Top Reasons for Wedding Claims

Here comes the bride -- and with her, a bouquet of potential problems.

Wedding insurance typically is purchased to guard against these outside forces wreaking havoc on a happy couple's nuptials. With wedding season just around the corner, it's apt that Travelers recently opened up the loss history on its wedding insurance claims and noted a few not-so-blissful trends.

According to Travelers, more than 40 percent of its wedding insurance claims filed during the past two years involved unforeseen problems with vendors and venues, some of which went bankrupt in the worsening economy. Most often, these problems stemmed from caterers, photographers, wedding planners, and other vendors. In some cases, vendors failed to show up on day of the wedding, went out of business suddenly, or experienced some other financial setback.

Travelers also said that 22 percent of its claims were the result of a key family members (parent or grandparent) not being able to attend at the last minute for reasons such as sickness, untimely death, and travel delays. Nineteen percent resulted from broken, torn, or lost items such as dresses or rings. Lastly, the insurer said that 15 percent of wedding insurance claims stemmed from weather events such as hurricanes and tropical storms as well as water-damaged property.

"What this indicates is that some wedding vendors and venues are facing many of the same financial challenges as other businesses," said Alan Tuvin, vice president of product management for Travelers. "The reality is that no one entity is immune to the issues with today's economy."

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