Getting Married? Do You Have Wedding Insurance?

Having a wedding insurance policy in place can avoid huge financial losses if something goes wrong in your home one or before the big say or even shortly after. This is something that all engage couples should consider as they plan the events of their wedding day, but the fact is that not many people know that this insurance cover even exists.

Wedding insurance is closely tied to home insurance. The gifts you receive for your wedding all add up and total a large sum of money. Guests sometimes deliver their gifts in advance and you keep them stored in your home until you have an official gift-opening party.

An accident before that date could destroy these gifts and without the proper cover in place you will not receive any compensation for your loss. According to research carried out by Direct Line, the average guest spend about £79 on a gift and even a small wedding can amount to a large cost in the value of the gifts. The larger the wedding, the larger this value will be.

Some insurance policies will increase around the time of a wedding, but you do have to let the insurance provider that there will be a wedding in the near future. However, the increase in the value of the policy may not be enough to cover the loss, should one occur. Today many couples register online with a wedding gift registry making it convenient for the guests to give gifts that they really need. When these are delivered, you must always inspect them to make sure they are in perfect condition.

Many engaged couples are now taking the additional step of taking out specific wedding insurance policies. This cover will ensure that they will not suffer a huge financial loss if something does happen and threatens their day. Although the cost of the gifts can add up, so can other items related to a wedding, such as the clothing, flowers and rings. These may all have to be listed in order to be covered under such a policy.

According to Andrew Lowe, who is the head of the home insurance division of Direct Lines, “The cost of the wedding dress, flowers, jewellery and outfits for the wedding party can easily run to many thousands of pounds, so it will be a shrewd newlywed who checks their insurance policy to make sure that all of their purchases and gifts are protected in the event of loss, damage or theft.”

He also added, “People should make sure they are adequately covered by their home contents insurance policy, and should contact their insurer if they have any questions about their level of cover.”

Wedding insurance policies can be tailored to meet your needs. If you are registered with an online gift registry, you should have cover that will pay for the loss of gifts that are not delivered. The premiums for such policies are not expensive, such as £49 for policies from Confetti and Debenhams. Some policies will even provide insurance if you are holding your wedding in another country.

The amount of the policy will depend on the size and cost of your wedding. There are different levels of cover that you can choose from with different prices quoted for loss of specific items listed in the policy.

In general, such insurance policies do provide cover for loss and damage of goods, cancellation of various aspects of the celebrations, personal liability and rearrangement of the wedding. However, there are very few policies that will cover the cancellation of the event altogether due to break up of the couple or because of the weather.

Tags: large cost, weddings, loss, wedding insurance, couples