WEDDING INSURANCE

Wedding insurance is an essential requirement to factor in to the planning of your ‘big day’. It is increasingly advisable for couples planning their nuptials to take out appropriate cover. After all, if a function is costing £15,000 to £20,000 then insuring it is "a fairly sensible thing" to do.

Couples should insure against disasters such as the venue having a fire. And insuring the big day is of even more concern if couples opt to have their wedding in a marquee or in premises not usually hired out for functions, when public liability insurance cover will be needed to protect against claims for injury or damage.

According to a survey by You and Your Wedding, the average wedding now costs £20,273. Entertainment is the biggest expense, with the second highest cost being the honeymoon. And the average man spends £1,412 on his beloved's engagement ring.

Wedding insurance is not obligatory. The main benefit of wedding insurance is that you are protected in the event that something goes wrong. The following scenarios highlight typical advantages of purchasing wedding insurance:

• Flooding leads to public transport strikes and road closures and guests are unable to attend: wedding cancellation insurance will cover the costs involved in rearranging your day.
• The maker of the wedding cake goes out of business meaning the wedding cake cannot be made. Cake insurance refunds any deposits paid.
• Your guests damage carpet and chairs at your reception and the venue demands compensation. Liability insurance covers the cost of damages.
• The bride tears the hem of her dress whilst trying it on. The hem must be repaired: dress insurance covers cost of repairs.
• The bride and bridesmaids are struck down with severe food poisoning after the hen night. Wedding cancellation insurance covers the costs involved in rearranging your day.

With many weddings now costing upwards of £10,000, for the cost of an extra tier on the wedding cake you can purchase a wedding insurance policy that will cover many of the nightmare scenarios that haunt prospective brides and grooms.

Increasingly, couples organise their big day independently - booking venues, catering, flowers and the rest separately - meaning that many of the costs are not insured and there is no central point of complaint or recompense if things go wrong.

Different wedding insurance providers offer different cover so it is important to tailor one to your needs. Most policies have different levels of cover that you can choose from and will specify how much will be paid in different circumstances. Couples should consider what their most significant costs are and choose a policy to cover them.

A key detail of a policy is the amount that it will pay in the event the wedding has to be cancelled. This can range from a few thousand pounds for the cheapest levels of cover, to as much as £50,000.

What is covered?

A quick total of the various costs will give you an approximate figure. The cancellation amount will pay if the venue cannot be used or if a key member of the wedding party – bride, groom and parents or guardians – dies or is ill or injured before the ceremony.

Policies will also pay if the wedding dress or other special outfits are lost or severely damaged.

If the wedding has to be cancelled because those paying for the wedding are made redundant, policies will payout. However, the policy will usually have to have been in force for eight weeks before notice has been given.