Time to consider Wedding Insurance?
At a time of year when many weddings are in the process of being planned couples are being urged to consider effecting Wedding Insurance.
Statistics recently released suggest that the average wedding now costs £20,000. Many people do not realise that specialist insurance to cover their weddings is available. With in excess of 300,000 wedding a year in the United Kingdom, it is estimated that as little as 20% are insured. If we start with the most basic form of cover available, cover for wedding gifts and presents can usually be covered under a homeowner insurance policy. Some policies will even include an uplift of the basic sum insured by 25% to include the influx of gifts coming in to the home. Always check with the product provider as even if you see this section listed in your policy, you may need to pay an additional premium.
The actual wedding venue itself has changed much in recent years; traditional weddings were always held in churches with some people opting for a registry office. Now a seemingly endless list of options is available from a stately Grade 2 listed building through to football grounds and even on the beach of a foreign distant shore. On the whole, venues need to be pre booked; especially Listed Buildings that are open to the public and hardly any will consider returning a deposit following cancellation. With the weather in this country becoming more abnormal, particularly now in the summer months, many a persons big day could be ruined by bad weather. However, before any planning starts a suitable insurance policy should be considered to provide some protection against something going wrong and spoiling the big day. Basic Wedding Insurance polices are available from around a £100.00 and the advantage of effecting cover early is that cover will start straight away. This is very useful if you are obliged to hand over a fairly hefty deposit to the venue you want to use.
Typical sections of the policy include:-
Cancellation
Loss of or Damage to Wedding attire
Photographs
Wedding Presents
Wedding Rings
Wedding Cake
Loss of Deposits
Public Liability
All of the sections provide valuable cover but probably the Public Liability is the most valuable, weddings on the whole are enjoyable but there are plenty of stories of lively incidents. The actual cost will vary dependent on your sum insured and needs, if you have special requirements, it is best to talk them over with the insurer.
