Wedding insurance is a relatively unfamiliar concept in South Africa. However, with the rising costs of wedding ceremonies, attire, catering, entertainment, venues, and so on, it certainly merits some consideration. Insuring your wedding works in much the same way as insuring any other valuable investment. There are various policies available, depending on your needs and desires. Wedding insurance ensures that various aspects of your big day are covered financially in the case of an unexpected disaster or event. Examples include:
- Your transport not arriving on the day of your wedding
- The groom getting the luggage containing his suit lost by the airport
- The venue burning down or becoming bankrupt shortly before your reception was due to be held there (this also means losing your deposit)
- Your photographer passing away on the morning of your wedding
- Your dress being damaged by flood, fire or a personal accident
- Your caterers’ double-booking and no longer able to cater for your wedding
- Your wedding rings being stolen
These are just some of the things that could go wrong and end up costing huge amounts of money in replacement costs. Wedding insurance gives brides and grooms peace of mind that the large amounts of money invested in their day will not disappear at the hands of unreliable service providers, accidents or natural disasters.
It is essential that, before paying big insurance fees, you check with each of your wedding suppliers to find out if they have private insurance policies. These may be included in your package, saving you the additional cost of having to include them in your private policy. It is also crucial that you have read and understood the conditions of the insurance. For instance, a policy may insure you against a flood, but not against rainy weather (even if that does mean mud on your dress or the postponement of your wedding).
Another factor to consider carefully is that wedding insurance does not cover the cancellation of your wedding due to your own feelings or a sudden change of mind. Even if you have discovered infidelity or another important issue that means that you are no longer willing to marry your fiancé, the insurance policy will not be responsible to reimburse either of you for costs incurred in deposits, hiring or purchasing of goods and services.
Although wedding insurance may seem like yet another expense that your big day is incurring, it certainly is priceless in terms of the security and peace of mind it brings you, as a couple. Do not begin your new life together immersed in debt or looking back on a wedding day that was less than perfect. Consult with a professional insurance broker and enquire about available policies to protect you and your most special day.
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