Wedding gifts can amount to a startling total value, so it is important to take a little time and check that you have suitable insurance in place in case they are lost, damaged or stolen during the excitement and merriment of your wedding day.
Often overlooked when it comes to insurance, wedding gifts are given in love and best wishes for the happy couple’s future together. From an insurance point of view, they are incredibly valuable. If you do the sums, 75 guests giving a gift of an average £50 each would mean a staggering £3750 in total. So, it is important to consider taking a little time to check that your gifts are insured.
What could go wrong?
While this would not bring back the gifts and would have an impact on the wedding day at least the insurance would be there financially to support the replacement of them.
Particular items of interest to thieves are the wedding presents. How often have you seen them piled up in a corner at the end of the night, waiting for the parents or some other relative to collect them and take them to some safe storage until the newlyweds return home? There have been some remarkably brazen thefts of presents from wedding receptions, often recorded in the local papers.
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Please see the full comparison table for all levels of cover available from these insurers.
Will my home insurance cover wedding gifts?
Often, the answer to this question is yes, it will. However, you do need to check a couple of things and remember that it’s only the wedding gifts that might be covered – your home insurance is no substitution for a comprehensive wedding insurance policy:
- Your insurer will require a certain amount of notice in order to increase the amount you are insured for in order to cover the gifts;
- What is the maximum value that your home insurance will cover? If you expect to receive a significant value of gifts you may not be able to increase your contents insurance cover accordingly. In this instance, you will need to take out additional insurance.
Some providers of home insurance, Direct Line being one example, may increase cover automatically by a certain percentage for a short period of time before and after the big day.
What you should expect to be covered for:
Whether you use home insurance or a specific wedding insurance policy, you should expect the value of your wedding gifts to be covered for:
- Loss or damage due to fire, theft, or accident whilst being stored by the policy holder or close family member;
- Loss or damage to gifts in transit or on display at your wedding venue;
- Cover for a short period or time – often for around a week before the wedding and 24 hours, or until a claim is made, whichever is sooner.
What you may not be covered for:
Remember that you will not be covered in all circumstances. For example:
- Money and vouchers may not be covered at all, or only up to a specified amount;
- Some policies will not cover damage caused by people under the influence of alcohol;
- Check if gifts for attendants are covered, i.e. bridesmaid’s gifts, best man’s gift;
- Any loss (other than damage) not reported to the police, usually within a 24 hour timeframe;
- Loss or damage due to normal wear and tear or general use;
- Theft from an unattended vehicle, unless the gifts are in a locked boot or glove compartment, and entry has been forced to the vehicle;
- Theft from the home or wedding venue, unless entry has been forced;
- Any costs arising from the failure of a wedding gifts supplier not contracted and pre-paid by the policy holder.
You will also be required to pay any excess agreed to in your insurance policy.
- You will need to provide your insurer with receipts for wedding gifts, money and vouchers if you make a claim.
- Note if you use a gift list service, and get your gift insurance through the same provider, your insurance payment may be in the form of shop vouchers.
While insurance cannot make a difference to the disruption caused by the loss, damage or theft of precious wedding gifts it can, at least, help to relieve the financial strain for the bride and groom.