If you're in the process of arranging your wedding, you might be considering whether it's worth taking out specialist wedding insurance, which covers your financial losses if you need to cancel or reschedule the event.
Here, we outline what wedding insurance does and doesn't include, and offer advice on how much you might need to spend on a policy.
The cost of tying the knot in 2024
The average cost of a wedding was £23,250 last year, according to Hitched. That's up from £20,500 in 2023, and £18,400 in 2022.
Hitched's survey found that 40% of couples spent more than £10,000 on their big day, while 25% paid more than £30,000.
Half of newlyweds said they went over their original budget. One of the most common ways couples dealt with higher costs was by including more 'DIY' elements in their wedding than they originally planned.
Find out more:What does wedding insurance cover?
From venue hire to entertainment and catering, the costs of getting married can quickly rack up.
And if the worst happens and your wedding gets cancelled or disrupted, you may struggle to get your money back.
Hitched's survey shows 37% of last year's newlyweds took out wedding insurance to protect their big day. Policies commonly cover the following:
Cancellation cover: Failure of suppliers:Lost, stolen or damaged items:Legal expenses and personal liability:As with all types of insurance, it's important to read the small print before you buy as policies can vary significantly.
For example, insurers may not pay out for cancellation because of bad weather, and weddings abroad may also not fall under standard cover, so you might need to buy an add-on.
How much does wedding insurance cost?
Prices will be influenced by factors such as the cost of the wedding and the date you're getting married.
We used the comparison site Go Compare to run an example quote. We said we were spending £23,000 on a ceremony and reception at a venue in the Worcestershire town of Kidderminster on Saturday 2 August.
Premiums started at £95 for a policy with cancellation cover up to £23,000. Choosing a more expensive policy, however, will get you more significant cover.
The priciest product (£119) included £32,000 cancellation cover and, unlike the cheapest option, would pay out if something happened to the wedding rings or if you had to rearrange the event.
Insurers also offered optional add-ons such as marquee cover and guest public liability cover. The latter protects you financially if you or your guests are found liable for injury to a third party or damage to property.
You may already be covered
Before buying, check your existing insurance policies, as you might find you already have some coverage.
It's also worth speaking to your insurer to see if they will increase your existing contents insurance coverage for a set time before and after the big day so things such as dresses, suits, gifts and decorations are covered.
Our analysis of contents insurance policies in September 2024 found that around two thirds offered increased cover for one month before and one month after the wedding of someone in the household. The boost can be as much as 20%.
Pay by credit card where possible
When paying wedding suppliers, try to use your credit card if you can.
Despite these protections, just one in five newlyweds used a credit card to pay for their event. This could be because many vendors don't accept credit card payments or prefer to receive the money via bank transfer.
What if you're travelling abroad?
Although standard wedding insurance policy won't apply to weddings abroad, many insurers offer specialist cover.
Even with wedding insurance, travel insurance is still essential to cover the bride, groom and guests before and after the wedding.
And, if you plan to go abroad on your honeymoon, travel insurance is also essential.
Find out more:source https://www.which.co.uk/news/article/average-cost-of-getting-married-hits-23000-should-you-take-out-wedding-insurance-aKxgq9B0jEHW