Your florist isn't going to show up on your wedding day. At least, that's one of the more likely problems you might face. The Travelers Cos. recently analyzed claims from its wedding insurance policies and identified the top trouble spots. The No. 1 offender was problems with vendors and venues. More than 30 percent of wedding insurance claims were filed because of calamities such as wedding venues going out of business, DJs and photographers who failed to show up, or flowers that never arrived, says Chantal Cyr, vice president of Travelers Wedding Insurance. The second-largest claims category (19 percent) was sickness, injury and mishaps involving members of the bridal party. Another 10 percent of the claims were related to weather catastrophes, including blizzards, hurricanes and tornadoes. Claims also were filed because of things such as stolen or damaged gifts, grooms and brides who were called to active military duty, and wedding attire that was lost or did not fit properly.
Economy causing disasters
Chamein Canton, a wedding planner in Long Island, N.Y., for more than 15 years, has heard of plenty of venue and vendor issues. In this economy, she says, it's not uncommon for reception halls or vendors to go out of business before your wedding day, despite their having signed contracts and accepted deposits. "I've also seen where the facility will tell you they can accommodate your number of guests because they don't want to lose your business," she says. "They say they can handle 250 people and you find yourself in a broom closet. Your wedding goes from this experience you always dreamed about to a nightmare where everyone is on top of everyone else." Destination weddings are probably the most vulnerable to disasters, Canton says. Plan a wedding in the Caribbean during hurricane season and you never know what might befall you and your guests.
Wedding insurance a worthy investment
What can you do to prevent rain on your wedding parade? Cyr believes wedding insurance is worth the small investment. Expect to pay between $150 and $500, depending on how much coverage you want.