Whether you’re keeping it simple or planning a large-budget extravaganza complete with champagne cocktails and a floral balloon arch, it’s important to get the financial protection you need for your big day. Yes, there’s already plenty to think about – from wedding favours to wedding stationery – but with the right wedding insurance package, you’ll know you’re covered if the unexpected happens.
What is Wedding Insurance? And Do I Really Need It?
The average wedding in the UK now costs a whopping £31,974 and without wedding insurance, you risk losing the lot if you have to cancel for any reason. Circumstances can arise that are beyond your control. For example, your wedding cake supplier might let you down or your rings might be stolen. But with the right cover, you should be able to claim.
If you’re spending big money on your special day, wedding insurance is undoubtedly a great idea, even if it seems like yet another expense. The only exception might be if you’re having an intimate, low-key wedding that doesn’t break the bank. In that case, you might decide that wedding insurance isn’t necessary, but think very carefully about this.
It’s also worth noting that you might already have some level of cover. For example, if you make wedding payments between £100 and £30,000 (which many people do) you can use Section 75 to get your money back if something goes wrong.
Similarly, if you have contents insurance, it should cover wedding items such as wedding favours, wedding jewellery, expensive attire and such like kept in your home before the big day. But remember to read the small print as content insurance is typically based on the total worth of your assets and a wedding can bump your asset worth up temporarily.
What Does Wedding Insurance Cover?
Wedding insurance policies typically cover many aspects of your wedding day including:
- Cancellation or rearrangement
- Wedding attire
- Flowers, cakes and rings
- Wedding cars and transport
- Failure of supplies
There should also be some level of public liability protection. This can cover compensation if someone is injured during your wedding ceremony or if the venue gets damaged.
All weddings are different, however, so it’s important to choose a policy that best suits your wedding. For example, if you’re having a DIY wedding, you won’t have to worry about last minute supplier cancellations and can adjust your policy accordingly.
How Much Cover Do I Need?
Choosing the right wedding insurance means working out how much cover you will need. So, think about what you will pay and find a policy that’ll pay out the correct amount. For example, if your wedding costs £30,000, you’ll need wedding insurance that has a cancellation cover limit of at least that amount.
A mistake in this calculation could leave you short if something goes wrong. So, when estimating the price of your wedding, be as specific as possible. For example:
Wedding dress – the average gown in the UK is £1,385.
Flowers – most couples spend at least £1,500 on their wedding flowers for the wedding party, church and reception décor. The flower budget is typically around 10% of the total wedding cost.
Wedding cake – the average cost of a wedding cake is around the £300 mark.
Wedding rings – wedding rings can crank your wedding costs up by £1,471 according to a survey conducted by retailer William May.
Wedding transport – When only Rolls Royce will do, the 1955 Austin Princess Limousine seats 4 and costs £300 on average to hire for weddings.
See how it all adds up!
Top tip: Don’t get sucked in by cheap wedding insurance deals that provide inadequate cover. Each policy is different and finding the level of cover you need is really important. That said, be sure to shop around and compare and contrast policy content and prices.
Wedding Insurance FAQs
Is There Anything Wedding Insurance Won’t Cover?
Wedding insurance protects against unforeseen and unavoidable events. It doesn’t cover a change of heart or cold feet. If you and your partner decide to cancel the big day because you’ve changed your minds, you can’t rely on insurance to protect you financially. You won’t be covered due to a minor incident either. For example, a little bit of rain. The weather will really have to turn severe for anything to happen.
Can I Still Get Wedding Insurance During the Covid-19 Pandemic?
Unfortunately, many wedding providers are currently not accepting applications for wedding insurance due to the Covid-19 pandemic. This is because cancellation risks are high due to Covid-19 rules which state that only 15 people in England can attend a wedding.
If you already have a wedding insurance plan in place, this should remain unchanged. However, not all policies will cover cancellations due to the virus. So always double check with your provider. Many companies will not cover government travel disruptions caused by the virus either. Also, while cancellations due to illness of the couple, a close family member or bridal part member are likely to be covered, this is only true if the policy was purchased before the person became ill and therefore won’t cover recent Covid-19 infections. Most policies also won’t cover people in self-isolation or those that are shielding.
Word of Advice: Bear in mind, you won’t need to claim on your insurance if you manage to postpone your wedding. If your big day has been impacted by the pandemic, it’s a good idea to reschedule rather than cancel altogether, especially if your insurer isn’t compensating due to Covid-19.
How Much Does Wedding Insurance Cost?
This depends on the supplier. So always do your research. Many insurers such as John Lewis Finance offer various levels of cancellation cover from £10,000 to £100,000 and the amount you need will affect your overall premium. Use wedding insurance comparison sites as well as independent providers to find the best price.
When Should I Buy Wedding Insurance?
Ideally, you should buy wedding insurance cover before you start spending money on your big day. For example, booking a venue or ordering the cake. Most insurers will let you take out cover two years before your wedding day. So, if you want to book that dream castle venue or hotel in advance and still be financially protected – you can.
Can I Take Out Cover After I’ve Made a Booking?
Yes! This is absolutely fine. Any bookings you make before taking out wedding insurance will be covered by the policy once it starts. Just make sure you include these bookings when working out the cover you need as this will provide you with optimum financial protection. And remember if something happens before you take out insurance, you won’t be covered.
Can I Pay for Wedding Insurance Monthly?
Unlike car insurance which allows you to pay monthly, you’ll need to make one payment upfront for your wedding insurance. This is because a wedding is a one-time event (hopefully) and therefore you don’t need to pay over a longer period.
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