Travelers Identifies Most Common Causes of Wedding Insurance Claims
HARTFORD, Conn.--(BUSINESS WIRE)--Many couples will be basking in the glow of getting engaged this Valentine’s Day, and Travelers wants to help protect them from potential wedding day problems. The company today released its most common causes for wedding insurance claims. Issues related to venues, photographers, florists, and caterers were the top reasons for filing claims.
“No one likes to think of potential problems on what is supposed to be one of the best days of your life,” said Ed Charlebois, Vice President of Personal Insurance at Travelers. “However, with the average U.S. wedding costing nearly $30,000, couples need to consider how to mitigate the financial risks of planning a wedding.”An analysis of Travelers’ wedding insurance claims from 2014 found that:
“However, with the average U.S. wedding costing nearly $30,000, couples need to consider how to mitigate the financial risks of planning a wedding.”
- Forty-four percent of claims involved vendors that were hired for the wedding and didn’t deliver as promised.
- Twenty-eight percent involved property damage to the venue that was related to the wedding.
- Eight percent of claims resulted from sickness and injury befalling the bride, groom, or key member of the bridal party leading to cancelation or postponement.
- Other issues, such as military duty/deployment and problems with bridal party attire, each accounted for six percent of claims, respectively.