A question we’re commonly asked is ‘Do I need wedding insurance?’ Insurance is big business and is now offered for anything and everything including domestic appliances, pets and more. Truth is that in many cases, the cost of cover weighted against the likelihood of anything going wrong is disproportionate, for example, paying an additional £44, for an extended 3 year insurance policy on a £250 dishwasher. In our book, it’s probably not worth the 17% premium on the cost of an appliance that will likely last for 5 years or more anyway.

So, is wedding insurance worth having? Only you can decide this but lets have a look at some of the facts.

Wedding insurance cover can start from around £20 and can go up to as much as £300 for £100,000 worth of cover. Although insurance policies differ in what they cover and by how much, they mostly cover individual items such as wedding rings, wedding attire, photo and video, gifts, venue and of course wedding cancellation due to an unforeseeable, catastrophic event. When compared to the total cost of the wedding day, these policies tend to work out at just a fraction of the wedding day costs, usually around 0.5% of the total cost. As a rough guide, expect to pay around £80 – £100 to cover a £25,000 wedding.

In the scheme of things, paying an extra £50 to £100 for the ‘average wedding’. to cover potential problems on the big day is a small consideration when investing between £10,000 to £25,000 on the wedding. Even if it’s not for a full out cancellation, the cost of insurance is still likely to be cost effective against the loss or damage of single items such as wedding rings, the wedding cake, wedding dress and more.

Deciding if wedding insurance is worth taking out or not is entirely down to you and your budget. In terms of cost, it’s probably going to be one of the cheapest items on your entire wedding ‘to do’ list.