In today’s world, we have insurance policies for our house, car, phone and our beloved pets but have you considered wedding insurance?
This article isn’t here to scare you into going out and purchasing a policy, or to put a dampener on your engagement, as this is truly one of the best times of your lives. I’m simply highlighting the ‘possible’ instances you may wish to cover, in case it’s something you haven’t already thought about before.
First things first though, wedding insurance doesn’t cover cold feet or running out of money –marriage between two people is a lifelong commitment and should not be entered into lightly and although we’d all love to have a wedding day fit for Pinterest you have to be realistic about your budget.
There are many different options to consider when it comes to wedding insurance; your policy cost is relative to the cost of your wedding. It also depends on the cover you require for your wedding, to give you a rough idea, if your wedding costs £17,000 you would be looking at insurance costs of approx £57.
Wedding insurance is there to give you peace of mind, if you need it. If for example you need to rearrange your big day and this wouldn’t cause you any issues emotionally or financially, I would suggest you don’t really need insurance.
If you’d be left out of pocket if something went wrong, I would consider looking at the different options available. However, make sure you purchase insurance, which covers the actual cost of your wedding otherwise, you may be left under-covered!
The two main reasons people buy wedding insurance are venue cancellation and supplier failure. Have you considered what would happen if your venue closed overnight or a supplier lets you down? In addition, what would happen if you had to cancel the wedding due to key people in your wedding party becoming ill or they were involved in an accident?
If you do decide to purchase wedding insurance do this at the start, as some policies allow cover for up to two years before the wedding. You will also need to keep a record of everything you book in writing… something I mention to all my couples, is to make sure you have written agreements or contracts with all suppliers and get receipts for everything you pay for. You may need these later if you have to make a claim.
There are many price comparison sites out there for you to compare different policies but our question to you would be… what price would you pay for peace of mind?