Do we need wedding insurance?
I get it - this isn't the most interesting of topics, and when I was writing this blog, I had no idea where to begin, or how to make it interesting, but I'm just rolling with it.
Weddings are expensive - the dress, the venue, the cake, the flowers, and all the extras, so let me help you out and give you the facts!
What is wedding insurance?
A type of insurance that will protect you from financial losses due to illness, accidents, cancellations and other unforeseen circumstances during the build up to or on the wedding day itself.
Be aware that policies might not cover you if you have problems because of coronavirus - every policy is different, and you need to make sure you read the small print!
Do we need it?
YES if you’re spending a significant amount of money on your wedding. If you want to protect yourselves from losing money in the event of circumstances beyond your control.
NOT NECESSARILY if you’re having a small wedding and all your suppliers and venue have agreements in place that make it easy for you to postpone or cancel with little to no financial repercussions. If it would be easier for you to rearrange your day by yourselves without the help of an insurance company, this might be the way to go. However, I would recommend having at least basic cover in place.
What does it cover?
Every policy is different, so do make sure you read the small print! However, most policies will cover:
The venue closing or cancelling your booking
Cancellation due to illness, accident or death of bridal party or close family members – be careful with this as COVID related illness may not be covered here
Cancellation due to extreme weather
Supplier no-show or damaged goods – a written contract with your supplier will be vital if you need to claim on this, so make sure you get one when booking!
Lost, stolen or damaged items
Technical faults with wedding photographs or video faults
Personal liability and legal action
Your policy may cover you for additional elements - you can often add cover for outdoor weddings and marquees, and it's normally possible to add public liability cover as well.
Is there anything we won't be covered for?
If you or your partner decide to cancel, you won't be covered, or if you can no longer afford to get married (except in special cases).
Your honeymoon won't be covered - you'll need travel insurance for this.
If you're getting married abroad, you might need a specific policy for this.
How much does it cost?
This depends completely on the level of cover you want, how much you're spending on your wedding, and exactly what you want to include.
It could be as little
as £20 for basic cover, but it could be up to £300 for comprehensive cover for large weddings.
When should we get wedding insurance?
The sooner you get it, the sooner you're covered, and it won't cost you any more to have it earlier in your planning process.
What happens if we need to claim?
Payouts are appropriate to the cost of the items you need to claim for. If it's a small item, you may receive the money directly; if it's something big, like your venue, the insurer may pay for a new venue directly.
Remember there will be an excess fee, so you'll receive the cost of the items minus this excess.
What can I do to avoid claiming?
Pick reliable suppliers - make sure you read reviews, check qualifications/legalities and meet them face to face before you book them, so you know they're totally legit and reliable! The more experienced your suppliers are, the less likely it is that something will go wrong.
Keep in touch - make sure you're all on the same page, and the services or products they are delivering are exactly what you expect.
Have a plan B - talk to your suppliers about what they have done previously in the case of illness or supply chain problems. they might have a network of fellow suppliers who could help out.
Pay your deposits on a credit card – thanks to the Consumer Credit Act, paying deposits with your credit card adds a level of protection, but I would still recommend having wedding cover as credit cards won’t be able to help with things like illness or personal liability.
And that's pretty much it!
How did I do? Was it as boring as I thought?
I hope I've been helpful! - feel free to ask any further questions you might have in the comments!
Happy wedding planning!