Nearly half a million couples get married in the UK every single year, and the average cost of a wedding is dramatically increasing. Last year, the average cost of a UK wedding was £17,000. Can you really afford to lose that money if the wedding doesn’t happen? That’s where wedding insurance enters the picture.
What It Covers
Many people invest in wedding insurance to help prevent the associated costs with venue cancellation and supplier failure. It covers much more than that, though. A typical policy will also cover you if key people in the wedding can’t make it due to serious illness or an accident. It will also usually offer you some coverage if the rings, flowers, or even the dress is lost, stolen or damaged. Personal liability and legal expenses are also part of most standard policies. If you’re having an outdoor wedding, often you can purchase added insurance to help recover your costs if a heavy rain or thunderstorm moves in to ruin your ceremony. Marquee coverage is also available at an extra cost, which can really help if the wind suddenly hits your marquee and the rented chairs and tables are damaged. You can even obtain public liability cover so that should anyone invited be accidentally injured, you don’t experience the financial consequences as a result. If you’re having a military wedding, you may also want coverage for the ceremonial swords. They’re beautiful, but they’re also expensive if damaged, and that type of cover gives you a bit more peace of mind on such a big day. Some policies go as far as covering the pre-wedding party!
What It Doesn’t Cover
In any discussion of exactly what this type of insurance covers, it’s important to include a few notes about what it doesn’t cover. Wedding insurance doesn’t cover the bride or the groom getting cold feet at the last minute. If either party decides not to go through with the ceremony, coverage isn’t included. In some cases, military deployment to a known combat zone isn’t covered either. Additionally, coverage doesn’t always extend to weddings that are being held overseas, so check your policy if you’re thinking about a wedding that involves travel.
How Much It Costs
What you’ll spend depends extensively on how much you have tied up in your wedding. If you’re just looking for cover in the amount of less than £5,000, for example, you can typically find a small policy for just a few dollars. If your wedding, though, is in line with the recent national averages, though, expect to pay closer to £100 or so to get the kind of coverage you really want.
So, do you really need wedding insurance? If you’d be left out of pocket as a result of a problem at your wedding, you absolutely need to invest in this coverage. It’s often worth the little bit of money just to get the peace of mind you need at this stressful time.