Wedding day insurance can help you avoid disasters

7:41 AM, May 21, 2012   |    comments
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By Dana Dean

St. Louis (KSDK) -- Surveys show the average wedding costs about $25,000, but despite all the planning, not everything always goes off without a hitch. 

There is a way many couples are getting their money back, if something goes terribly wrong on their big day.

Did you know there's such thing as wedding day insurance? Travelers Insurance and WedSafe are both companies that have sold more wedding insurance in recent years.

WedSafe says it's a growing trend in the U.S. and more brides and grooms are becoming aware of it. Depending on the company, basic coverage can cost anywhere between $75 and $200. That amount generally covers up to $7500 worth of mishaps.

Though it's unpredictable when you'll need wedding insurance, this is what could go wrong on the big day.

According to Travelers Insurance, 4-percent of wedding day insurance claims are filed because weddings are unavoidably canceled. Military deployment makes up 5-percent of claims and 8-percent of them are filed because of issues with attire. For example, if a wedding gown is lost or damaged.

Then there are those odd problems that fit in the "other" category.

Chantal Cyr, of Travelers Insurance, said, "It includes mishaps with the gifts perhaps, during the wedding the gifts were stolen, maybe something happened with centerpieces for the wedding. We had a situation where we had a sword that was used during the wedding and the sword disappeared during the event itself. "

Ten-percent of claims are filed because of catastrophic weather-related problems. Vandalism and theft make up 13-percent of insurance claims. Nineteen-percent are caused by sickness and injury.

What's missing from this list? You may have guessed that vendor and venue-related problems take the cake with 31-percent of wedding day insurance claims. That could include flowers not being delivered or the facility going out of business.

Cyr said, "We had a situation where a couple had put down a deposit on a venue in the country in Maryland. And a couple of months after a deposit was put down on a place, it went out of business. The wedding insurance was able to respond. They were able to recover their $9,000 deposit, which enabled them to continue on with their wedding plans and find a new location."

WedSafe recommends getting wedding insurance as soon as you start writing deposit checks because you never know if and when a venue or vendor could go out of business.


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