You’ve asked the question, got the date set, and are now starting on the process of wedding planning but before you even book a wedding cake trial - should you be thinking about insurance first? From the dress, suits, venue and caterers to the presents, rings and drinks weddings are a very expensive business and if something goes wrong - can prove even more costly.
A number of insurers sell policies to cover against the worst, such as if your caterer goes bust or if your wedding gifts go missing. However, these policies have a lot of catches and are only worth getting if you’re clear what’s covered - and more importantly - what’s not. Here we look at the main things to watch out for.
Wedding insurance pays out if the groom is ill - but not if he has cold feet
These policies will pay out if something happens to stop your wedding taking place, but not everything is covered. For example, if someone in the immediate wedding party - the groom or bride, or either of their parents, are too ill to attend the wedding or in the event of death you should be able to use the policy, but if either member of the couple get cold feet this isn’t included.
What is covered
If a venue or supplier goes bust, this will be covered and anything you’ve already paid out should be returned to you. If anything is lost, stolen or damaged including the dress, suits, wedding rings, flowers or food this should also be included. As well as items turning up not as expected - such as if you’ve ordered a three-course buffet and you only end up with some measly looking sandwiches.
The policy also needs to cover personal liability and legal expenses, if anyone hurts themself on the day - both guests and suppliers - or there are any legal disputes.
What won’t be covered
As already mentioned, cold feet won’t be covered if anyone changes their mind before they say ‘I do’. You also won’t be able to cancel for financial reasons, such as if you realise you’re not going to have enough money to pay for the full day, and you may only be able to make a claim on the policy if the entire wedding has been cancelled, not just one part of it.
Any pre-existing conditions, including health conditions, also won’t be covered - such as if the groom is too ill to attend the wedding because of an illness he has had before.
Acts of god - such as bad weather or terrorist attacks - generally won’t be covered as standard but you may be able to add extra for weather cover.
How to avoid a potential disaster
There are a number of steps you can take to avoid things going wrong on your wedding day. These include keeping a record of everything you pay out for including invoices and receipts as you may need these if you do make a claim on a policy.
Conducting research on the companies you’re using will also help and it’s worth checking previous customer reviews and also looking on social media sites. Although you can never predict when a company will go bust, this should give you a rough idea how reliable a company is.
If you can, pay by credit card as you’ll have an extra layer of protection under Section 75 of the Consumer Credit Act for things worth between £100 and £30,000. With weddings suppliers will often ask for cash payments but always ask if it’s possible to pay by credit because if something does go wrong, the credit card company is then liable to pay you back any money lost.
Alternatives to buying wedding insurance
Instead of paying an insurer for a policy, you could self insure by putting a certain amount of money away in an interest-paying savings account. It’s good to have a safety net anyway if any unforeseen costs arise and this way you’re not paying.