What will it cost to insure Will and Kate's royal wedding?

By Staff Writer

Kate Middleton has done pretty well for herself, marrying a prince and all.

Royalty needs insurance and for a wedding that will cost an estimated five billion Pounds (yes, Pounds, if The Telegraph is to be believed anyway), can you imagine what they’re spending on insurance?

Luckily, you don’t have to imagine. We here at Justmoney.co.za have crunched some numbers and put together a cost estimate for the Royal Wedding Insurance costs*.

Car/royal coach insurance – £25,000,000

Remember when Prince Charles and his wife Camilla were attacked in that Rolls Royce Phantom VI? Well, Will and Kate will be using the same one. The newly-wed couple will also be driving off in the same 1902 State Landau that Charles and Diane used in 1981 when they tied the knot.
 
Hopefully they opted to go for something that offers a no-claims bonus. 

Remember, there’s also a glass carriage and a whole convoy of cars to insure, but we’re leaving it up to you to estimate just how much this will cost.

Terrorist attack insurance – £100,000,000

The British police, CCTV and all the other security roped in for this event does lower the insurance cost, but that doesn’t mean the British Royal don’t need to be prepared, especially with the national obsession and all the civilians who’ll be gathered to catch a glimpse of the newly married couple.

Pet insurance for the Queen’s Corgis – £30,000

Pembroke Welsh Corgis aren’t really cheap. Pure bred and registered, they cost about R2500 to R3000. Royal Corgis, as you can imagine, will cost a whole lot more.  Of course the little furry friends are invited to the wedding, they’ve been owned by the Royals for years and they’re pretty much part of the family.  There’s six of ‘em and with the hustle and bustle of a Royal wedding, they need some proper insurance, just in case they get caught in the middle of an impromptu dance off.

Dress insurance – £5,000,000

Imagine Kate does a runner or a Corgi gets its paws on it, not even to mention open flames.  Obviously the dress will be expensive and its value will increase even more after the wedding. It’s up to Kate  decide whether she wants to extend the policy or sell the dress on eBay and leave it up to somebody else to insure.

Jewellery insurance – £15,000,000

No rapper’s bling can compete with the jewels of the royal family. Tiaras, necklaces, rings and everything else you can dream of. These jewels are pretty much priceless, but the royal jewels still need protection from damage, loss and theft.

Kidnap insurance – £100,000,000

It’s probably a long shot and it would take some serious planning to pull off a royal kidnapping, but all bases have to be covered. Just imagine the ransom demands? We bet Kate and Will would rather not spend their honeymoon tied up in a barn somewhere.

Holiday insurance for the honeymoon – £1,000,000

Whether they’ll be frolicking on the beaches of Bali or gallivanting around the Isles of Scilly, travel insurance is vital. Not just  in case a mutant shark finds its way to the private beach where the pair will be staying, but also to help in the case of lost luggage or any sort of any foreign and unsavory illnesses befalling them.

Just like the common man on the street, royals need travel and holiday insurance, theirs is just on a much, much larger scale.

Wedding cancellation cover – £100,000,000

Last, but not least, is cover in case the whole shebang doesn’t even happen. A massive scandal involving either Kate or William, a natural disaster, a bomb threat or Kate deciding this whole royalty thing is not for her are all real threats.   Should any of these concerns materialize, the royal family will need to  make up for their losses. Food, drinks, flowers and everything else will all go to waste.

Total cost of insuring the wedding: £356, 030, 000

We don’t even want to go into how much that will be in Rands, but  we hope they compared insurance quotes before making a decision…

*These cost estimates should be taken with a pinch ofsalt. There is no way we could ever estimate exactly what the Royals are spending on their insurance. While these figures were mentioned on the Business Pundit website, they are still estimates.

However,  it’s always a good idea for you to check your premiums and make sure you know what you are paying for. Get a comparative insurance quote to see if you could save on your insurance.

Recent Articles

Featured Register your customary marriage or lose the right to inherit estate

December is that time of the year when we will see at least one suitor sending his uncles to negotiate the price of his future wife. Lobola, as the bride price is known, has always been an important element of the African marriage.

Read more

Changing from one medical scheme to another - effortlessly

It is coming up to the end of the year and you might be looking to change medical schemes, or options within a scheme in preparation for the new year. While you don’t necessarily have to wait for year-end to do so, providers often recommend it.

Read more

Your guide to financially surviving Christmas

There are a few times each year where you need to dig deeper into your pocket and spend more money such as birthdays, anniversaries, and the Christmas period. Whether you celebrate this religious holiday or not, the festive period - depending on how you choose to spend it - means increased travelling, buying of gifts, entertaining, and eating out at restaurants.


Read more

Trump, Trump and a little bit of South Africa

What a November we had, with the rand staging one of its best months and closing below the R14.00 level. To be honest, this looked like quite a far-fetched possibility at one stage during the month. It seems that the tide has changed a little, even though it might be short lived since the US dollar bulls are not so sure of their case anymore.

Read more

Sign Up

To our weekly newsletter for advice you can bank on

Deals

Free iCollege Scholarship

Price: R600
When: Until 16 May 2019
Where: Nationwide

Telkom December Big Deal

Price: R459 pm
When: Until 31 December
Where: Nationwide

Money Savvy Kids Giveaway

Price: R450
When: 8 December
Where: Johannesburg (Milpark)