Common wedding insurance mistakes
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Although we never like to think about it, just as with any other event things can and do go wrong during our wedding. And weddings can be expensive occasions, so the idea of protecting the money you are investing in this most special day is both attractive and practical. The best way to give yourself peace of mind in your wedding planning is to take out wedding insurance. But there can be misunderstandings about what is actually covered in your insurance, as well as how much money you may expect to be reimbursed.
Here are some common wedding insurance mistakes that you should avoid.
Wedding Insurance Mistake 1 - Expecting to be covered if there is a change of heart
There are circumstances in which you can expect your insurance policy to pay out. These can include a chance in financial status that is beyond your control, such as losing your job. If you can prove that you can no longer pay then your insurance company will likely compensate you for money you have already spent.
And if there are serious health considerations these can also be covered. Although, you are unlikely to be covered for conditions that exist before you took out the insurance and for some illnesses, depending on your insurer.
What definitely won’t be covered is a change of heart. If you or your partner decide that this marriage just isn’t the right thing to do, your insurer won’t pay out if you cancel the wedding.
Wedding Insurance Mistake 2 - Expecting your insurance to pay out if you aren’t happy with services
If you feel you have had poor service from the venue, such as burnt food or sub-standard decorations, you can’t claim this on your insurance. Instead, you should take up the complaint with the supplier themselves.
Wedding Insurance Mistake 3 - Taking out wedding insurance too late
Wedding insurance will compensate you for expenses and issues that happen after you have taken out the policy, but if you have already paid a hefty deposit on your dream venue the policy won’t cover that.
In addition, many policies will not cover you if any of your pre-booked suppliers go out of business within 14 days of taking out your policy.
The good news is that you can take out cover up to 2 years in advance of your wedding day, so there’s no need to get caught out by this.
Wedding Insurance Mistake 4 - Not reading the small print
Do you really know what’s covered? You can find out by reading through the small print. Yes, we know it’s boring! But it’s the best way to be clear on what you are, and are not, insured against. Every policy has its own set of exclusions, especially if you choose a cheap policy, so you need to make sure yours is right for your needs.
And don’t assume that if it’s not covered you can’t find the particular cover you want elsewhere. Wedding planners are set up to help you with this, as with so much else, to make sure your special day goes beautifully.