In Sickness and in Health (Among Other Things) - Wedding Insurance May Be The Answer
PARSIPPANY, N.J. - Everyone has either seen it first-hand or heard about it. The perfect wedding has been planned and paid for or the honeymoon is underway when disaster strikes. The types of “disasters” vary, but it all gets down to the fact that the wedding or honeymoon is ruined.
More than 50,000 weddings take place each year in New Jersey, with the average cost now reaching $35,900 -- $8,900 above the national average.* Recognizing that the “big day” comes with a mighty financial commitment, Travelers of New Jersey announced today the launch of the Wedding Protector Plan, an insurance policy covering weddings.
Travelers began the national rollout of the Wedding Protector Plan on February 14 in honor of Valentine’s Day, one of the most popular days to get engaged. So far, the company has made this product available in 44 states.
“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.**
Committed to being in-synch with the needs of consumers, Travelers created www.AgentProtectMyWedding.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.
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