Are you confused about wedding insurance? So are many people when they consider how to prepare for their wedding day. That’s perfectly understandable given that it’s a fairly new product as far as insurance goes, so we’ve put together a guide to wedding insurance to stop you getting cold feet.
Do I need Wedding Insurance?
Whether you really need wedding insurance or not comes down to how much is at risk and needs protecting.
In other words, how much will your wedding cost and is any of that spend covered by exisiting arrangements? Remember that if you have paid with a credit card for anything costing between £100 and £30,000 then you should be able to claim your money back from your credit card provider, using section 75 of the Consumer Credit Act. This applies even if just the deposit was put on your card.
If you are more of an anxious person then you may appreciate wedding insurance more than someone who is less likely to worry about things going wrong.
At EmeraldLife we include discrimination cover with our wedding insurance so if you feel that you represent a group who could be unfairly treated by venues or providers then our cover may be a good precaution.
What does wedding insurance cover?
Wedding insurance generally covers a wedding ceremony or reception cancelled or re-arranged due to an accident, illness or bereavement within the main wedding party, or if a supplier goes out of business.
Wedding suppliers like cars and photographers may also fail you due to unforeseen circumstances.
We also cover loss and damage to the main wedding outfits and wedding dress as well as presents, rings; the cake and flowers. It is this comprehensive cover that we feel makes our wedding insurance a high quality product rather than offering a basic package and loading it up with expensive add-ons.
The amount you can claim if things go wrong depends on the level of cover you purchased. At EmeraldLife we start at a premium of £49 for cancellation cover of up to £7,500 and re-arrangement cover of £12,500.
This rises with four flexible levels of cover up to our Platinum wedding insurance with a premium of £299 that covers cancellation up to £100,000.
Should you have to make a claim then you will probably have to pay an excess. At EmeraldLife this varies between £25 and £250 on each section (i.e. attire or rings) depending on your level of cover but this is made clear when you apply.
What isn't covered by Wedding Insurance?
You can't make a claim for a situation that you already knew about. Unfortunately that includes medical conditions that you worry could get in the way of your ceremony.
We also don’t cover cold feet if either partner changes their mind or if you decide you cannot afford to go ahead with your plans.
Remember that standard wedding insurance doesn’t cover your honeymoon so you will probably want to take out some travel insurance to cover that which we are pleased to offer here at Emerald.
Many insurers allow you to add extras for expenses such as marquee cover, ceremonial swords cover, public liability cover and weddings overseas. At Emerald our wedding insurance already provides worldwide cover but we include marquee insurance and ceremonial swords as optional extras.
How much should I insure my wedding for?
According to bridal website Hitched, Wedding venue hire is naturally the most expensive cost for most couples at an average cost of £4,354. Next the wedding dress tends to be a significant expense. You should work out what you are spending on each aspect and find a policy that covers each of these adequately.
Wedding gifts are an important addition you may not have even considered yet. First Direct research shows that the average wedding gift was worth £51 in 2012. With the average UK wedding hosting 96 guests, the bank says a couple will typically receive £4,896 worth of gifts on their big day.
These are good indications when deciding which wedding insurance policy is right for you because you know how much you are spending on each category which you can then buy the right amount of cover for.
When should I buy Wedding insurance?
Most wedding insurance policies, including EmeraldLife, allow you to take out wedding cover up to two years before the ceremony.
Some customers ask if our wedding cover from £49 is a monthly payment when actually it’s a one-off payment – an understandable confusion with most insurance products working on a subscription-style basis.
If you have already paid out for the reception and other expenses you'll still be able to get insurance – and you'll know exactly how much to insure your wedding for.
How do I claim?
If disaster strikes then ring your insurer, with your policy number to hand. Make sure you do so as soon as possible – most insurers stipulate that you must let them know within a set timeframe, usually 31 days after the event.
If you are on an extended honeymoon and need to make a claim, you should still do so as soon as possible, even if it's difficult to find a phone or computer – check your policy document for the correct telephone number.
Can I take out wedding insurance for a civil partnership ceremony?
Yes, at Emerald Life we include civil partnerships in our wedding insurance. We were also the first UK insurance provider to allow the prefix “Mx” for non-binary and transgender people, or indeed anyone who would rather identify that way.