Wedding Insurance Question

KetteringLad

Hi all - hope someone can help!
Our wedding venue has just gone into administration.  They've verbally told me "The company has no cash in the bank so we won't be able to refund your deposit (about £6k) but the company has a lot of assets so hopefully you'll be able to get your money back when the firm responsible for the administration has sold them."
Now, we have taken out wedding insurance which hopefully means we are covered for this.
My question is, are the wedding insurance company going to be able to refuse to payout until the administrator has given everyone their 'x' pennies in the pound and then payout the difference, or will the insurance company pay out and then them themselves chase the administrators to recoup anything they can?
I ask here because already the insurance company is dragging it's heals and looking at reviews on TrustPilot, they aren't very good at paying out claims!

NB - no, we didn't pay be credit or debit card, the booking was done online via bank transfer.  Also, we need the money ASAP as we are re-booking for the same date (this year) and need to pay a new venue!

Any help or advice would be really appreciated, just so when the inevitable showdown with the insurer comes, hopefully I'm pre-armed with the information I need to get my money back!

Thanks in advance,
KL

sheramber

Now, we have taken out wedding insurance which hopefully means we are covered for this.
The first thing you need to do is read your insurance policy to establish if you are covered and then  does it say anything about paying out.

KetteringLad

It says we're covered in the event the wedding can't go ahead due to financial collapse.  But I don't know if that means they will pay out now or wait until the administration has completed in (maybe) a years time.  They still haven't replied to me.