If you’re trying to plan a wedding on a smaller budget, you would be forgiven for thinking that buying wedding insurance might not be the best option for you. After all, it is an initial outlay and you may never use it. However, protecting your wedding against unforeseen issues is definitely a good idea.
Here’s why…
Anything Can Happen
There’s a whole host of things which can change your wedding plans, or even halt them altogether. Be it through personal circumstances changing, or simply because you can no longer bring everything together on the date which you originally picked, you may have to change your bookings.
Other factors can also be a problem, such as suppliers going into administration or global crises - such as the recent COVID-19 pandemic. It is impossible to predict when these things might happen, or how they might affect your wedding, so it’s best to be protected. For your peace of mind, some insurers are now starting to offer wedding insurance again, with COVID-19 restrictions built-in.
It May Save You Money
As already mentioned, it might sound odd to suggest that paying for something you might not need could save you money. However, if you aren’t covered, the costs you may incur if things do go wrong could be huge.
With insurance, you can get cover against things like penalty fees, or losing your deposit, both of which can be expensive. Plus, it's usually a nominal cost that is tiny in the grand scheme of your wedding budget.
Better Safe Than Sorry
Think about it, you wouldn't drive an £8,000 car without insurance, so why would you spend the same on a wedding and not protect your purchases?
Above all else, having wedding insurance gives you the peace of mind that you have a safety net should the unthinkable happen. Most couples get insurance when they've chosen and booked the venue, so it is very easy to include this cost in your wider wedding budget. Plus, safe in the knowledge that you have taken this very sensible precaution, you’ll be able to focus on making sure that the finer details of your wedding are spot on!
Remember, when you take out insurance, always read the small print to know exactly what you are covered for.