IE 11 is not supported. For an optimal experience visit our site on another browser.

Here Comes the Bill: More Couples Buying Wedding Insurance

With the cost of the average American wedding about $26,000, insurers have been selling more policies to protect against losses.
/ Source: Associated Press

Worried about the groom getting cold feet? There's an insurance policy for that.

With the cost of the average American wedding reaching about $26,000, insurers have been selling a growing number of policies to protect against losses from extreme weather, illness and, in one firm's case, even a sudden change of heart.

Cheryl Winter spent $500 for Hartford-based Travelers Cos. Inc. to cover her daughter's $50,000 destination wedding last October in New Orleans, where her biggest concern was a potential hurricane. The weather cooperated, but the limousine never showed up. Her daughter took a taxi cab to the church, and they used the insurance policy to claim the deposit money they couldn't get back from the limo driver.

The insurance is offered by a small number of U.S. companies. Insurers declined to provide data on the number of customers beyond saying they are growing steadily. It can cover losses from issues ranging from bankrupt wedding halls to cancellations forced by unexpected military deployments. Travelers says issues with vendors account for about a quarter of the claims, with most of those related to issues with photographers or videographers.

Wedsafe, backed by Aon, also offers wedding insurance, which differs little from the specialty insurance that firms may offer for other kinds of events and celebrations.

For parents concerned about a relationship souring before the exchange of vows, Fireman's Fund Insurance Co. offers change of heart insurance. It's been available since 2007, but applies only if the bride or groom calls off the wedding more than nine months beforehand.

— The Associated Press

Image: Shannon and Justin Peach riding in a carriage after their wedding in New Orleans
This Oct. 12, 2013, photo provided by Julia Bailey shows Shannon and Justin Peach riding in a carriage after their wedding in New Orleans. Shannon's mom, Cheryl Winter, spent $500 for Hartford-based Travelers Insurance to cover her daughter’s destination wedding.Julia Bailey / AP