A wedding insurance policy (or civil partnership policy) protects your finances if something goes wrong, putting you in the same financial position as you were beforehand. If your dress gets ripped or your cake goes missing, your wedding has to be cancelled or postponed then you’re covered.
Do you need wedding insurance cover?
Wedding insurers usually provide a choice of cover levels to suit your wedding. It depends on how much you’re spending on the wedding, and your attitude to risk. You might feel fine leaving everything to fate, or you may be the kind of person who buys insurance against every eventuality.
First, check what might already be covered. Paying by credit card means your finances should be protected as long as the cost of the item is more than £100 and less than £30,000. Section 75 of the Consumer Credit Act means you can claim your money back, even if you only paid the initial deposit by card, in some circumstances.
The same goes for the Mastercard or Visa ‘chargeback’ facility, ideal for goods worth less than £100. Your ordinary home insurance might also provide cover for weddings, or the potential to add wedding cover for a small extra premium.
If it turns out you do need stand-alone wedding insurance cover, what does it give you? Every policy is different, but they all tend to cover the same suite of basic risks: wedding / reception cancellation or rearrangement because of accidents, illness or redundancy, bereavement in the main wedding party, or a supplier going bust.
It will probably include cover for accidental loss or damage, plus fire and theft, protecting your wedding outfits and gifts, rings, flowers and cake. Wedding photos are covered, for example if they can’t be printed because the film, negatives or digital medium have been damaged. Plus you get wedding car breakdown cover, personal liability cover and legal expenses.
What doesn’t it cover?
You can’t claim for a situation you already knew about, of course. If the relationship breaks down you’re not covered. If you can’t afford to go ahead with your wedding after all, it isn’t covered. And take care with the small print – some policies don’t include theft from cars unless the stolen items were locked away in the boot.
Few insurers cover the honeymoon itself but some can include it if you ask, at an extra cost. On the other hand you might already have an annual multi-trip travel insurance policy covering honeymoons. Check first so you don’t end up paying for insurance you don’t need.
If your policy doesn’t cover the marquee, oddities like ceremonial swords and essentials like public liability cover, or it doesn’t cover weddings abroad, you can often arrange for special add-ons.
How much of the cost do I insure?
Insure the total cost of your wedding, including the venue hire, food and drink, outfits, rings, flowers, transport, cake, stag and hen parties and stationery, the lot, plus a sum to cover your wedding gifts (according to First Direct, gifts are usually worth around £5,000).
When should you buy cover?
You might start organising your wedding as much as two years before the big day, in which case you’ll need insurance from day one. But you can still buy cover once you’ve paid for the reception, venue and so on, sometimes a better idea because by that stage you have a more accurate idea of what the whole thing will cost. In fact you can buy cover right up until the day of the wedding if you like.
How much does wedding insurance cost?
It depends on the level of protection you choose, the insurer and the cost of your wedding, the sum you’ll be insuring it for. Cover can cost as little as £30 to more than £200.
It’s unlikely you’ll need to make a claim. But if you do, make sure you have the paperwork you need to claim quickly with the least hassle. Get every agreement with suppliers in writing. Keep receipts for everything you buy and pay for. And remember, if your wedding costs inflate, you’ll need to adjust your wedding insurance to cover everything safely.
How to get the best wedding insurance deal
We’ve scoured the internet to make your planning a little easier, and have found a wedding insurance price comparison website, where you can find the best deal from a suite of different insurers. You’ll find them here – Compareweddinginsurance.org.uk.
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This information is not intended to be and does not constitute financial advice or any other advice, is general in nature and not specific to you. Before using the this information to make an investment decision, you should seek the advice of a qualified and registered securities professional and undertake your own due diligence.
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