Do you need Wedding Insurance?
Insurance is that one thing you hope to never need, and hate paying for, but when you do need it – you really need it….
We’ll start this article by pointing out that when it comes to specific policies and things that are, and are not, covered – we are not experts. There are thousands of companies offering cover with varying policies and limits, etc…
Having said that, almost all of our clients think wedding insurance is a great idea, and we’ve heard and seen multiples instances when wedding insurance has come into play. Please find below a general broad view of the kinds of things to consider when deciding whether or not to get wedding insurance.
Should you take out wedding insurance?
With the average UK wedding now costing on average £30,000, a wedding can easily cost more than a brand new car! When you’re spending these sorts of sums, added protection really should be a no-brainer…
What if you or your partner (or a member of your close family) get ill? Maybe this causes a postponement or cancellation of the day? What if you’re having a winter wedding but due to incredibly bad weather the wedding can’t go ahead? What if your wedding dress or other wedding clothing is damaged? What if one of your suppliers disappears on you or just doesn’t turn up?
There are a wide range of insurance wedding packages with differing levels of cover, for different prices, and ultimately wedding insurance can help protect you should certain things happen (and not leave you out of pocket for something out of your control). Whether wedding insurance is worth the money is ultimately down to the total wedding cost and how worried you are about things going wrong.
The advantages of wedding Insurance
Like any insurance policy you take out, wedding insurance is there to protect you from unexpected events out of your control.
What’s more, it can cover the cost of wedding vendors such as caterers, wedding photographers, or wedding car companies who don’t show up, or perhaps go out of business before your wedding day. Depending on the insurance you take out, wedding insurance can potentially cover costs of repair or replacement for those most important parts of your wedding day – such as the wedding dress or wedding rings…
Marquee companies often have requirements for wedding insurance to be in place before a booking can be made – and that it is adequately high. We had some clients who had a £50’000 wedding insurance cover in place, but needed to upgrade it as the marquee company insisted on £65’000.
Is your wedding going to have a wedding fireworks display? If you’ve hired a professional wedding fireworks company, then the chances are they have their own insurance policies in place for the event (included in the price – but do check!). But if you are organising your own fireworks display, public liability cover is a must…
Other items we believe a good wedding insurance policy should cover you for are: your wedding cake, wedding flowers, and other small parts of your wedding day. We’ve talked with various suppliers and compiled a list below of things we believe should be included in your cover, and you should check with your insurance company when deciding…
Things we believe wedding insurance should cover
It shouldn’t matter whether you are having a civil ceremony or a church wedding, with regards to your wedding insurance. Furthermore most policies we have seen often cover both UK weddings or destination weddings abroad.
All policies vary but these items tend to generally be covered, and we recommend you check for them when looking at different policies.
- The loss of wedding rings,
- Having to retake your wedding photos,
- Loss, damage, or theft of essential documents,
- Having to cancel or rearrange your wedding due to illness, accident, or bereavement (close family members),
- Being forced to cancel or rearrange due to supplier failure (such as the venue double booking your wedding date…),
- Wedding cake not showing up (or showing up damaged),
- Damage to the Bride’s dress, bridesmaids’ dress, or groomsmen’ suits,
- Your wedding flowers not arriving (or arriving damaged),
Things very often not covered
You need to make sure what your specific wedding insurance policy does or does not cover, but we find the following scenarios are often thought to be covered when they actually aren’t…
- Reimbursement or damages should either of you change your mind,
- Being unable to afford to continue the wedding (perhaps due to a change in circumstances),
- General theft from your home (some policies state that they cover wedding gifts and other items related to the wedding within a certain time-frame around the wedding date, but often this does not include cash or vouchers….),
- General theft from the wedding function itself (guests losing items, etc…),
- Damages to wedding attire from washing / cleaning,
Suppliers letting you down
A wedding involves hiring and booking multiple wedding vendors and wedding services, such as wedding photography, wedding videography, wedding flowers, MUAs, wedding cakes, wedding dresses, wedding rings, the wedding venue itself, etc… etc… The list goes on…. So this leaves a lot of scope for perhaps one of the wedding services you have contracted to let you down in one way or another. This could happen due to all sorts of reasons: perhaps the company goes bust before your big day (it’s still a volatile economic climate), perhaps the wedding vendor is sick and has no replacement, perhaps due to an accident or unforeseen circumstances they are unable to provide you their services (their flower supplier has a fire, or the wedding cake shop is flooded…). We’re not trying to scare you, but hopefully you’ll realise that there are many possible reasons you may need to rely on wedding cover.
Often there are policy limits in each area, and on top of that an excess to pay. The level of cover you buy, and the specific wedding package you select, will dictate what these limits are. We mentioned the marquee above, but there are many other examples of varying level of covers supplied and needed. Often wedding insurance will cover you for any deposits lost from a company that goes bust before your wedding day, but you may also be able to recoup these costs through other routes – such as if you had paid by credit card, you usually are covered for purchases over £100 under UK law (Specifically Section 75 of the Consumer Credit Act 1974).
So should I get it or not?
We really aren’t experts or in a position to advise you what to do. But we’ve worked with hundreds of couples who have all thought it was the right thing to do, and hopefully we’ve laid out above important things to consider when making your decision. There are hundreds of companies offering many types of policies, which can make it a daunting task…. Having said that, that does mean that the right wedding insurance policy is out there for you if you know what to look for. Like any insurance policy or contract you sign, you should always read the terms and conditions and pick the policy that suits you best.
One more thought: Often couples incorrectly assume that if either Bride or Groom get cold feet and cancel the wedding, that the wedding insurance will cover them in this situation – but we’ve yet to find one that does! Sometimes couples decide this is the only likely scenario they might need it, but hopefully we’ve outlined above many scenarios where it could be more than useful… In any event, we did find one policy that actually covers counselling that may be required as a result of either Bride of Groom cancelling. So, there is that!