Wedding Insurance Statistics - Why Most Couples Miss 30% Of The Picture

Wedding insurance aside, let's just think about the sums for a moment, in the cold harsh light of day and with all of the romance stripped away. All right, I know that you're probably oozing with romantic thoughts as you plan excitedly for your wedding and the blissful years of happiness that stretch out ahead of you all the way to the sunset, but sometimes it makes sense to be practical for a few moments.
According to the latest statistics the average wedding in the UK costs £17,000. That word 'average' can often be misleading, because whilst it means that there may be many weddings which cost less than this, there are an equal number of weddings that cost considerably more.
It would be fair to say that the typical wedding in the UK costs in the region of £17,000. So, now for the practical bit. You're effectively spending about the same as the average annual salary in the UK on a single day during which a few friends and family will come along to see you and your partner sign a little bit of paper.
Granted, there's a good deal more to it than this, such as your lifelong commitment together, but essentially this is what it boils down to. When else would you splash out £500 on flowers, or spend £1000 on a photographer? When else in your life does paying £1,000 for someone to drive you half a mile seem like a good idea, and just how frequently do you intend on buying everyone you know a full five course meal with drinks?
Add everything up and it's an astonishing amount of money, and when you realise that there are at least a dozen different service providers involved in what amounts to something close to being a military operation, it's also a very great sum of money to risk. So many things can go wrong, and statistically something fairly significant will go wrong for one in every two weddings in the UK.
That's why taking out wedding insurance seems like such a sensible idea. Wedding insurance can protect you against so many things which can, and do go wrong, from the photographer accidentally deleting all your wedding pictures to the caterer failing to turn up, and from the venue double booking to the chauffeur unable to make it because a tree fell on the limousine in the night.
But whilst having a wedding insurance policy sounds like a very good idea, there's a warning here too, because the latest figures show some worrying news. According to data collected over the past twelve months the average wedding insurance policy costs around £40, providing approximately £12,000 worth of cover. That sounds good, but remember the average wedding costs £17,000.
That means that, on average, couples in the UK are under insuring their weddings by 30%, or £5,000. It often only takes one single problem to occur for the entire wedding to have to be postponed or cancelled, and this will inevitably result in the bulk of the £17,000 being placed at stake.
If you're planning on taking out wedding insurance then make sure you add up your sums completely and correctly, leaving nothing to chance. An extra few pounds on your wedding insurance policy could well mean the difference between being able to afford to reschedule your wedding, and having to wait for several years before you can save up the shortfall.