When it comes to wedding insurance, it is advised every couple should consider it to cover a million things that could go wrong. 

No matter how careful you might be, there are numerous unforeseen things that are liable to occur such as venue canceling, misplaced or stolen rings, or other natural disasters. 

Also, having seen the chaos Covid has caused, taking out insurance to secure your big day is very paramount.

Insurance to many is perceived as an extra onus adding to the big expenses that come with wedding preparations. 

This belief is far from the truth. Wedding insurance serves as a safety haven that compensates you for losses incurred through unexpected events listed earlier and even more. 

Imagine a situation whereby you have made deposits to suppliers but made no appearance on your special day.

In situations where you haven’t already taken out wedding insurance, all the accumulated out-of-pocket expenses might eventually make you go bankrupt. This, you don’t want for yourself.

Moving forward, several firms have emerged to offer affordable wedding insurance New Zealand. Some even cover foreign destination weddings. 

Read Also: Affordable Wedding Insurance in Ireland

How does wedding insurance work?

Wedding insurance for couples comes in two basic options: liability and cancellation or postponement, with some juicy extras available at an additional fee.

Liability insurance 

This covers damage to a venue’s premises and injuries or accidents suffered by any guests. Note that many venues request for this insurance before allowing you to use their property.

Cancellation/postponement insurance

This covers a broad range of unforeseen circumstances that put a threat on the gathering, from rehearsal dinner to reception.

Below is a more thorough analysis of what each component of wedding insurance might cover:

Liability

• Damage to the venue (such as broken chandeliers and furniture).
• Injuries/accidents to the guests.
• Venue rental.
• Wedding planners.
• Musicians or DJs.
• Photographers.
• Transportation for out-of-town guests
• Cancellation/postponement
• Caterers.

Liability insurance is mostly required by many venues but postponement or cancellation insurance didn’t really take popularity until the mass cancellations resulting from COVID-19 pandemic restrictions, which lasted for at least a year in many states.

What does wedding insurance cover?

The essential word here is “unexpected.” Note that coverage varies, but here are some things a policy may cover:

• Serious injury, illness or death of a close member of the wedding party or immediate family (some insurers have stopped giving coverage related to infectious disease).
• Adverse weather conditions such as floods, earthquakes, volcano eruptions, tidal waves, tornados, blizzards, or hurricanes made the venue unusable or unreachable.
• Venue declares insolvent.
• Vendors/suppliers no-show.
• Officiant no-show.
• Damage or misplaced wedding attire.

What Isn’t Covered Under Wedding Insurance?

No insurer covers everything. A lot of things will be excluded, such as:

1. Situations already known or expected at the time the policy was taken out (for instance, the venue’s approaching bankruptcy or the terminal illness of a wedding party member).
2. Government action (for instance, a regulatory agency’s restrictions on public gatherings to control infectious disease).
3. Nuclear attack.
4. Tumult and civil disturbances.
5. Strikes or lockouts (except if they take place at the venue and you can’t secure another option).
6. Injuries or accidents arising from individual adventures such as bungee jumping, climbing, horse riding, paintball, skating, skateboarding, or trampolines.
7. Injuries brought on by insanity or general bad conduct.

Before exploring the best affordable wedding insurance in New Zealand, let’s enumerate some basic pointers that might save you from unnecessary expenses.

Important Pointers To Note About Wedding Insurance

1)A basic policy might cover cancellations and postponements, while a more comprehensive policy can cover up to $5 million in personal/public liability. 

Whatever plan you decide to go for, ensure to get a policy that will at least cater for the unfortunate happening. Although the thing with weddings is what you are most worried about never happens. The issues that arise are usually so unexpected that even your wedding planner might be caught unaware.

2) Before making payment for a wedding insurance policy, be sure to ask your venue and suppliers if they have insurance. And if your losses would be catered for under their policy. If the answer is yes, it doesn’t end there, ask to see proof.

 3) Aside from wedding insurance, it is advised to also consider taking out health, accident, house and travel insurance, if possible. All of these are significant financial investments that are all worth it.

 4) Ensure you meticulously study your policy, including the small print, and seek guidance if you don’t understand all the terms and conditions. Even if you don’t need to make a claim, wedding insurance is worth the financial commitment for the tranquility that comes with it. Without wedding insurance, your special day might be memorable for all the wrong reasons.

