Getting Married? Good for you. We wish you all the best. However, if the best isn’t what turns out before your nuptials there is actually insurance for that. And why not, with the price of weddings in the United States going well over $20,000 may insurance companies are willing to sell a just in case type of policy that will cover illness, extreme weather, and even a change of mind.
Policies can be as affordable as $500 from Travelers to insure wedding that cost as much as $50,000. The insurance is offered by some, not all, US based companies. While the data is readily available we believe the number of people planning a wedding are including this on their to-do list is growing. Most of the claims come from issues with the vendors couples hire to produce things like their wedding video and photos. While wedding insurance isn’t something that will make or creak a company’s bottom line it is a great intro to companies who are going to buy a home, buy cars, and start a family together. That is where the money will be generated.
For parents looking out for their son or daughter’s best interest there is change of heart insurance available. However, because of fraud in the early days of the program, this type of coverage is only available if the bride or groom calls off the wedding more than 9 months prior to the wedding date. Once you hit the alter, it is too late.
Even though groups like the Bridal Association of America recommends wedding Insurance, it is only taken out by less than 1% of the more of the 2 millions weddings annually in the United States. To read more about Wedding Insurance in the Mercury News click here.