Your best friend is running late and the pageboy drops the ring. Find out how to insure your wedding or civil partnership so it doesn't cost a fortune if disaster strikes.
Expect the best, plan for the worst
Planning for a wedding or civil partnership can be expensive and complicated. But when there's so much money at stake, you might consider taking financial precautions.
Whilst wedding insurance can't stop the disasters from happening, they can at least help with the financial cost of rearranging your wedding.
According to bridal magazine, Brides, the cost of the average wedding can quickly add up. A good proportion of this just on wedding outfits, gifts and wedding rings. If you need to cancel the wedding altogether, you could be looking at a loss of over £10,000 on the wedding venue, reception and catering.
So, expect the best and plan for the worst. Wedding insurance can help you recoup some of the costs of your wedding if you need to cancel or postpone the date.
What type of wedding insurance do I need?
First of all, ask yourself whether you need specialist wedding insurance or if you can manage with cover that you may already have.
Home contents insurance
For events that happen in your home and cause damage to your wedding dress or wedding gifts, you may be able to claim on your home contents insurance.
Contents insurance pays out when the items in your home are lost or damaged as a result of fire, theft, flood and vandalism.
If you have accidental damage cover, your wedding goods may also be covered against spillages and breakages.
Of course, many weddings don't take place at home, but you'll still want to insure your wedding outfits and rings when you're travelling to the venue and at the reception.
Personal possessions insurance covers personal belongings, like clothing and jewellery even when you're out and about.
At LV= we also provide additional cover for special events at no extra cost. We'll increase the amount of cover on your contents insurance by 10% for one month before and after your wedding or civil ceremony.
So, home contents insurance can cover some wedding items if they're damaged or lost, but it won't provide cover if you need to cancel the wedding. For that, you may need specialist wedding insurance.
Credit card payments
If you use a credit card to pay for items for your wedding, you may be covered under Section 75 of the Consumer Credit Act.
When you order something that costs between £100 and £30,000 with your credit card, and the retailer goes bust, you can often claim your money back from the credit card provider.
Events that wedding insurance won't cover
There are some events or items that won't be covered. These include:
- Changing your mind
- A wedding that lasts several days or takes place overseas
- Your honeymoon - you'll need travel insurance for that
- Pre-existing medical problems that lead to cancellation
One final tip... don't forget to insure your possessions including your new rings whilst you're on your honeymoon.
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