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What is wedding insurance and what does it cover?

Posted: Tuesday June 16, 2015

The average wedding in 2014 cost around £21,000 (source: BBC).  Although it is incredibly unlikely to go wrong, it is a huge amount of money to lose should the worse happen.  Today there are many providers of wedding insurance which can cover individual elements or the whole day.  But is there any other way of protecting your wedding?

What is wedding insurance and what does it cover?
A policy that covers you financially if something ruins your big day or it has to be cancelled or postponed
There are a large number of insurance policies on the market and all policies are different, but normally they cover cancellation or rearrangement of a wedding or reception due to accident, illness or bereavement within the main wedding party.  They also tend to cover you if a supplier goes out of business and loss or damage to the main wedding outfits, presents, rings, cake and flowers.  Many will also cover the cost of having to retake wedding photographs and video, failure of wedding cars and any personal liability or legal expenses.

However you can't claim for a situation that you already knew about, for example you knew about an illness that could prevent the bride or groom attending before you booked the wedding.  You also can’t claim if either partner changes their mind or if you decide you cannot afford to go ahead with your plans.
Often honeymoons are not covered by wedding insurance so you may need to take out a separate travel insurance policy.

Do I need wedding insurance?
This really depends on your individual circumstances and how much peace of mind you want.  Could you afford to replace elements of your wedding should the worse happen?  You should also check what other cover you already have:

Home insurance:  Many home insurance providers will allow you to increase your premium and cover for the weeks before and after your wedding to cover the cost of items such a wedding rings, wedding dresses and gifts.  Check your cover to see if these items are protected away from your home.  For example, if you lose your wedding rings away from your home, will you be covered?

Section 75: This is a little known and a little used piece of consumer protection that could mean much of your wedding is protected.  If you pay for anything more than £100 but less than £30,000 with a credit card you can claim your money back from the credit card provider should something go wrong which constitutes a breach of contract.  For example, if your DJ doesn’t show up or your venue is double booked you would have a claim.

Chargeback protection:  Visa provides a similar service called Chargeback which protects you for anything you purchase on a Visa debit card.  However, unlike Section 5, this is not a legal requirement and while your card provider should try to get you your money back, there is no legal obligation to.

It is also worth speaking to wedding insurance providers to see exactly what they cover before deciding on one as all provide a slightly different level of coverage.

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