January 23, 2014 1 Comment
So you and your partner have decided to tie the knot with a cozy little ceremony attended by your closest family and friends. Before you can even figure out the date, the guest list balloons to 400. Ouch! Looks like someone will be footing a heck of a bill. According to costofwedding.com the average cost for the big day (not including the honeymoon) is $25,656.
So what happens if the wedding is canceled or if the precisely planned event must be indoors due to a tropical storm? According to an Insurance Journal report more couples are saying “I do” to wedding insurance. But what exactly does it cover? According to the report:
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.
If wedding insurance sells, why not divorce insurance? Something that would cover a divorce attorney, relocation expenses and maybe a few counseling sessions. It seems like a logical market given that divorce can cost as much or more than a wedding.