Money Matters 21st December 2022

Wedding Insurance: Your Questions Answered

From what it actually covers to how much it will set you back, it’s fair to say we all have a lot of questions about wedding insurance and whether it’s necessary to have in place when planning a wedding. 

Below we’ve answered some of the most asked questions to help you make an educated decision on your wedding insurance and the level of insurance you might need for your wedding. 

What is Wedding Insurance?

Wedding insurance is an optional policy that many couples take out for their wedding day, that protects them financially against a number of things that could happen both in the lead up to and on the wedding day. 

The level of coverage you receive will depend on your chosen insurer and how much you choose to spend on your policy.

Is it necessary?

Whilst wedding insurance is optional, it’s important you weigh up the pros and cons of having it, as it’s often better to be safe than sorry. Think about how much you’ll be spending on the wedding versus how much the insurance will actually set you back. For example, if you’re spending £30k on a wedding that involves lots of external suppliers, then it’s wise to get it. If you’re having a low-key wedding with family members helping out with the wedding supplies, then it may not be such a great risk to choose to not have it. 

Essentially what you need to bear in mind is that insurance takes any financial risk our of your hands, so it’s important to consider how much you might stand to lose if something did go wrong. 

What does it typically cover?

Below we’ve listed the key things wedding insurance tends to cover, however this will vary from policy to policy, so be sure to check with your insurer. 

Supplier not showing up or damaged goods 

If your supplier fails to show up or the items arrive damaged, this is something you can claim on most insurance policies. However a written agreement/contract from your supplier is crucial to this claim so make sure you get one in writing. 

Venue closing or cancelling your booking 

Sometimes due to extreme circumstances a venue might need to close temporarily or permanently. For example due to a fire, flooding or severe financial problems. If by chance this happens to you, wedding insurance will cover you. 

Cancellation due to extreme weather 

If extreme weather conditions hinder your wedding to the point that 50% or more of your guests are unable to attend, wedding insurance policies should cover you for any financial loses due to this. 

Cancellation due to illness, accident or death of bridal party member or close family 

If your spouse, maid of honour, best man or close family member is taken ill, a lot of insurance policies cover you for being able to move or cancel the wedding. Bear in mind that the policies usually don’t cover you if the illness is linked to a pre-existing medical condition. 

This policy also usually applies for any of the above members of your bridal party or close family being called for jury duty of being placed overseas for military duty. 

If goods are lost, stolen or damaged 

You should be covered if wedding bands, the wedding cake, flowers, wedding outfits or gifts were to go missing, get damaged or stolen from no fault of your own. Again this is one to double check on your policy just in case. 

Wedding photography or videography issues 

If there happens to be a technical fault with your videos or photos, be that corrupted or lost files, you should be covered. This cost will cover you for hiring outfits and reshooting the main images again. However if you simply don’t like the photos or video when they’re delivered, this isn’t something that insurance will cover. 

Personal liability and legal action 

If the venue or a third party is injured at your wedding through no fault of yours or your guests own, then you should be covered by your insurance. However if it is the fault of the wedding party, then you won’t be covered so you might find you want to increase your insurance to include public liability for coverage of this. 

What does wedding insurance not cover?

Wedding insurance does not cover anyone getting cold feet, your honeymoon, needing to cancel if only something minor is wrong, financial difficulties or bad weather. 

How much does wedding insurance cost?

Wedding insurance is a one off cost and the price will vary depending on the total cost of the wedding, the extent of the cover that you need and the likelihood of things going wrong. You should usually budget for £20 to over £300 for larger weddings, with cancellation cover typically being around £90 to £100. 

When do I need to purchase wedding insurance?

You need to make sure you take out wedding insurance before you make any big purchases, most importantly the wedding venue. Generally most policies last for 24 months so make sure your wedding sits within this time frame. 

What happens if I submit a claim?

Depending on what you’re claiming for, you’ll either get a pay-out that is proportionate to your spend or the insurer might pay your new chosen supplier direct. Claims will usually come with an excess fee so you’ll receive the amount less the excess.