With the exception of buying a house, weddings are one of the most expensive purchases modern consumers make.
The average total cost for weddings in the UK is currently £30,000. In addition to being stressful and costly, weddings can be a year-long headache and appropriate insurance should always be purchased to protect the time, effort and expense invested into your special day.
Protecting your investment
Pre coronavirus, wedding insurance was a commodity that is rarely ever claimed due to the meticulous manner of planning, deposits for vendors, and a sophisticated and thorough booking system adopted by venues and suppliers. However, with thousands of weddings already canceled during 2020 as a result of government restrictions, insurance companies have been inundated with queries and concerns from concerned couples.
For those who are currently in the process of planning their wedding and others who are awaiting a potential cancellation, find out how to be comprehensively protected and what you’re entitled to.
Is my wedding insurance still valid?
If you currently have a wedding insurance policy in theory your conditions should remain upheld. Unfortunately, depending on your provider, not all policies will cover delays to or cancellations surrounding your wedding as a direct result of coronavirus. The first thing you need to do is contact your provider, ideally over the phone to discuss your initial concerns.
An in-depth study conducted by Which? highlighted the brands that are covering cancellations from your venue and associated purchases. These firms include John Lewis, Emerald Life, and John Debenhams. However, these companies will not cover cancellations that occur as a result of travel restrictions to the wedding venue. For example, if you have booked a wedding abroad, and are advised by the government not to travel, you are most likely not to be covered.
What if I have Coronavirus?
In the instance that you, your partner, or perhaps a close family member becomes ill, you will most likely be protected by your current policy alike a typical illness. However, if you take the insurance out after your diagnosis you will not be protected, nor if you have come into contact with an infected person and are then obliged to self-isolate during your wedding dates. In addition, if a vulnerable family member is shielding, this will not be covered in your agreement.
If you find yourself in this predicament, do try and postpone your wedding to avoid needing to claim on your policy. Sadly, venues and wedding professionals have been devastated by this year’s restrictions and if approached early it will also be in their best interest to try and accommodate a new date.
Will My Wedding Insurance Cover Our Honeymoon?
In principle, your honeymoon plans should be covered by your travel insurance and any losses should be addressed with your appropriate insurer. To make a successful claim, you will need to wait until your flights or holiday package is canceled by the provider before even enquiring about a potential claim/refund.
As we’ve seen throughout the year with typical holidays, many airlines and venues have been offering customers the opportunity to rebook for a later date.
Should I Still Take Out a New Wedding Insurance Policy?
In the current climate, all new wedding insurance policies are suspended whilst companies weigh up the potential risks involved with the Coronavirus.