Wedding Insurance – Why Say “Yes”
You’ve got a huge celebration planned for your big day and you simply cannot believe your luck that you’ve finally met ‘The One.’ There’s so much excitement surrounding a time like this that it’s not a surprise that people can easily forget things.
Even worse, there are a lot of couples that think of something like wedding insurance as an unnecessary additional cost. But this is about as far from the truth as you could get.
Did you know that, for a £20,000 wedding, you might only need to pay as little as £150? When you consider the potential financial loss should something go wrong, this is a drop in the ocean.
There are a whole host of things that could go wrong; venues may no longer be available due to things like fires, caterers might let you down, bridal party guests may have to cancel even after you’ve forked out for their outfits, gifts and other things. And let’s not forget that you could be held liable if a guest were to injure themselves at your big event. When you consider all of these things, it’s become crystal clear as to why you should get wedding insurance.
But, just in case you’re still sitting on the fence, we’ve created this guide on the reasons that you should say YES to wedding insurance. Read on to find out more.
How Much Does The Average Wedding Cost In The UK?
Weddings are not cheap no matter where you go in the world. There are so many associated costs that the numbers soon mount up. In the UK, you can expect to pay around £27,000 to £30,000 for an average wedding. There are some estimates that you could do a budget wedding for around £17,000 but that’s still no small amount of money.
Since weddings do cost so much, it makes sense to have some kind of insurance to cover any financial risks.
Is It Worth Taking Out Wedding Insurance? – What Will My Policy Cover?
Many couples mull over whether taking out wedding insurance is worth it. After all, things going wrong only happens to other people, right? One too many devastated couples have found out the hard way that this is not the case.
But with the right wedding insurance, your big day will be covered for almost any mishap or unfortunate event. Let’s take a look at what you’ll be covered for when taking out wedding insurance.
- Venue cancellation: sometimes there may be issues outside of yours or the venue’s control. This might include things like floods or fires, or even the venue going bust and having to close. In this case, having cancellation cover will ensure that you don’t lose any money that you’ve already handed over.
- Illness, death or accident cover for family and the bridal party: should the worst happen and a family member falls ill, suffers an accident or passes away meaning that they can no longer attend your wedding, your insurance will cover anything you have paid related to their attendance.
- Weather cover: we can’t control the weather, as much as we might like to. But you can take out wedding insurance to cover the cost of the day if it is ruined by the weather. As long as at least 50% of your guests cancel because of the weather, you will be covered. That said, there’s usually minor differences between policies so make sure to check the exact details of this cover on yours.
- Damaged or missing goods cover: Let’s imagine that one of your suppliers can no longer provide the goods they promised or simply doesn’t show up. Your wedding insurance will cover this. What’s great is that this also covers damage to goods such as a damaged cake or less than fresh flowers. The only thing you need to watch out for here is that you must have a written agreement with the supplier in order to be covered so make sure you get everything in writing when arranging the big day.
- Lost, damaged and stolen items: in the event that any of your wedding items like your cake, rings, flowers etc are stolen, lost or damaged, your policy will cover these costs. However, it’s essential to note that engagement rings are not included in this and if you want to protect them, you should add them to your home insurance policy instead.
- Problems with photographs and videos: if there are issues with your wedding photos or videos caused by a technical fault, your wedding insurance will cover these costs. This might include hiring outfits again in order to take new shots on another date.
Liability Insurance
We wanted to include liability insurance in a separate section. This is an important thing to include in your policy as it covers you in the event of an accident or injury that takes place at the wedding venue. If you do not have this type of insurance, you could be held accountable and legal action may be taken against you.
Wedding liability insurance is a great idea if you’re hosting the wedding outdoors or on private property. Moreover, while you may be covered if an accident occurs generally, if this is through the fault of a guest, you will likely be responsible.
Most standard wedding insurance policies do not include liability insurance so this is something you’ll need to add on.
Things That Aren’t Included In Your Cover
Wedding insurance is something we would urge you to consider. However, it doesn’t cover every eventuality. There are some things that you won’t be able to claim for so it’s important to be aware of these before you sign any agreements.
Here is a list of things that you will not be able to claim for on your wedding insurance:
- Situations that you were already aware of before taking out the policy.
- The bride or groom getting cold feet and backing out of the wedding.
- Unexpected financial issues mean that you can’t go ahead with the wedding.
- In the case of items being stolen, there are usually very strict conditions. For example, if a wedding dress was stolen from a vehicle but said vehicle wasn’t locked then you won’t be covered.
- Your honeymoon. Although you can take out separate insurance for this.
- Engagement rings which should be added to your home or other insurance policy.
What Are The Most Common Wedding Insurance Claims?
If you have been wondering whether taking out wedding insurance is a good idea then it might help if you understand some of the most common issues. As we mentioned earlier, it’s easy to assume that it won’t happen to you but when you look at the following, it’s easy to see why it could!
- Damage to wedding attire
- Wedding photographs needing to be retaken
- Lost wedding bands
- Wedding cars or other transport that does not arrive
- Venue cancellation mostly due to double booking
- Public liability for damage of property
- Stolen or lost wedding gifts
- Financial issues relating to suppliers.
Do I Really Need To Spend More Money? – How Much Does Wedding Insurance Cost?
Far too many couples avoid taking out wedding insurance because they think that it’ll break the bank. The great news is that wedding insurance is actually incredibly affordable and when you look at how it eats into your budget, you’ll barely even notice it.
Of course, the cost of wedding insurance will vary depending on the provider but some might be as low as £25! On average, you’ll be looking to pay around £150 but it’s important to shop around and only take out the level of cover that you need.
Note that Asian weddings usually cost a little more to insure based on the fact that they are usually larger events that span over several days. In this case, the lowest you might expect to pay is around £59.
So, Should I Take Out Wedding Insurance?
Do I really need wedding insurance? It’s a question that we have all asked ourselves before entering into planning the most important day of our lives. In truth, if you’re only having a very minimal wedding that isn’t going to cost a lot of money then you might not need wedding insurance.
But for most people, a wedding is a chance to go all out and be as lavish as possible. In this case, absolutely consider getting wedding insurance. With the cost of a policy being incredibly affordable and the potential for things to go wrong, it makes sense to cover your big day. So, please say yes to wedding insurance and don’t be that couple who looks back to regret not making the right decision.
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