Travelers Reveals Most Common Wedding Mishaps

Rhea-AI Summary

The Travelers Companies, Inc. (NYSE: TRV) has released data highlighting the most common wedding insurance claims from 2021, with vendor-related issues accounting for 29% of claims. As many weddings are planned for 2022, understanding these common issues can help couples better prepare. Other claims included property damage (19%), illness or injury (18%), severe weather (6%), and military deployment (6%). The Travelers Wedding Protector Plan offers coverage for these incidents with no deductible, although COVID-19 losses are not covered.

Positive

• Travelers reported vendor-related issues as the top wedding insurance claim, indicating a potential market for wedding insurance amid rising wedding numbers.
• The Travelers Wedding Protector Plan provides coverage for common issues, enhancing customer confidence.

Negative

• COVID-19-related losses are not covered under the Travelers Wedding Protector Plan, limiting the appeal for some customers.

Company shares 2021 claim data to help couples better prepare for their big day

HARTFORD, Conn.--(BUSINESS WIRE)-- The Travelers Companies, Inc. (NYSE: TRV) today revealed the most common wedding insurance claims from 2021, with vendor-related issues topping the list at almost one-third (29%) of paid claims. This data comes as a record number of weddings are planned for 2022, according to The Wedding Report.

“Knowing the wedding day issues that come up most frequently can help families avoid costly disruptions,” said Todd Shasha, Senior Managing Director of Personal Insurance at Travelers. “It’s important for couples to do their research when planning for such a significant event, particularly when it comes to choosing locations, dates and vendors. Wedding insurance can also help protect against some of the most common mishaps.”

Beyond vendor issues, other common claims included:

• Property damage (19%).
• Illness or injury (18%).
• Severe weather (6%).
• Military deployment (6%).

The Travelers Wedding Protector Plan provides coverage, with no deductible, for these common issues and a variety of other unfortunate occurrences. Policies can also cover disruptions to events surrounding the wedding day, such as the rehearsal, the rehearsal dinner and a post-wedding brunch. COVID-19 is not a covered loss.

To learn more about wedding insurance from Travelers, visit Travelers.com/event-insurance.

About Travelers

The Travelers Companies, Inc. (NYSE: TRV) is a leading provider of property casualty insurance for auto, home and business. A component of the Dow Jones Industrial Average, Travelers has approximately 30,000 employees and generated revenues of approximately $35 billion in 2021. For more information, visit Travelers.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220509005621/en/

Media:

Chesleigh Fowler, 860-277-5102

cfowler3@travelers.com

Source: The Travelers Companies, Inc.

FAQ

What are the most common wedding insurance claims reported by Travelers in 2021?

The most common claims included vendor-related issues (29%), property damage (19%), illness or injury (18%), severe weather (6%), and military deployment (6%).

How does the Travelers Wedding Protector Plan help couples?

The Travelers Wedding Protector Plan provides coverage for common wedding-related issues without a deductible.

Are COVID-19 related losses covered by Travelers wedding insurance?

No, COVID-19 is not considered a covered loss under Travelers Wedding Protector Plan.

What percentage of wedding insurance claims are related to vendor issues?

Vendor-related issues accounted for 29% of all wedding insurance claims in 2021.

How can couples learn more about Travelers wedding insurance?

Couples can visit Travelers' website at travelers.com/event-insurance for more information on wedding insurance.