Claims data offers insights into potential pitfalls to avoid

HARTFORD, Conn.--(BUSINESS WIRE)--Aug. 28, 2024-- The Travelers Companies, Inc. (NYSE: TRV) is offering tips for brides and grooms as peak wedding season approaches. According to Travelers data, vendor issues (45%) were the leading cause of paid wedding insurance claims in 2023, followed by property damage (18%), illness and injury (14%) and severe weather (12%).

“Knowing what has gone wrong for others can help couples as they prepare for their big day,” said Todd Shasha, AVP of Personal Insurance at Travelers. “With vendor-related issues consistently topping the list, it’s important to thoroughly evaluate your options before making a choice.”

Travelers offers the following tips for couples planning their big day:

• Research vendors before making any deposits. Seek out reviews or referrals from multiple sources and conduct thorough online research before finalizing any financial commitments.
• Plan for seasonal and regional weather risks. From hurricanes to blizzards, weather disruptions can impact travel arrangements and venue accessibility. Create contingency plans to mitigate potential setbacks caused by Mother Nature.
• Consider wedding insurance to provide peace of mind. Venue closures, sudden illnesses, lost or damaged wedding attire – unforeseen circumstances can lead to lost deposits and unanticipated expenses. Wedding insurance can help serve as a valuable safety net and provide protection for your big day.

“With an active hurricane season forecast, it’s especially important to remember that wedding insurance can help protect your big day if you purchase it in advance of any named storm or weather event,” Shasha added. “Securing a policy early can help ensure that any weather-related disruptions do not result in financial losses or unmanageable stress as your wedding day approaches.”

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 more than 30,000 employees and generated revenues of approximately $41 billion in 2023. For more information, visit Travelers.com.

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Media:
Luke Frey, 860-954-3678
lcfrey@travelers.com

Source: The Travelers Companies, Inc.