What is Wedding Insurance, and What Does it Cover?
The winter months are well known for being the “engagement season”, with social media feeds full of loved-up couples smiling at the camera while one (or both) significant others hold up their left hand with brand new sparkly bling.
If you were amongst these couples in the 2019/2020 festive season (congratulations!), you are probably gearing up to enter the nitty-gritty of wedding planning.
Vendors of the wedding industry can put a price premium on every service purely because there is such a high emotional value to the day. With the average cost of a wedding in the UK in 2019 coming to an eye-watering £31,974, this is a significant financial cost as well as being a highly emotional business.
So, if you have spent the last month pouring over bridal magazines and are now gearing up to committing to suppliers for your dream day, you need to invest in wedding insurance to protect the money you are spending.
What is wedding insurance?
Wedding insurance does what it says on the tin: it is financial insurance that you purchase so that if something goes wrong for your wedding, you are able to claim to cover the cost.
While insurance doesn’t sound particularly romantic, given how much the average wedding is costing, it’s smart to make sure you have insurance to make sure you have a safety net should anything go wrong in the run up to the big day.
So, what does it cover?
It’s important to know what your wedding insurance does and does not cover. Packages will vary depending on what you want and your supplier, but there are some general consistencies in what is and is not covered in the market.
What it does cover:
- Your vendors cancel
- Your vendors don’t show up
- Key individuals are unable to come (illness etc.)
- Issues with wedding attire
- Your products are ruined (issues with the photos, cake etc.)
What it doesn’t cover:
- Calling off the wedding due to cold feet
- Cancelling the wedding due to a changing what you want for your day
- Poor weather conditions (eg. thunderstorms for an outdoor wedding)
Vendors can charge a higher amount if you are booking last minute, so if another vendor cancels and you are trying to find a replacement last-minute, wedding insurance helps absorb this cost to make sure you’re not breaking the bank.
This ensures that you can prepare to walk down the aisle with the comfort to know that if something goes wrong, you will be covered by your insurance.
Here are some key facts about wedding insurance that you need to know:
- You can buy wedding insurance from two years before your big day, all the way to the day before
- You can buy wedding insurance
- There are many different packages for wedding insurance, so shop around to find the right package to suit you.