A Worrying Trend With Wedding Insurance in the UK


by Adam Leyton - Date: 2010-10-15 - Word Count: 523 Share This!

Current statistics relating to wedding insurance demonstrates clearly that there is a worrying trend as far as under insuring weddings in the UK is concerned. The average wedding in the UK over the last 12 months has been around £20,000. This includes the wedding itself, the reception and the honeymoon.

Very worryingly there are still an alarming number of couples choosing not to take out any wedding insurance at all. However, even amongst those who don't have such a touching level of faith in fate, it seems that on average most couples in the UK last year under insured their wedding by around 30 to 40%. In real terms we're talking about a shortfall of between £6,000 and £8,000, which is certainly no mean sum of money. For many couples today that represents either the whole or a significant chunk of the deposit needed to their first home.

Few young couples today can afford to risk around £7,000 on average, and yet in many cases the reason it seems for this shortfall is simply that couples don't appreciate the fact that it only takes one small thing to go wrong to result in the entire wedding having to be cancelled or postponed.

This doesn't mean postponing 60% of the wedding. It means postponing the whole wedding. It seems many couples seem to think that if the wedding venue burns down, floods cut off the whole area or the Bride and Groom go down with food poisoning, everything will be all right, and they will only need to postpone about 60% of the wedding! Quite how this is supposed to work isn't clear.

Yet these very same couples would hardly take the same approach if it was to do with car insurance say. If they were happily driving their car one day and happened to be involved in an accident, they would be pretty disappointed if their insurance firm turned round and happily offered to replace their car, all except the wheels, the engine and the seats. That would hardly represent a terribly useful mode of transport, nor a very comfortable one.

Discovering that at the very time you need your insurance that you'll only be able to claim around 60% of what you actually need is never going to work in any circumstances, whether it's car insurance, home insurance or wedding insurance.

Some people claim that the reason they under insure their wedding is because they believe that they have other insurance policies which overlap with their wedding insurance policy, and it is these other forms of insurance which will pick up the bill if needed.

This is dangerous territory, because in many cases couples will find that there are plenty of examples of small print where cover will not be provided under certain circumstances, and when you consider that the difference in price is little more the bottle of wine, it seems ludicrous to run the risk of finding yourself facing an £8,000 bill, and a wedding that has to be cancelled because there's no way in which the couple can foot the bill for the difference between their wedding insurance and the actual value of the wedding itself.


Our wedding insurance site has plenty more information on wedding insurance including full details of the study we carried out into couples under insuring their weddings.n
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