Wedding insurance is not obligatory, but it can offer peace of mind for a relatively small investment. When deciding whether or not to purchase cover for your wedding day, remember that even if you do not purchase insurance you will need a contingency plan to cover unexpected costs. It is not uncommon for accidents to occur, or for unforseen incidents to disrupt plans. Consider the following pros and cons of wedding insurance:
Pros
> Peace of mind - if something should go wrong on the day, you are insured.
> Cost - weddings are notoriously expensive, but a basic wedding insurance policy is typically inexpensive.
Cons
> Cover - no policy will cover you for all eventualities, and you may not be able to claim for every incident.
> Cost - a wedding is an expensive commitment, and you may consider insurance to be an unnecessary extra cost.
Example Scenarios
> 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 closed roads. Guests are unable to attend: wedding cancellation insurance pays the costs involved in rearranging your day.
> Cake maker goes out of business. Wedding cake cannot be made. Cake insurance refunds your deposits.
> Guests damage carpet and chairs at reception. Hotel demands compensation. Liability insurance covers the cost of damages.
> Bride tears hem of dress when trying it on. Hem must be repaired: dress insurance covers cost of repairs.
> Bride and bridesmaids struck down with severe food poisoning after hen night. Wedding cancellation insurance pays the costs involved in rearranging your day.
If you decide wedding insurance is unnecessary, make sure that you put money aside in a contingency fund, to cover costs if the unexpected does happen.
