Tuesday, July 24

Should I Buy Wedding Insurance?

Having been a wedding planner for almost 5 years, I know the importance of investing in wedding insurance and it was actually one of the first purchases I have made since becoming engaged.  I got engaged just over a month ago and many have asked where I am up to with my wedding planning. When I mention wedding insurance I am often confronted with a puzzled look, followed by questions like, Why do you need wedding insurance? or Is that actually a thing?

My answer always remains the same.... Would you buy a car without insuring it? or Would you book a holiday and not get travel insurance?

www.moneysavingexpert.com 

Wedding Insurance is so important when you are planning your big day just so you are covered for every eventuality. But remember just like any other insurance policies vary so make sure you get cover for the aspects of your wedding that pose the biggest financial threat if, in the unlikely event, something were to go wrong.

The first thing you need to do, if you haven't already, is establish your wedding budget, ie what it is going to cost you to have the wedding of your dreams. That may be £3,000 or £100,000, whatever your budget there is an insurance out there for you. Prices usually range from anything from £20 to £300, again depending on how much cover you need.

Generally people opt for wedding insurance for two main reasons:


  1. To cover for venue cancellation
  2. To cover for supplier failure
But there are other reasons you need to consider insurance for your big day, such as:

  1. To cover in case a key member of your wedding party falls ill or there is a death in the family
  2. Lost or stolen wedding rings, decorations, flowers, cake, wedding attire etc
  3. To cover should you not receive your wedding photography or video
  4. Cars & Transport
There are various companies that offer competitive wedding insurance packages, some of the best include:




I personally opted for the Dreamsaver Wedding Insurance, as they had a wide variety of different levels of cover for a very reasonable price. I opted for the Gold package which covers up to £10,000 at a cost of just £37! But see a breakdown of the levels of cover available below.



Top Tips when buying wedding insurance:


  1. Shop around for the best cover
  2. Don't pay over the odds for the same level of cover with a different provider
  3. Make sure you get the right level of cover, if you wedding will cost you £10,000 make sure you match or slightly exceed this level
  4. Check your inclusions and exclusions
  5. Finally and most importantly - Always read the small print! Better to be safe than sorry!