This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

(Graphic: Travelers)

Travelers recently analyzed its wedding insurance claims from 2011 and found that vendor and venue problems are the most frequent causes of wedding day mishaps for its customers. A total of 31 percent of all wedding claims by Travelers customers were the result of problems associated with vendors and venues, the analysis reveals.

By conducting this analysis, Travelers is helping 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 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.

Although 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, the cost is still a significant investment that should be protected.

“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.”

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs