12 Jun Covid-19 and Wedding Insurance
If there is one thing we can agree on from this year, it is that the Corona virus has turned the world upside down. Our economy, wellbeing and sanity have been tested in these trying times, with many people having concerns over future plans. One of the biggest and most important plans you will ever make in your life is your wedding day. This is a day of celebration, love and getting all your friends and family to celebrate you and your partner coming together for the rest of your lives. With that being said, now, more than ever, wedding insurance should be the first thing you arrange. However, with insurance comes a lot of debating and confusion, especially now we have a new virus to contend with too. Cover has changed during this outbreak, so it is important that you know exactly what you’re getting (if you’re super busy and want a quick rundown on these changes, head to the ‘Read the Fine Print’ section.) Given that your wedding day should be a day filled with laughter, happy tears and love, insurance helps you to ensure that this goes ahead. But where do you stand in the current climate and what is actually covered?
First Things First
Although this might not be the most enjoyable part of organising your wedding, we cannot stress the importance of this first step. Whether your big day is next month or next year, our new not-so-friendly neighbourhood virus has highlighted the importance of wedding insurance. We like to look at it this way – Weddings should be treated like all of your much-loved possessions. Is your mobile phone insured, for instance? Or even your house, or your pets? Just like anything else you care about; insurance is key to ensuring the safety of your possessions. However, with uncertain times ahead, what does this mean for your insurance policy?
What is Covered?
Although different policies vary in what they offer, most wedding insurers will offer very similar cover for your big day. As we have mentioned, like insurance for anything else, wedding insurance covers all the important bits. For example, most insurance will protect and cover any deposits paid – this includes venue deposits, catering deposits and the deposit for your perfect dress. We all know things can happen to prevent your big day not going ahead, that is where your trusty insurance comes in. By being covered, you know that you have done everything in your power to avoid being out of pocket, should something arise that is out of your hands. But, remember that not all insurance covers cancelations due to the Corona virus – given that this is a new factor that insurers now have to think about when helping to cover you and your big day.
Read the Fine Print
Firstly, some good news. If you had taken out insurance prior to the Corona virus outbreak, then your insurance should still cover you for any cancelations of almost any nature. Now time for the ‘not so good’ news. Before taking out new insurance during this time, make sure you read the fine print – we cannot stress this enough. Some insurance policies mention in their terms and conditions that they do not cover for any ‘foreseeable problems.’ As it stands currently, the Corona virus is a foreseeable factor that may result in the cancelation of your big day. It isn’t all downhill from here though. As with other insurance policies, every case is unique. For example, if a venue has to cancel your wedding day due to the virus, that is a ‘fault’ of the venue, and you may still be able to make a claim. If you have any concerns about a new or existing policy, try giving your insurer a call and see where you stand.
It’s Never Too Late
If you started off reading this, feeling confident in your decision not to take out insurance and now not feeling so sure, fear not. It is never too late to purchase wedding insurance. Despite having said that the sooner you purchase insurance the better, you can actually purchase insurance at any time prior to the event (within reason). It is important to note, however, that some wedding insurers have put their services on hold for the time being, to wait for the current situation to calm down a little. However, this doesn’t mean that other insurers aren’t still selling new services.
Still unsure whether taking out insurance at this time is worthwhile? No worries. There are plenty of other things that can be put in place to ensure you don’t lose out in these confusing times – even without insurance. If a venue, for instance, is willing to hold your big day for you, they may say that there is only a small fee for cancelation. Or if you’re very lucky, a venue may allow you to cancel for free. It is within your rights to ask for this when you’re booking your wedding day and venues will usually be relatively flexible on terms – especially now. Remember, venues are struggling at this time too. So, they want to be as accommodating as possible to ensure they not only deliver a beautiful wedding day, but also secure the business.
Your wedding should be special, magical and one of the best days of your life. Instead of ‘doom and gloom,’ that the Corona virus is so cruelly placing on society now, we’re looking for ‘bloom and groom.’ Wedding insurance offers that safety net for you and your significant other to sleep well at night, knowing you’re covered for all eventualities. However, we understand that these uncertain times bring the feeling of vulnerability and lack of confidence in purchasing anything that may result in loss of funds. Your wedding planning should be filled with fun, not stress-induced headaches, so make sure you take your time to arrange what is best for you and your partner. The world is constantly changing, especially with the Corona virus still rearing its ugly head. But we can still dream of our big day, knowing we have done everything in our power to ensure the day runs smoothly or can be rearranged to a later date if necessary. The importance of reading and researching is key here, so do what feels right for you.