For most couples organising their wedding the question of wedding insurance is an issue. Is it worth it? The answer depends partly on how much your wedding costs. If it is a cheap and cheerful affair, then the insurance premium probably isn't worth it.
These weddings are a minority nowadays. Most wedding costs tens of thousands, whether it's pounds sterling, euros or US dollars, so a wedding insurance policy is probably a good idea. Usually you would aim to cover your major expenses such as the dress, ceremony, reception, catering, flowers, honeymoon etc. Most suppliers will want paying if you have to cancel your wedding. Maybe not the whole bill but certainly their costs up to the point of cancellation.
Of course for many excited bride and grooms the idea of thinking about insurance when planning their wedding is at the bottom of their to do list. You understandably want to concentrate on the exciting and romantic things like the tropical honeymoon, horse drawn carriage and gorgeous dress. However extreme weather and lots of other unforeseen circumstances can intrude on your big day. Insurance can give you some protection against the unexpected but of course doesn't cover everything.
After booking the ceremony, reception, caterers, florists, cake makers, wedding planners etc and of course paying a deposit, you are in a contract. You are committed and there will be a cost if you cancel. Wedding insurance gives you that extra peace of mind. Look for a policy that covers potential problems such as
- One of your service providers, say a caterer or florist goes bankrupt and closes down
- The precious professional photos and videos of your ceremony get lost or damaged
- There is an accident or sudden illness on the day
- Your wedding rings are mislaid or worse stolen
- A clothes related disaster - such as your wedding dress being wrong, stained, damaged or not arriving
If any of these problems occur some extra protection is useful. Of course not every eventuality is covered. If you or your other half gets cold feet, the costs remain yours. Most policies will not cover change of mind.
Like all insurance policies wedding insurance is available from a wife range of companies. Just as with all types of insurance and general financial undertakings you need to shop around and try to get the best deal for your own circumstances. Although it is an extra cost the reduction in worry it buys is well worth it. Planning a wedding is stressful enough with concerns over cancellation costs adding to your already elevated stress levels.
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