With all the money you and your significant other will be committing to your nuptials, the idea of wedding insurance is one that you may be pondering. After all, if something goes awry on your special day, you could be out thousands without an insurance policy, which is why many couples have made this a pivotal step in their wedding planning.
But when push comes to shove, what do couples actually file insurance claims for? Travelers Insurance recently released its list of top wedding insurance claims of 2014, and the results may convince you and your future spouse to invest in insurance. Let’s break down the numbers:
- The top claim among couples involved covering the cost of vendors who were hired to fulfill a specific role and didn’t deliver as promised. 44 percent of all wedding insurance claims in 2014 were made to reimburse couples for vendors who didn’t hold up their end of the bargain.
- 28 percent of claims related to property damage to the venue that hosted the wedding. All it takes is one rowdy relative or friend to set you back hundreds of dollars, so this should be a chief consideration when weighing the decision to purchase wedding insurance.
- 8 percent of claims resulted from injury or sickness befalling the bride, groom or major member of the bridal party which inevitably lead to the cancelation of the event. Illnesses and accidents can strike when you least expect them, so this is another big reason to take the plunge with wedding insurance.
- Last but not least, other issues such as military duty/deployment or issues with bridal/groomsman attire accounted for the final 6 percent of total wedding insurance claims.
Murphy’s Law applies to even unforgettable experiences like your wedding day, and wedding insurance is becoming increasingly popular for couples who will assuredly fork over thousands to commemorate the occasion. At the very least, insurance can give you the peace of mind in knowing that if anything goes wrong, you’ll have a solid backup plan!
