with guests having made arrangements for travel and accommodation, the most significant consideration was all the money that had been stumped up. We didn’t have a big budget wedding, but the non refundable supplier deposits and services paid for up front meant that we simply couldn’t rearrange the wedding in any hurry. We’d already accepted that our honeymoon was gonna be out the window for a few weeks. This was made even more depressing as the holiday insurance would not cover us under our particular circumstances.
After some tears and chats, we decided that the wedding would go ahead. Having not been able to contribute to the finishing touches, things weren’t perfect and I felt and looked like death on the day. However, despite the underlying upset and agony, it was the happiest day of our lives. But, in all honesty, if we could go back and not have the financial ramifications to consider. We would have rescheduled.
So, am I saying “get wedding insurance”? No I’m not. If Richard and I had taken a policy out, the chances are that the exlusions would have meant we weren’t covered anyway, just like the holiday insurance.
My advice would be to consider it, and research the various policies on offer. Typical exclusions include:
- Bride and Groom deciding not to marry
- Pre-existing medical conditions
- Circumstances known to you at the start of the policy
- Loss by deception, willful or malicious acts of vandalism
If you take out a wedding insurance policy and something goes wrong, you can typically expect the following cover:
- Canncellation and expenses
- Supplier deposits – non refundable deposits, should suppliers experience financial failure, or don’t show up
- Loss or damage of wedding attire
- Photographs/DVDs – loss or damage of photographs/DVDs, retaking to photographs/videos, no show of photographer/videographer
- Wedding gifts – Loss or damage
- Rings – Loss or damage
- Cake – Loss or damage
- Personal accident – injury during period of cover
- Wedding cars/transport – no show or breakdown of transport
- Guidance, should your day not go ahead
- Legal expenses
- Public Liability
- Flowers – Loss or damage
- Wedding stationery – Loss or damage
- Wedding documents – Loss or damage
- Luggage/property – Loss or damage
- Delayed travel – costs incurred for delayed honeymoon
To compare wedding insurance policies visit http://www.compareweddinginsurance.org.uk/