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Wedding Insurance Chattanooga Tennessee

With the number of commercial bankruptcies on the rise, some brides and grooms are getting burned by bankrupt vendors. Because of the weak economy, couples might want to consider wedding insurance.

The number of businesses filing for bankruptcy was up 47 percent in February over the previous year. While more well-known company filings like Ritz Camera make the headlines, many smaller, independent businesses are also struggling in the current economy. And the BBB has had complaints filed about bridal boutiques and venues that suddenly closed up shop leaving engaged couples in a bind. According to Travelers Insurance, more than 40 percent of all Travelers' wedding insurance claims filed during the past two years involved unforeseen problems with vendors and venues, some of which went bankrupt.

Aside from the gown, wedding insurance can provide a variety of coverage for many mishaps that might affect a wedding including vendor no-shows, foul weather, military deployment, and health issues affecting key participants.

Here is advice about Wedding Insurance:

  • Always research insurance companies first with BBB by reviewing BBB Reliability Reports free of charge online at the Better Business Bureau website.
  • Shop for wedding insurance before paying deposits on any wedding services to make sure all expenses are covered.
  • Comparison shop and pay close attention to the fine print. According to the Insurance Information Institute, insurance will cost between $125 to $400 depending on the amount of coverage. Like any insurance plan, there are limits on claims and deductibles that must be met.
  • Avoid purchasing overlapping coverage. Some vendors might already be insured or coverage might be provided by the credit card company.
  • Keep good records and all receipts for the insurance company in order to justify any reimbursements.
 
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