Given the huge costs, both financial and time, involved in weddings, it is prudent to protect yourself financially with wedding insurance.
From no show DJs to double-booked reception venues, storm damaged marquees to serious injury, wedding insurance provides peace of mind that if things do go wrong, you should at least not be left out of pocket.
However, it is very important that when you choose your insurance, you take a little time to read the small print. What is covered varies widely between insurers, and reading your policy documents carefully could save you a lot of time, money and stress.
Things you should to check
As well as bearing in mind the specific requirements for your wedding, for example purchasing marquee insurance if you are using a marquee, it is worth checking the insurance policy you have chosen for details such as:
- If the wedding and reception are on different days, are you covered for both?
- Is the entire policy valid if you are having a wedding abroad, or are there exclusions?
- Do guests have personal liability insurance, in case they damage something or injure someone?
- Does the insurance cover damage caused due to alcohol consumption?
- Does the insurance cover deposits that were paid before the insurance was taken out?
- What is the excess? This is what you will be required to pay if there is a claim made. Check if it varies depending on the claim.
Some policies may place time restrictions on some of its claims. For example:
- Redundancy may not be covered if the insurance is not taken out 8 weeks prior to the redundancy being announced;
- Weather related claims may not be covered if insurance is taken out less than 2 weeks prior to the event.
Note that an insurance policy does not usually start until you have paid for it in full.
What you will not be covered for
There are some instances in which you are unlikely to be covered at all, for example:
- Cold feet – unfortunately the policy will not pay out if the bride or groom decide not to go ahead on the day. However, some policies will cover the cost of counselling;
- If you cancel the wedding as you cannot afford to continue with wedding plans;
- Theft of gifts, wedding attire etc due to lack of care and attention. For example, items left on view in a locked car, or left in an unlocked hotel room;
- Any travel or accommodation costs for weddings abroad, as well as your honeymoon will require travel insurance;
- Wedding cancellation due to undisclosed pre-existing medical conditions (note that your insurer may also add specific exclusions to your policy for disclosed pre-existing medical conditions);
- Money and vouchers as gifts (although these may be covered if they are secured in a safe);
- Under-insurance – always check that the total amount you are insured for will actually cover the cost of reorganising the wedding. You will only get paid the amount you have agreed to be insured for, leaving any extra costs to be covered yourselves.
- Claims against a supplier where you have no written agreement or contract, or where you have made payments outside of their normal booking arrangements (i.e. paid the full amount earlier than required).