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Do you need wedding insurance?
Is wedding insurance really essential for your big day?
The question of whether you need to look into wedding insurance can be a tricky one. In fact, the idea of putting some of your already tight wedding budget towards a service that you hope not to need is one that can be the source of many a stressful wedding headache. The decision needs to be looked at practically and really boils down to a few basic considerations. It goes hand-in-hand with the amount of money you have spent or intend to spend on bringing your wedding plans to fruition. With the average cost of weddings always on the rise, you may have invested a huge amount of money into your big day already and so it makes sense to protect that investment.
Wedding insurance: Things to consider
You need to assess your wedding logically and plan ahead − how much are you spending overall and what could go wrong? If your wedding is going to be a fairly small family affair, for which you have planned a lot of the details yourself, then insurance will not be top of your agenda. In this case make sure to cover all the bases yourself by ensuring your suppliers maintain their agreement by only requesting a deposit until they have fulfilled their role. Most importantly, have a back-up plan in place where possible just in case things go awry.
There are of course some things you just cannot plan for. What happens if your venue cancels at the last minute? Or if one of the suppliers you were relying on goes bust and won’t refund your money, or even if you have to cancel the wedding unexpectedly.
With these eventualities in mind, you need to decide how important recovering all of your wedding budget will be should something disastrous occur. Again, if you’ve taken inspiration from the royal wedding then your decision is likely to be different than if you have the reception at the local community hall and your mum is baking the cake.
Wedding insurance: What will I need cover for?
As always, wedding insurance policies will vary from provider to provider and depend on the premium you decide to pay.
You may need cover for:
• Cancellation / postponement – (on behalf of the venue for example). This should cover lost deposits as well
• Wedding liability – in case any attendees have a little too much to drink and damage the wedding venue or themselves
• Any problems you may have with wedding suppliers
• Loss, damage or theft on the wedding day itself
• Failure of hired wedding transport
• If damage is caused to the wedding attire (red wine alert!)
• For any reason you have to cancel the wedding in an emergency or otherwise
If any of these is a potential stumbling block that you are worried about then consider getting some advice on a policy.
Lastly, whatever you decide to do, do it right and make sure you are getting the exact wedding cover you want. Read the details of any wedding insurance policy before you pay and feel free to ask the broker questions. With so many packages to choose from you need to make sure you get the right one.
© 2013 The Realbuzz Group Ltd. All rights reserved.
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