Wedding Cancellation

How to Insure Against Wedding Cancellation

How to Insure against Wedding Cancellation?

You’ve been planning for your ‘big day’ for almost two years and you are now within weeks of the ceremony. For some odd reason you pick up the morning paper and spot the headlines. At first it doesn’t register then all of a sudden you see that your bridal shop has gone bankrupt!

You haven’t had your final fitting and your dress is still in the shop. After repeated calls to a number which is no longer in service you are left with no choice but to start looking for a new gown.

At this late date it may be next to impossible to find the right dress and what about the £1.2 thousand you paid for that beautiful gown with a stunning beaded lace veil? How will you ever get the money together now to pay for another dress? Because of situations just like this so many couples are purchasing wedding cancellation insurance that will protect against losing thousands of dollars on cancellations, bankruptcies and even against the death/injury of the bride or groom.

How to Insure against Wedding Cancellation

What Does Wedding Cancellation Insurance Cover?

Although it is commonly referred to as wedding cancellation insurance, this particular policy covers more than cancellation of the wedding.

In today’s economy businesses are going under almost daily and we don’t know from one moment to the next if that caterer we hired or the banquet hall will still be operating months or even years down the road when our wedding day finally arrives.

Some couples book these venues as far as two years in advance and most often a sizeable deposit is required, sometimes as much as 50%.

Wedding cancellation insurance covers such things as bankruptcy of dress suppliers, banquet facilities, photographers and any number of wedding suppliers along the way.

As well, wedding cancellation insurance covers loss or damage to such things as wedding photographs, the bridal marquee and even to bridal attire. Of course it covers cancellation of the wedding should the bride or groom meet with an untimely death prior to the ceremony but it also covers cancellation due to death or injury of a family member. With today’s average wedding (not counting the honeymoon!) costing more than £15,000, the small cost of wedding cancellation insurance is a sound investment.

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How Much Does Wedding Cancellation Insurance Cost?

Before looking at how much wedding cancellation insurance costs, it is necessary to understand that there are two things which significantly affect how much you are likely to pay. The first thing which affects cost is the amount of insurance you need.

You can find policies which are written from £2,500 all the way up to £50,000 and even more in some cases.

Cancellation cover for a policy written up to £2,500 will probably have a premium less than £20 whilst a policy written for £50,000 in cover may carry a £199 premium.

The other factor which may affect price is the amount of excess written into the policy. Some wedding cancellation policies are not written with excess whilst others are. As in any other type of insurance, excess can significantly affect the total cost of the policy. In any event, the small cost of wedding cancellation insurance in relation to what you stand to lose is a small price to pay in today’s troubled economy.

If you are planning your big day, take the time to estimate what you are spending on the wedding, the banquets, the bridal attire and even the suppliers. Once you have that figure you can start shopping around. Take the time to compare several wedding cancellation insurance policies side by side to see which offers the best deal. Just make sure that you don’t leave this special day unprotected against financial loss. Wedding cancellation insurance can offer the peace of mind you are looking for.

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