Wedding insurance premiums have tripled since the pandemic began, and half a dozen companies have yet to return to the market.
The average policy was priced at £55 in the six months to March 2020, according to comparison site CompareWeddingInsurance.org.uk.
However, most insurers closed their doors to new customers as Covid-19 caused cancellations across the country.
The average wedding insurance policy was priced at £55 in the six months to March 2020, it has now risen to £152
Since then very few have returned to the market and premiums have skyrocketed, with the average policy now costing £152.
Policyholders can usually claim wedding insurance if vendors fail to deliver or if the big day is canceled due to illness.
In the past, firms like John Lewis, Emerald Life and Insurance Emporium dominated the market. However, none of these companies are currently selling policies.
Steve Wardlaw, chairman of Emerald Life, says insurers are still “very burnt out by Covid” and extremely cautious
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