INSURANCE IS NOT terribly exciting at the best of times, but when you are planning your wedding there really are 101 other things to organise - so why worry about insurance? Gillian Black LLB is a solicitor and member of The Law Society of Scotland. She is a lecturer at Edinburgh University's School of Law, where she teaches private law.
Unfortunately, none of the reasons why you might need wedding insurance are nice. They all involve unplanned disasters - from ill health on the day or a family bereavement, to the destruction of the wedding venue, irreparable damage to your wedding dress or the loss of the wedding rings. For most brides, their wedding is a considerable financial commitment and the cost of replacing or re-scheduling would be significant. If something does go wrong, the price of wedding insurance is likely to seem very small indeed compared to the potential financial loss incurred if the wedding is cancelled without appropriate insurance cover in place.
Need to know
If, however, you do decide to get covered, the first thing to think about is how much money you would stand to lose if something went wrong. You need to have a clear idea of the cost of finding a new venue/ a replacement dress/ a re-scheduled date, and you can then shop for insurance cover at an appropriate level. Once you have decided how much insurance cover you need, you might like to shop around and see what deals are available. As with everything, different insurance companies will offer different insurance policies, so it's worth reading the small print. How much will they pay towards a new venue, or a new date? Will the insurance cover apply if Great-Uncle Henry is admitted to hospital the day before the wedding, or are health issues restricted to immediate family only? Will they pay out for damaged wedding photos, stolen wedding presents, lost rings or an absent chauffeur? Do they offer marquee cover? If you can't find the answers to all your questions then just pick the phone up and ask them.
Making a choice
You should also consider the reputation of the insurance company. If it has a habit of contesting every claim made and never actually paying out then its "good value" wedding insurance may not be such a good deal after all - you might find that it's worth paying more for an insurance policy with a reputable company.
When you do decide which company you wish to go with, you will have to complete a proposal form. This is effectively your application, and it will usually ask a range of standard questions, such as any known health problems for you or your groom, the date of your wedding, and details of the venue and reception. It is absolutely essential that you answer these questions honestly. Insurance contracts are governed by a duty of utmost good faith and if you answer any questions dishonestly (or even if you tell a half-truth) then you could well find yourself with an invalid policy, which is like having no insurance cover at all.
What is covered?
The sort of thing that you have to disclose is anything which is "material", ie anything which is significant or important. If you aren't sure whether something is a material fact (do they need to know that granny is diabetic?) then a good rule is better safe than sorry: if you make the disclosure, they can make the decision as to whether it is important or not. Another point to remember is that insurance only protects against uncertain future events, so if you know something is going to happen then you can't insure against it. This also means that you can't wait until something has gone wrong and then try to arrange insurance - by this time it will be too late. Finally, it is worth noting that wedding insurance will not pay out simply because you change your mind at the altar...
This article has not been sponsored by the insurance industry! It is simply intended to provide a short guide to common concerns when seeking insurance cover. If you are in any doubt as to the enforceability of an insurance policy, you are advised to seek independent legal advice, and further details of solicitors can be found at www.lawscot.org.uk If you have problems with insurance companies you can seek help from the Financial Ombudsman: www.financial-ombudsman.org.uk
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