Top Reasons Happy Couples File Wedding Insurance Claims

April 3, 2012

Vendor and venue problems are the most frequent causes of wedding day mishaps that result in insurance claims.

Wedding insurance experts at Travelers Insurance recently analyzed the company’s wedding insurance claims from 2011 and found that a total of 31 percent of all wedding claims were the result of problems associated with vendors and venues.

The most common vendor- and venue-related problems include the facility or vendor going out of business, flowers and photos not being delivered and DJs not showing up.

Sickness, injury and mishaps accounted for 19 percent of the wedding insurance claims and catastrophic weather-related problems accounted for 10 percent.

Vandalism and theft represented 13 percent of claims, a new category revealed in the 2011 analysis.

Other problems, such as military duty/deployment, unavoidable cancellation of weddings and issues with attire accounted for an additional 17 percent of the claims.

Travelers is hoping to help couples understand common wedding day problems so that they may take steps to minimize the typical risks that could ruin their special day.

“Given that the leading causes of wedding claims continue to be a result of vendor and venue issues, couples should seriously consider the financial risks associated with planning a wedding and protect their investment and budget accordingly,” said Chantal Cyr, vice president for Travelers Wedding Insurance.

The amount that couples spent on weddings in the U.S. decreased from $26,542 to $25,631 in 2011, according to The Wedding Report, a research company tracking the wedding industry.

But it’s still a significant investment. The average price tag of a wedding decreased last year by 3.4 percent, yet couples actually spent nearly 21 percent more on the reception location, said Shane McMurray, CEO and founder of The Wedding Report.

“Wedding insurance has become even more essential for any family looking to protect itself against vendor and venue mishaps – close to home or far away – from lost deposits to missing flowers,” said McMurray.

The Wedding Protector Plan from Travelers includes coverage for rehearsal events that take place within 48 hours of the wedding for as little as $160. It also covers items such as lost deposits, perishable materials, unavoidable cancellation due to weather or military leave, lost or damaged photographs, damaged gifts, host liability and more.

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