For the sixth consecutive year, issues with vendors and reception venues remain the most frequent cause of wedding day mishaps for couples, according to an analysis of 2013 wedding insurance claims by Travelers (NYSE: TRV). Thirty-six percent of all wedding claims filed by Travelers customers were the result of problems associated with vendors and venues.
“With reports that the average cost of a wedding often exceeds $25,000, wedding day expenses can present a significant financial commitment,” said Ed Charlebois, Vice President of Personal Insurance at Travelers. “Couples should consider ways to protect their investment, so they can celebrate their big day without worrying about potential unforeseen costs from mishaps, poor weather or cancellations.”
The most common vendor and venue issues involved videographers and limo providers not showing up, caterers going out of business and event facilities closing. Nineteen percent of wedding claims were attributed to damages to a variety of property including artwork and landscaping at the venue. Injury and sickness of the couple or one of their parents made up 16 percent of the claims, while weather-related issues accounted for 23 percent of the losses filed.
The Wedding Protector Plan, presented by Travelers, can help couples avoid the added costs of unexpected wedding glitches. It also covers the expense of retaking photos in the event that the photographer did not show up or the photos are not delivered. Items such as lost deposits, perishable materials, unavoidable cancellation due to weather or military leave and damaged gifts are also protected. To learn more about wedding insurance, visit www.protectmywedding.com.About Travelers The Travelers Companies, Inc. (NYSE: TRV) is a leading provider of property casualty insurance for auto, home and business. A component of the Dow Jones Industrial Average, Travelers has approximately 30,000 employees and generated revenues of approximately $26 billion in 2013. For more information, visit www.travelers.com.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV