From cancelled venues, last minute injuries and bankrupt suppliers – to damaged wedding dresses, ruined marquees and unexpected law suits. Is it any wonder that Aussie couples are turning to wedding insurance to protect their big day?
Would it surprise you to hear that, In the UK, 1 in 4 couples choose to insure their wedding?* Until recently, Australian couples haven’t even had access to wedding insurance. Now that they do, they’re certainly making the most of it.
Dream Wedding Insurance, Australia’s leading wedding insurance provider, has seen record sales since the beginning of 2016. Stuart Catt, Co-founder of Dream Wedding Insurance says “We’re exceptionally pleased that more and more couples are choosing to insure their big day. For most couples, their wedding is one of biggest expenses they will ever face… and that’s something that’s worth protecting”.
In October of last year, a popular wedding venue in Sorrento, Victoria was destroyed by fire. Fortunately there were no injuries, but the last minute disaster left many bride and grooms-to-be devastated.
When asked if the Sorrento disaster would have been covered under their policies, Graeme Dean, Co-Founder of Dream Wedding Insurance said “Absolutely. The cancellation benefit is one of the biggest reasons that our customers purchase a policy. We pay up to $50,000 for lost payments and deposits in the event of cancellation. We also pay up to an additional $30,000 to help our policy holders plan a comparable wedding within 45 days of the original date.”
The sudden interest in wedding insurance has encouraged many wedding businesses, such as venues and planners to team with companies like Dream Wedding Insurance to ensure their customers have the opportunity to protect their financial investment.
Bridal Coach, Alexandra Gilles of Kisses and Cake says “We recently collaborated with Dream Wedding Insurance and found their concept to be a really sensible option for engaged couples. A wedding requires months of planning and has hundreds of moving parts. For a couple who has not planned an event before there are loads of things that could go wrong. We’ve heard horror stories of caterers going bust just days before weddings, wedding gowns lost in transit and marquees collapsing due to unruly guests. The more prepared a couple can be for any disaster the better. After all, you wouldn’t travel overseas or drive a car without insurance, so why would you spend tens of thousands of dollars on one day without the same peace of mind?”
In addition to cancellation and rescheduling, wedding insurance provides coverage against lost, damaged or stolen wedding dresses, rings and gifts. It also covers supplier failure, marquee and equipment damage, wedding transport failure, and personal liability. Policies range from $235 to $1285 and can be purchased online at dreamweddinginsurance.com
With an expected 125,000** weddings taking place in Australia in 2016, wedding insurance is quickly making its way to the top of the to-do list for Australian couples. Like all insurances, you buy it and hope that you’ll never have to use it. But if you do, it may just be one of the most important purchases that you make.
About Dream Wedding Insurance
Dream Wedding Insurance is underwritten by the largest insurance market in the world, Lloyd’s of London. With a policy to suit all budgets, Dream Wedding Insurance provides coverage for weddings taking place anywhere in the world. Dreamweddinginsurance.com is Australia’s leading online wedding insurance platform. Policies can be purchased in less than 5 minutes.PROTECT YOUR BIG DAY!
*Moneywise UK **Estimate based on Australian Bureau of Statistics