Wedding insurance premiums have trebled since the pandemic began — with half a dozen firms yet to return to the market.
The average policy was priced at £55 in the six months before March 2020, according to comparison site CompareWeddingInsurance.org.uk.
However, most insurers shut their doors to new customers when Covid-19 caused cancellations across the country.
The average wedding insurance policy was priced at £55 in the six months before March 2020, it has now risen to £152
Since then, very few have returned to the market and premiums have spiralled, with the average policy now costing £152.
Policyholders can usually claim on wedding insurance if suppliers fail to deliver or if the big day is cancelled due to illness.
In the past, firms including John Lewis, Emerald Life and Insurance Emporium dominated the market. However, none of these companies is currently selling policies.
Steve Wardlaw, chair of Emerald Life, says insurers are still feeling ‘very burnt from Covid’ and are ultra-cautious
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