Getting married in the near future? You might want to apprise yourself of a four-year study of the top reasons for wedding insurance claims.
The Travelers Cos. Inc. in its recent analysis of wedding insurance claims from 2011–2015 identified that problems with vendors led to 30 percent of claim payments for all wedding claims. Wedding venues going bankrupt, photographers failing to deliver the photos as promised and DJs not showing up for the reception were among the vendor-related issues.
Other top causes of claims included illness or injury of the bride, groom or immediate family member, disruptive weather and military deployment.
Travelers’ analysis of wedding insurance claims also shows that:
- Of the vendor-related claim payments, almost 64 percent involved venue problems where the wedding and/or reception was to be hosted. Those facilities typically closed unexpectedly or could no longer accommodate the wedding as promised.
- Illness and injury resulting in cancellation accounted for 29 percent of the total payments for wedding claims.
- Weather claim payments have steadily decreased since peaking in 2012, when significant storms affected popular wedding dates and locations throughout the United States.
