When should I take out Wedding Insurance?
Posted in General on 22 August 2011
Couples getting married can often be confused as to when it is best to take out a wedding insurance policy and with so much going on it can easily be overlooked until the last minute.
At Dreamsaver wedding insurance we would always suggest you take it out as soon as possible to ensure that you have cancellation cover when you start paying deposits. Remember that our wedding insurance can be purchased up to 2 years before the ceremony date and you are covered for that entire period with a one-off payment, so it makes sense to do it as early as possible. It also means that you will not forget to do it at a later date!
However, we do understand that with so many things to arrange for a wedding that wedding insurance may not be the first thing you think about. Usually the largest expense for any wedding is the venue, so a good time to take out wedding insurance is when you have paid the deposit for this. Dreamsaver wedding insurance will cover deposits that are paid before cover is bought, unlike some wedding insurance policies, providing it is in accordance with the company’s normal booking terms, i.e. you are not paying the entire cost upfront in order to secure a discount.
Similarly, there is no restriction on how close to the wedding you can purchase your Dreamsaver wedding insurance policy, unlike some other providers. We would not recommend leaving it too late to buy your wedding insurance as certain sections of the policy have a delay before they become active, most notably section 7 financial failure of wedding service suppliers. This section only comes into force 14 days after the policy has been purchased, therefore if a policy is bought and the wedding ceremony is within this time there will be no cover for claims relating to this section.
Another risk with leaving it late to buy wedding insurance is the requirement to declare a reason or circumstance that may affect the insurer’s taking on the risk; for example if your wedding is in the winter and adverse weather prevents you and the majority of your guests attending the wedding, then providing you bought your Dreamsaver wedding insurance policy in good time before the wedding you would be covered to cancel. This is because at the time of buying the wedding insurance policy you could not be expected to know it was going to snow on your wedding day.
If, however you purchased your policy a few days before the wedding, in the knowledge that it was likely to snow on your wedding day due to seeing weather reports, this would unfortunately not be covered by the policy as the information is in the public domain and likely to cause a claim.
Dreamsaver wedding insurance is available to purchase online and prices start at £24 for the Silver level of cover, so it does not cost much to ensure you have peace of mind for your big day, whenever you decide to protect it.