As the Royal Wedding celebrations settle into fond memories, London brides and grooms-to-be are warned to be wary of massive financial loss if they neglect to protect their upcoming nuptials.
Specialist insurance expert Johnathan Lloyd, from Lycetts, has advised that any couple making like Prince Harry and Meghan Markle and tying the knot should be aware of hidden risks. If not, new couples could face thousands of pounds of loss.
Though it may pain prospective couples to consider it, there is a risk of things going wrong in the run-up to their big day. Additional insurance can help cover for issues such as stolen wedding gifts, or missing rings, says the specialist.
Johnathan said: “A lot of planning goes into weddings, as does a lot of hard-earned cash, but despite this, ensuring sufficient protection is in place is often overlooked or not on the couple’s radar at all.
“This is somewhat understandable, as there is much to consider, but we have seen first-hand the upset and heartache caused when unsuspecting, underinsured couples take a hit, especially at an already financially stressful time.
“We have found that many couples assume their contents insurance protects the high-value items associated with weddings, such as the wedding dress, gifts and rings. But this may not be the case. Having these high value items in the home may exceed the policy limit, leaving couples vulnerable if they wish to make a claim.
“For example, if 100 guests each gave a present worth £50 to the happy couple, all of a sudden an additional £5,000 worth of goods are under their roof.
“Burglars are known to target unoccupied homes, and the gift-laden house of a couple on their wedding day or honeymooning is particularly attractive prey.
“Many insurers will increase contents cover for a period around the wedding but couples need to speak to their insurer to check if this can be done, what it protects and for how long.”
He suggests that couples should consider wedding insurance to cover a range of potential issues, such as venue cancellation.
The Royal Wedding cost millions, and though it might be unlikely that the average couple would hit that level of spending, weddings are still a costly event with an average spend of £20,000. Newlyweds could be entering married life significantly out of pocket if an issue arises.
Jonathan said: “When you consider how much money is at stake, wedding insurance is a small price to pay for peace of mind. 
“But couples need to be aware that some policies differ significantly, so read the small print and be aware of any limits and exceptions.
“For example, cancellation cover can vary significantly, from as low as £3,000 to as high as £60,000. Couples should have a clear idea of how much their wedding will cost, so that they are not left in a situation where they are underinsured.
“It is also worth bearing in mind that some eventualities won’t be able to be claimed for, such as cancellation due to a spouse’s change of heart, and in some circumstances additional or specialist protection may be needed, such as for marquee use, an extravagant dress breaching policy limits, or overseas ceremonies.
“It may take some time and planning but it will help couples get hitched without a hitch.”
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