The number one piece of advice for grooms is to be prepared for every eventuality. Unfortunately, this includes planning for the worst case scenario. What if your photographer doesn’t turn up on the day? What if you or your fiancee is ill on your wedding day?
Wedding insurance can’t prevent chance events from spoiling your big day, but it can make life a bit more bearable if something goes wrong.
Is it worth it?
Most wedding insurance policies cover a wide range of potential disasters. However, if you read through a policy document and you’re thinking that some of the cover is not really worth having, then you’re right.
Almost all wedding insurance policies cover problems with photographs (for example, the photographer not turning up, or the images being lost before they reach you). But all the insurance policy can do is pay for the cost of re-staging the photographs, which is likely to be little compensation to either of you.
Wedding insurance should also cover any deposits paid to your suppliers – caterers, florists, photographers and so on – if they go bust before the big day. But is this really worth it? In reality you can achieve the same protection, without the need for insurance, by making sure that all the deposits are paid with a credit card. This means if the supplier goes bust, the credit card company will usually be liable by law to refund you.
Wedding insurance also covers loss or damage to your rings, gifts, outfits and so on. However, your home contents insurance should cover a lot of this already.
Having said all of that, there is one thing a wedding insurance policy will cover you for that really is worth having. That thing is cancellation.
If the wedding has to be cancelled for an unavoidable reason, such as the bereavement of a close relative, you or your fiancee falling ill, or simply adverse weather conditions, then the financial costs can be very high. You are likely to forfeit any deposits already paid to suppliers and in many cases you may be liable for the full amount of their bills.
Most wedding insurance will cover the costs of cancellation and rearrangement. It won’t save your big day, but it will save you a big financial headache. With policies starting from around £50, it really is worth considering.
Read the small print
If you do decide to get wedding insurance, make sure you read the policy wording carefully before you buy, so that you know exactly what you’re covered for and to what level.