Best Affordable Wedding Insurance Companies in New Zealand 

Here is a compilation of affordable wedding insurance companies in New Zealand:

• Dream Wedding Insurance
• Event Cover NZ
• Sage Partners Limited
• ChubbIinsurance 
• AON

Dream Wedding Insurance

Dream Wedding Insurance is backed by Lloyd’s of London. It gives coverage against wedding cancellation, postponement, rescheduling, vendor failure, damaged rented items, stolen or damaged rings/gifts/wedding wear, wedding transportation, and public/personal liability.

As a notable international wedding insurance provider, they brought a more comprehensive and cost-friendly insurance policy to New Zealand. 

Dream Wedding Insurance tops our list as one of the affordable wedding insurance in New Zealand. 

The firm is an expert when it comes to event risk management, hence making it a world-leading wedding insurance provider. 

The company was co-founded by Stuart Catt and Ben Webster and has operations in top countries like Australia, New Zealand, USA, Canada, and Europe. Dream Wedding Insurance liaises with the world’s biggest underwriters to offer extensive, competitive wedding insurance products to brides and grooms-to-be around the world. 

Having an understanding that a wedding is one of the most memorable days in a couple’s life… Dream insurance ensures that it remains memorable for the right reasons only. Visit Website.

Event Cover NZ

“EventCover is New Zealand’s ONLY underwriting agency exclusively focused on the events industry. Our list will need to be completed by citing them an affordable wedding insurance in New Zealand. Whether you are an event manager, professional conference organizer, or supplier to the events industry, EventCover is here for you.

Additionally, their policy underwrites event cancellation, event liability, non-appearance, and prize/promotional insurance.”

Thus, offering a genuine understanding of risks associated with the New Zealand events industry. Visit Website.

Read Also: Affordable Wedding Insurance in New York

Sage Partners Limited

Sage Partners Ltd was created by Geoff Manks in March 2010. Geoff is a guru in the world of insurance with over 25 years of experience in commercial insurance broking. During this period, he controlled NZ’s biggest entirely owned broking firm. 

He was also a shareholder and director of NZ’s second largest broker and invested 18 months helping a staunch South Island insurance broking firm. Geoff Manks felt there was unfinished business in the insurance world, a thought which birthed the inspiration to start Sage Partners. 

Sage Partners Limited never deals in the ordinary, they offer wholesale products and services to the industry. Lloyd’s Insurance also underwrites the company. A world-leading insurance and reinsurance marketplace.  Through the joint effort, intelligence, and risk-sharing expertise of the market’s underwriters and brokers, Lloyd’s helps to create a great world. Visit Website.

Chubb Insurance

Chubb is the world’s largest publicly owned property and casualty insurance company. The company operates in 54 countries and territories and provides event, commercial, personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance to a broad range of clients. As an underwriting firm, they evaluate, assume, and manage risk with insight and diligence. 

In the event of a claim, Chubb services and pay our claims fairly without delay. The company is also defined by its comprehensive product and service offerings, broad distribution capabilities, exceptional financial strength, and local operations globally. Visit Website.

AON 

Here is another reputable and affordable wedding insurance provider in New Zealand with over 30 years of industry experience.

AON perfectly understands that there is no “one size fits all” when it comes to insurance, as a result, their policy is well customized and fitted to your financial capacity.

Also, AON created solutions to meet the specific needs of all New Zealanders, coupled with dependable and effective claims service to assist you at all times.

It doesn’t end there, they also liaise with top insurers on your behalf to save you time, money, and the worry arising from analyzing and understanding complex insurance contracts. 

With the help of their dedicated and knowledgeable insurance brokers, clients get the advice and support they need most. Furthermore, the firm acts as your independent advocate to insurers, negotiating extensive and reliable cover. This implies they can consistently deliver credible insurance solutions that fit the needs of everyday New Zealanders. 

Lastly, their staff prides themselves on being in touch with your needs and being able to provide a broad range of insurance broking and financial services to a wide number of customers at a local, regional, and national level. Visit Website

Conclusion

There you have it!  Affordable wedding insurance in New Zealand. These firms were selected for their budget-friendly premium, excellent customer support, and their experience in the insurance world. However, before taking out any insurer, ensure you do your assignment by carefully studying their policies. Get a good grasp of what you are signing up for and what your expectations are, before making any financial commitment. This is because many insurance firms have a section comprising their exclusions. Being negligent of this fact might cause you extra expenses or unnecessary disappointment. Have a great wedding!

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