Wedding Insurance: as essential as the sand at your beach wedding?

The words wedding and insurance are about as romantically matched as chocolate truffles and vinegar. However, since weddings can cost a small fortune, insuring the big day is one thing a bride might want to think about just in case. Especially in the case of a destination wedding, where a wedding dress on its way to San Diego could end up lost in the airport in Dallas or your maid of honor might wind up delayed in Chicago, wedding insurance— costing as little at $160— ought to be on the budget next to favors and photographer.
According to a 2009 analysis of wedding insurance claims by Traveler Insurance Co., vendor and venue bankruptcies and service issues remain the most frequent causes of wedding day mishaps for couples. Now for the scary numbers and nitty gritty.  The insurer, which provides wedding coverage, found that a total of 62 percent of all wedding insurance claims from 2009 were the result of vendor and venue problems, a 19 percent increase in this category in comparison to a similar study Travelers released last year. Claims data showed mishaps with banquet facilities, caterers, photographers and flower shops left some newlyweds without important wedding day details. The most common vendor and venue related problems include the facility or vendor going out of business (Hello economy!), flowers and photos not being delivered, DJs not showing up and caterers not delivering what was promised. And, to all your destination wedding planners, 8 percent of claims in 2009 had to do with a key person not being present at the wedding due to circumstances like travel delays.
Travelers, which released its study just in time for Valentine’s Day (and the tidal wave of proposals!), offers a no-deductible Wedding Protector Plan, is helping a growing number of couples protect their budget for as little as $160 by covering items like lost deposits, unavoidable cancellation due to weather or military leave, lost or damaged photographs, gift breakage, host liability concerns and more. A simple four-question quiz on protectmywedding.com can help brides-and-grooms-to-be understand the coverage and limits they need to protect their wedding budget. To learn more about wedding insurance, including the costs and buying online or through an independent agent, visit protectmywedding.