Wedding insurance / protection 26 October 2020 at 2:35PM in Weddings & anniversaries 3 replies 135 views

llmjdd

Hi All
Ive never posted before so I’m hoping for your kindness so someone in need of help but lacking in the ways of forum-etiquette.

I have recently got engaged and we are planning for the latter half of 2022 due to the covid postponements. 

We’ve hit the block that naturally no insurance companies are taking on new clients at present, but we need to pay our deposit immediately to secure the date. There is a waiting list behind us for our date and we have already postponed by 2months so we have no extra time to buy from the venue, who are also under said financial pressure. 

It’s worth noting at this point that similar venues have advised us they would require the same from us, and a lot of venues are fast booking up for 2022 in our area of the world (we are limited geographically to where we can marry due to elderly family members for travelling) so we are against the clock here. 

My credit card company advise we are only protected against venue going bust etc (not looking likely, but without insurance I obviously need to consider alternative financial protection) if we make the claim within 4months of the purchase - obviously this is incredibly unlikely to ever be possible in this scenario. 

I’m spending the day investigating other cards but all look similar - does anyone have any advice or ideas? 

Many thanks 

ceh209

The mention of 4 months makes me think they're referring to a chargeback, as opposed to a S75 claim, where the statute of limitations is 6 years (in England anyway). And I'd also raise the question (but I don't know the answer) of whether the time starts from now OR from when the wedding is supposed to be OR when the supplier goes bust.

S75 has an upper limit of £30,000 but I would *hope* that you wouldn't be paying more than that to the venue anyway? (in total, not just the deposit)

llmjdd

ceh209 said:

The mention of 4 months makes me think they're referring to a chargeback, as opposed to a S75 claim, where the statute of limitations is 6 years (in England anyway). And I'd also raise the question (but I don't know the answer) of whether the time starts from now OR from when the wedding is supposed to be OR when the supplier goes bust.

S75 has an upper limit of £30,000 but I would *hope* that you wouldn't be paying more than that to the venue anyway? (in total, not just the deposit)

No the venue is absolutely not 30k haha.

I think you're right. After some more investigation I am still unclear if we are covered by s75 as we have also been told that because the wedding is 2y away, we may have trouble getting the money back - is this right?

Any info on s75 is hugely appreciated, what a minefield.

Climber_34

My fiancee and I were in exactly the same situation as you. We decided to book the venue (venue booked in July 2020 for a Q4 2022 wedding) as it was perfect and they were filling up fast.

We havent got insurance yet because of Covid but having looked into it, we've found most decent policies should cover all deposits paid prior to the policy start date so in theory should be fine. 

To copy CEH209, S75 (set out in law) claims essentially have a 6 year claim limit (statute of limitations). Chargeback is an alternative to S75 where the rules are set by Visa, Mastercard and Amex and have a 120 day claim limit. Chargeback isn't as useful as S75, but can work with debit cards, where as S75 is credit only.