More than 3,000 weddings take place every day in the U.S., with the average cost now reaching $27,000 each. Recognizing that the “big day” comes with a mighty financial commitment, Travelers announced today the launch of the Wedding Protector Plan, an insurance policy covering weddings.
“A wedding is a large investment both emotionally and financially,” said Alan Tuvin, vice president of product management for Travelers. “There are a lot of moving parts to a wedding and things can go wrong. It is important to protect such a significant financial investment.”
The Wedding Protector Plan provides coverage, with no deductible, for a variety of unfortunate occurrences associated with a wedding event. For example, coverage is provided if a hurricane causes the necessary and unavoidable cancellation or postponement of the event. Other coverages include postponement for withdrawal of military leave, forfeited and lost deposits, extra expenses associated with special attire, transportation, photographs, and entertainment expenses.
“A lot goes into planning your wedding within your budget,” said Tuvin. “Travelers wants to ensure that your budget will not spiral out of control when the unexpected happens.”
The top wedding claims and problems typically include damage to wedding attire, mishaps with event photography, cancellation due to illness or bereavement, and no-shows by contracted vendors.
Travelers created www.ProtectMyWedding.com, which offers a Risk Quiz to help consumers determine how much risk surrounds their wedding, plus examples of coverages provided. Consumers can then use the online agent locator to find a nearby Travelers independent agent to discuss purchasing protection. As long as the wedding is more than 14 days away, it’s not too late. The Web site also offers an e-newsletter for newlyweds, which covers topics from lifestyle to money management tips, designed to help couples become in-synch with their lives as one.
The Wedding Protector Plan can cover events in the United States, Puerto Rico, Canada, the United Kingdom, Mexico, Bermuda, Bahamas, Turks and Caicos, the Caribbean Islands (excluding Cuba and Haiti) and cruise ships leaving from a port within those territories (some restrictions apply).
For more information on how to protect a wedding, contact a Travelers independent insurance agent or visit www.ProtectMyWedding.com.
Travelers is a business of The St. Paul Travelers Cos., Inc., a property casualty insurer selling primarily through independent agents and brokers.
Source: The St. Paul Travelers Cos.
Was this article valuable?
Here are more articles you may enjoy.