The overall cost of your wedding can add up to many thousands of dollars, so it is only sensible to take out insurance in case something goes wrong. Wedding insurance can cover you if one of your suppliers lets you down or if one of your wedding items is lost or stolen.
Insurance can enable you to rearrange your wedding if it needs to be cancelled for reasons beyond your control. It can also pay for any damage or injury that occurs because of your wedding that you are found to be liable for.
Wedding insurance will give you peace of mind and allow you to enjoy your special day without the worry of losing money if something unexpected happens. You may think that you don’t need your own wedding insurance as your suppliers all have their own arrangements, but you can never be 100% sure you all have eventualities covered so it is always advisable to have your own policy. Compared to other items in your wedding budget, comprehensive insurance is fairly inexpensive, so it is something you shouldn’t be tempted to skip.
What is covered by wedding insurance?
Each policy is different, and you can choose an insurance provider and level of cover to suit your own personal needs. Make sure your advisor explains the details of your policy to you carefully so you know exactly what is covered and what isn’t.
Here are a few of the elements of your wedding that may be covered by insurance:
- Deposits paid to any suppliers that fail to provide the required service
- Rebooking of reception venue if the booked venue fails
- Replacing or repairing outfits, rings, cakes, flowers, and other items if lost or damaged
- Rearranging wedding if cancelled due to the medical condition of a bridal party member or severe weather conditions
- Replacement of wedding presents if these are lost or damaged within a certain timeframe around the wedding
- Costs and legal expenses associated with any damage or injury sustained because of your wedding
- Cost of professional counselling should your wedding fail to take place
What isn’t covered?
Be sure to read the exclusions in your policy carefully; you may think you are insured for something that you’re actually not when you read the small print. Most policies won’t reimburse your wedding costs if the bride and groom decide not to get married for personal reasons. They also won’t usually pay to rearrange a wedding that has been cancelled due to a pre-existing medical condition.
When should I take our wedding insurance?
Ideally your wedding insurance should be the first item on your things to do list when you are planning your wedding. If possible you should take out a policy before you spend anything on the wedding, and certainly before you pay any large deposits. Sit down with your fiance and work out your wedding budget before you start checking out insurance policies so that you have an idea of the level of cover you will need.
Some insurance companies won’t allow you to take out a policy more than one year before the wedding, but shop around if you want to take out insurance sooner as many providers will offer this.
All brides hope that their wedding will go without a hitch, but you just never know what might happen. If your venue lets you down, your florist goes bust, your cake falls off the table, or your wedding is cancelled because of bad weather, it is comforting to know that you can rebook or replace without any expense, or at least get your money back.
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