Do I need Wedding Insurance and What is it?
When talking to friends that have recently married, you’ve possibly heard stories of things going wrong at their wedding. This can vary from the wedding party losing their way to the wedding ceremony, the wedding cake’s icing not set properly and falling over can be very common, the other one you read about is occasionally the wedding photographer not turning up.
Whilst most unexpected wedding happenings are not really disasters as such and certainly not as serious, never the less, they can cause a degree of stress and ultimately cost money to put them right. This sort of occurrence is exactly where wedding insurance can be invaluable.
Having insurance can’t protect you from every happening, it can protect you from a number of wedding disasters that can vary from venue or other supplier cancellations to bad weather.
As a result, If you are currently planning a wedding, then you would be wise to definitely consider purchasing some form of wedding insurance.
This article goes into the detail and discusses what wedding insurance actually is and gives the reasons why you need to consider having it.
What is Wedding Insurance?
It is just like any other insurance that you may have purchased for examples such as house contents, holidays etc. Like others it is a means to prevent you from potentially significant financial losses should something go wrong. In the case of wedding insurance it is in effect event insurance should something not go as planned with your wedding.
Typical examples are,
Should a wedding planner go out of business then wedding insurance would help you recover any lost deposits.
If your wedding was canceled due to extreme weather conditions or national emergencies such as the recent Covid Pandemic, your wedding insurance is likely to reimburse other non-refundable expenses like hotel rooms and air travel.
There are other items too that can be covered that you may not have thought of. These could include vendor cancellations, accidental damage at a venue, or in the unfortunate instance of a death of a family member.
How much does Wedding Insurance Cost?
Like all insurances, it is worth doing your homework and comparing different policies. Typical cost of wedding insurance is approximately £150ish, but can be from as little as £30 to anything upwards of £500.
Although there appears to be a massive difference in price ranges, it is worth checking very carefully what is covered in the policy The price of wedding insurance will varies depending on different things that you would want to have covered in the policy e.g. the location of your wedding and number of guests, the coverage you need, and like other forms of insurance, the amount of ‘Excess’ you’re willing to pay.
As an example, a small wedding with only 40 guests, probably wouldn’t need the same level of cover as a very large wedding with hundreds of guest and taking place abroad.
Another example could be, if you’re concerned about potential weather conditions you might go for a policy with better cancellations and/or postponements.
At the end of the day, the best way to calculate how much wedding insurance you need is to speak with an insurance agent who specialises in this area and will help you understand the different coverage options and select a policy that best suits your requirement.
Overall, wedding insurance isn’t required as an essential option but it can give you peace of mind. You would have peace of mind knowing that you’re covered for any big disasters. You would know that if something did go wrong, the fact you have wedding insurance could enable you to recover some of the expense that you committed to and enjoy what’s important, that of enjoying your new wedding.
So should I take out Wedding Insurance?
The best way to think of it is like all insurance policies, you buy it but hope you never need it! As an example, if your wedding day was canceled due to an injury, or any other unforeseen circumstances, the money that you’ve spent on vendors, deposits etc. would potentially be lost.
Wedding insurance is designed to protect you from such a financial loss.
The average cost of a wedding in the UK is around 25 – £30,000. However, this does depend on the size and location etc.
Most wedding suppliers require a deposit to secure their services. These deposits are usually non-refundable should the wedding be canceled. Having wedding insurance would probably cover you for these non-refundable deposits.
Wedding insurance can also covers many other costs such as the cost of rescheduling or hiring a new venue if the original venue became unavailable.
In summary, wedding insurance is a good thing to have and could save you a lot of money and undue stress in the event of some form of cancellation or postponement.
If you’re still undecided about whether to purchase wedding insurance, we recommend doing some homework to calculate what type of coverage is right for your wedding.
Like all insurances, there are many different policies available, so it’s important to find one that fits your exact needs.
Would my Honeymoon be covered under my wedding insurance policy?
For most couples, the cost of the honeymoon is a great part of their wedding budget.
This is one of the most frequent questions insurers get asked is whether the honeymoon costs are covered under a standard wedding insurance should the couple decide to cancel their wedding.
The answer to this question is unfortunately No.
You would need to take out a separate travel insurance policy for your honeymoon just as you would for any holiday.
There are some things that you could do to try and recover some of the monies spent.
As an example, if you had to cancel your honeymoon due to a covered reason under your wedding insurance policy (e.g. the illness of a close family member), you possibly could get a refund on any non-refundable travel expenses.
As stated above, it’s always advisable to check with your insurer beforehand to see what would be covered or not.
What sorts of things aren’t covered by wedding insurance?
There are items that aren’t usually covered under a standard wedding insurance policy.
These items can include,
Cancellations due to change of mind.
Expenses incurred if the wedding is postponed for no specific reason.
Loss or damage to gifts at the wedding venue.
The couple deciding to separate before the big day.
A very topical question today – Is Covid covered by Wedding Insurance?
The question of whether Covid is covered is difficult to answer.
This is because although it’s been over four years now, the virus is still fairly new, and many insurance companies are still developing their policies to cope with the virus.
It’s probably worth shopping around and asking that specific question and having it in writing.
In the meantime, we recommend always checking with your insurer to see if they do have specific cover.
How would I make a claim on your wedding insurance if I had it?
Making a claim on your wedding insurance should be relatively easy. If something should go wrong on your wedding day, you don’t want to worry about is whether or not you are covered.
Here are the steps to make a claim:
- Contact your insurer as soon as you know something has happened.
- Complete the insurers’ and return. You will need to include any supporting documentation, such as receipts, quotes, photographs etc.
- You will receive payment once your claim has been processed.
It is important to remember that if you’ve paid for insurance, it is there to protect you from anything going wrong.
In summary, if something did go wrong, you should make a claim.
Have you got your wedding insurance sorted?
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Thanks for reading!
