(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.