Is buying insurance for your wedding really an essential accessory to your big day or just another unnecessary expense to add to your already growing list?
The thought of adding yet another expense to what is likely to already be one of the largest outlays of your life may make you think wedding insurance isn’t worth shelling out for. Plus, with all the many seemingly superfluous elements of cover that can come with this kind of insurance, it’s easy to see why many of us decide to forego it and hope for the best.
However wedding insurance is likely to be one of the smallest expenses when it comes to planning your big day – cover can start from around £50, which may be a very reasonable price to pay to know that if things go wrong, you’ll at least have a financial safety net to fall back on.
What will it cover?
First of all, it’s important to note that while wedding insurance will cover many eventualities including many different reasons for cancellation, it almost certainly won’t pay out if you or your fiancé experience last-minute cold feet and decide to call the whole thing off.
It also won’t pay out for details that don’t turn out as you would have preferred on the day, for example if a rainstorm ruins your bridesmaids’ make-up or the cake turned out to be chocolate rather than fruit.
Wedding insurance will however cover circumstances such as your wedding venue no longer being able to hold the ceremony or reception due to fire, flood, or other disaster. It will also generally cover damage to your wedding dress before the day, damage or loss to your photographs, rings, flowers, cake or presents, and costs incurred if your supplier goes bust (think Wrapit) or your wedding transport, photographer, registrar, or other essential official fails to show up.
It will also usually cover you if you have to cancel your wedding for reasons such as a bereavement or illness in the family, though exactly when you will be covered for cancellation will be detailed specifically in your policy – so you’ll have to check your terms and conditions carefully.
Is it worth it?
Whether or not you think it is worth buying insurance to cover your wedding is a matter that ultimately rests entirely in your (and your fiancés) hands. There’s certainly no obligation to buy it and many uninsured weddings of course go off without a hitch. It comes down to whether or not you feel you would be happier knowing some of the costs of your wedding are covered by insurance.
It is possible to get a decent policy that covers the essential things you need at a reasonable price if you shop around and gather several different quotes, and if you make sure to read the ts and cs carefully before deciding on a policy. Go through the conditions of any policy you are interested in with a fine tooth comb before shelling out for it, as exclusions (as with many other insurance policies) can catch you out if you aren’t aware of them when you buy.
Remember too that it is likely you’ll have to pay an excess towards any claim you do need to make (though this should be only nominal if you get a policy that’s worth its salt).
What else should I consider?
Before you rush out to buy a wedding insurance policy, remember that it is possible to ‘insure’ some larger purchases yourself (those over £100) such as deposits by putting them on your credit card. Doing so gives you a degree of protection thanks to the Consumer Credit Act 1974, which states that both you and your credit card provider will be liable for the purchase if something goes wrong and it fails to materialise.
Also, it’s worth having a leaf through your home insurance documents before you begin to pick out a wedding insurance policy. It may well be that some eventualities that may come with a wedding are already covered under the ‘special occasions’ clause of your home insurance, or you may be able to temporarily increase your home insurance contents cover for expensive items such as wedding gifts left in your home while you’re off on honeymoon.
Finally, remember that wedding insurance generally won’t cover your honeymoon, and this will require separate travel insurance. Having both this and an adequate level of wedding insurance in place will ensure your nuptials are fully covered, from walking down the aisle to your wedding night!
