With UK weddings getting more expensive and more elaborate you may be unwilling to add to your costs by taking out wedding insurance. But is this a false economy? We unravel the facts behind wedding insurance so you can make an informed decision.
What situations does it cover?
Everything you hope doesn’t happen! Whether the groom gets appendicitis the day before or a fire guts your venue, your wedding insurance will compensate you. Specifically, most policies cover cancellation due to family illness, loss/damage on the day (theft of wedding presents, damage to hired suits etc), failure of suppliers to fulfil their contract (e.g. in case of bankruptcy, double booking) and personal liability (e.g. guest injury). Other aspects covered include failure of transport – whether due to supplier failure or breakdown, loss or damage to flowers while in transit or at the venue and loss or damage to your luggage on the day.
Do I need wedding insurance?
If you’re planning a smaller wedding with less suppliers that could let you down then it may not be necessary. You need to look at how much money you could lose if you were let down by a supplier (e.g. your venue) or you had to cancel the whole day. If that is more money than you’d like to lose then wedding insurance is probably a good option. It’s worth looking at whether some areas might be covered by other insurance – for example theft of your wedding presents might be covered by your home insurance. You might also ask your suppliers if you can pay the balance on completion of their service.
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Please see the full comparison table for all levels of cover available from these insurers.
How much does it cost?
The cost depends on the level of cover you require. It’s worth looking at a few different wedding insurance suppliers to compare premiums and the amounts this will cover you for. You can still get good quality cover from a policy which is at the cheaper end of the spectrum. You should directly compare the amount covered for each element to ensure you’re getting enough cover – without paying for more than you need. Generally premiums start from under £30 to around £150 for a more expensive wedding. You’ll pay extra if you need to add optional extras such as honeymoon cover, a wedding abroad or marquee cover.
How do I buy it?
There are many companies offering wedding insurance – from UK high street companies to online only suppliers. Whoever you pick it’s important to make sure that the policy is underwritten by a company with a reliable reputation.