The big day of everyone’s lives, the wedding day, is very important for us. It’s a time when all the loved ones get together to celebrate love and marriage. It’s also a very expensive celebration that can go from an average of £20,000 upwards.
There’s no actual limit of spending huge amounts of money when it comes to weddings. It depends on how many guests you have invited, the catering, the venue, the wedding dress, the rings, the cake and decorations and so on. This is why many couples would want to take out a loan for their wedding, as long as it will be perfect.
Spending so much money on the wedding day is actually an investment into having a great time. So, as any investor, you must ensure that it all goes according to plan. And yes, we’re talking about insuring your wedding.
Anything that has a value can get insurance. But is it worth insuring your wedding?
What Does the Wedding Insurance Policies Cover?
There are different insurance policies, all based on how much you are willing to pay. Here is what most policies will cover:
- A supplier didn’t provide their service.
- The venue cancelled on you or it got closed.
- You must postpone or cancel due to someone who’s important in the family or key to the wedding got sick or died.
You will not be covered by the wedding insurance policy for the following issues:
- One of the partner doesn’t want to get married anymore.
- You cancel due to minor issues.
Read carefully the details of what a wedding insurance policy covers or not, before getting one.
Some policies can also cover other issues, if you’re willing to pay some more money:
- It will cover the bad weather
- Comes with marquee coverage
- Public liability
If you’re going to spend a lot of money for your wedding day, it’s best to have it insured. And it’s not even expensive, considering how many issues it can cover. With only £25 you can get a £6,000 and if you pay £60, you’ll get a £10,000 policy. The prices will vary depending on the insurance, and so will the coverage, but nonetheless, it’s a thoughtful decision.
Adam Powell, The Head of Operations from the Policy Expert, said that they will offer over the policy 10% more to cover ‘for the month either side of your wedding as standard, meaning you can cross the threshold on your return from honeymoon without any nasty surprises’. He also added that as long as the insurer knows about it, protection will be automatically increased. He has also recommended the soon-to-be-married couples that they should check the policy and see if they will get ‘the right level of cover before’ tying the knot.
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