Wedding Insurance - A Dummies’ Guide

Admittedly, wedding insurance is the last first thing you on your mind when the love of your life asks you to do him the honour, but this guarantee shouldn’t be forgotten on your big day.

Him (down on one knee): “Will you do me the honour of becoming my wife”.

You: “Yes”.

Now you picture yourself wearing an Alberta Ferretti dress, in a capacious country manor party as you proudly exhibit a sparkling Lucie Campbell platinum ring. Public liability, Actual Cash Value or how you are going to get the best Wedding Insurance providers for the job, however, are not at the forefront of your mind.
So why would you insure your wedding day?

Insuring your wedding day is effectively accepting that something could go wrong, and although major wedding disasters happen everyday, wedding insurance is often not on the list.

Although the number of couples getting hitched has fallen by 39% over the last 40 years, according to the Alliance Trust research centre*1, the average wedding price tag has shot up. Working out how much it costs to get hitched can be really tricky as there is always something you forget. However, smart insurance companies provide wedding budget planners so that the margin for error is smaller.

The most expensive wedding recorded to date was for a Shiek's son. It was held in a purpose-built stadium in Dubai and cost more than £22 million. It was estimated, in March 2007, that the cost of a modern wedding in the UK is approximately £17,000*2; a huge investment and risk considering wedding insurance policies start at just £30.

The top ten Claims are:

1)Damage to wedding attire
This is useful if drunken Uncle Nick is his usual tipsy self and spills red wine over the groom’s bespoke Gresham Blake charcoal worsted suit!

2)Re-taking the wedding photos
It takes a while to find a photographer with a like-minded artistic vision and the average cost of getting the right snaps is £400*3. Don’t loose out if your photographer forgets to load the film!

3)Cancellation of the whole wedding due to illness or bereavement of the immediate family
With a £17,000 price tag, an illness doesn’t have to mean starting from scratch. In the worse case scenario, insurance should cover you and make it possible to postpone, not cancel, your big day.

4)If the caterers don’t show up
Too many people have been swindled out of money when caterers don’t show up and no one wants hungry guests and no cake. Ensure that unreliable suppliers are covered in your policy.

5)Loss of wedding rings
Losing your ring is not uncommon; messy stag and hen nights often end in ring-disaster, but a comprehensive policy won’t just cover you, but everyone in your wedding party including your groom’s irresponsible best man. Sadly insurance can’t cover the damage caused by his speech.

6)Failure of wedding transport
Whether an elusive horse and carriage, or a vintage car that runs out of petrol, remember that policies should cover no-shows as well as the cost of rearrangements!

7)Cancelation of the venue due to a double booking
Admittedly, you’re going to want to murder the person responsible for a double-booking, well him or the other bride, but things could be worse. Take a deep breath and remember that your wedding isn’t being cancelled, you still have a groom and your dress is definitely nicer than hers. Then call up your insurers and get a better venue too!

8)Public liability property damage
Public what? Ah yes, this is important. If your gorgeous groom’s granny falls and bruises her ankle, or the maid of honour’s teenage son ( aka the devil child) decides to kick a ball through the sash windows of your beautiful venue – you won’t be shelling out thousands!

9)Wedding presents being lost or stolen
Finnish brides traditionally went door-to-door collecting gifts in a pillowcase, accompanied by an older married man who represented a sustained marriage. The presents are one of the best bits about getting married so it’s important that they are safe.

10)Financial failure of suppliers
In the credit crunch it is more likely that small businesses fail to deliver, so don’t let their liquidation spoil your big day and instead ensure that the failure of all your suppliers is covered in your policy.

Unfortunately insurance doesn’t cover every disaster. In this country it is not unheard of to have rain during summer in the UK and brokers are yet to come up with a way of insuring against cold feet on the day, both literally and metaphorically. Good wedding insurance can, however, offer great peace of mind at a very affordable cost. Negotiate good cover with a reputable company and then enjoy the day, even when the unexpected occurs!

*1 Alliance Trust research centre
*2 Costs are exclusive of honeymoon costs, You and Your Wedding Magazine research, June 2008.
*3) Wedding Guide UK.com