What is the Motor Insurers Bureau (MIB) and what do they do?
I Now Pronounce You Fully Insured
When it comes to saying the big “I do”, most people would prefer not to think about anything going wrong. But the reality is that planning a wedding or civil partnership ceremony can involve a lot of people, from suppliers and service providers to the wedding party itself, meaning there are more than a few potential pitfalls.
What would happen if a nasty case of food poisoning prevented the groom from attending the ceremony and forced you to cancel? Or if your venue suffered severe water damage after a leak and had to let you down? With the average wedding now costing £20,500, you could be left severely out of pocket – particularly if you are arranging nuptials overseas or if your plans benefit from a big budget.
Here’s what you need to know:
What IS covered?
As with any event, the amount of potential risks increases the more your special day costs. Wedding insurance is specifically dedicated to covering aspects of a wedding or civil partnership, including supplier failure, venue cancellation and loss or damage to things such as wedding rings – whilst additional extras can include marquee cover and ceremonial swords, with dedicated policies for overseas weddings. Cancellation due to illness, injury or death of a key person or persons is usually covered as standard.
What ISN’T covered?
Always read the small print – although every policy is different, they usually won’t cover cancellation due to cold feet, or if you cancel the whole day when only a small aspect has gone wrong. You should also check whether you will get a cash payout – likely if, for example, the groomsmen’s suits are lost or damaged – or if the whole wedding is cancelled the insurer may pay for the cost of rearranging the wedding rather than a lump sum.
Doesn’t paying on credit card offer the same protection?
It is true that using a credit card offers a certain level of protection – purchases worth between £100 and £30,000 are covered under Section 75 of the Consumer Credit Act, making the card provider liable if you need a refund – even if you paid the deposit by card and the balance in cash. But the protection offered doesn’t replace specific wedding insurance, as it doesn’t include human elements such as someone falling ill or personal liability.
How far in advance can I buy it?
It’s never too soon – most policies can be bought up to two whole years in advance of the wedding, meaning you’d be covered from the moment you get booking.
Wait, I’ve already started planning!
Don’t worry if you’ve already bought the dress and paid a deposit on your venue. You can buy a policy any time up to the big day, with some able to be arranged at 24 hours’ notice.
Don’t forget about the honeymoon
Even if your policy covers travel, for example, if you are jetting off overseas for the ceremony, you’ll still need to arrange travel insurance separately for the honeymoon. As always, buy insurance as soon as you book your dream holiday to ensure you’ll be covered if something goes wrong before you go.