Advice to get a wedding insurance
Some good advice from the Better Business Bureau about wedding insurance.
With the number of commercial bankruptcies on the rise some brides and grooms are always burned by bankrupt vendors. Because of the weak economy, couples might want wedding insurance and Better Business Bureau offers advice on purchasing coverage for the big day to look at.
The number of companies filing for bankruptcy was up 47 percent in February compared to last year. While making more well-known companies such as Ritz Camera, the documents submitted headlines, many smaller, independent businesses are struggling in the current economy. And BBB has certainly had complaints about bridal boutiques and venues that suddenly closed shop leaving filed engaged couples in a bind. According to Travelers Insurance, claims more than 40 percent of all Travelers' wedding insurance filed during the last two years involved unforeseen problems with vendors and venues, some of which went bankrupt in the worsening economy.
"Considering that the average wedding costs more than $ 28,000, soon-to-be newlyweds a significant amount of money on the line and a vendor" Going Out of Business "sign can be far worse than rain on the day their wedding, "said Steve Cox, BBB spokesperson. "Wedding insurance can rest for a couple that their money will be returned if a seller or location may be falling through at the last minute."
To illustrate the seriousness of the situation, last summer received the BBB serving Charlotte a flood of complaints from desperate women on a local bridal shop, La Bella Sposa, which recently filed bankruptcy after deceiving many of its customers. Following complaints filed by women, took their money in the business, made the dresses, but do not pay the designers, so the dresses never arrived. LaBella Sposa was allegedly orders for new dresses, but passed out of the soil samples as original dresses. An abandoned bride paid the shop more than 10,000 dollars on a gown and 13 bridesmaid dresses, but the business closed its doors to take away their money two weeks before their wedding. Another bride was devastated to learn four days before her wedding that, while it was still thought of her dress last changes, the bridal shop allegedly sold the dress to another bride.
Aside from the gown, wedding insurance can be a variety of insurance protection for many breakdowns that affect a wedding party and no-shows, foul weather, military deployment and health problems, the key participants could. Most insurance companies do not cover cold feet, however.
BBB offers the following advice on purchasing wedding insurance:
€ Always research insurance companies first with BBB by reviewing free BBB Reliability Reports online
€ Shop for wedding insurance before paying deposits on any wedding services to ensure that all costs are covered.
€ Comparison shop and pay close attention to the fine print. According to the Insurance Information Institute, the insurance is between $ 125 to $ 400 depending on the level of cost recovery. As with any insurance, there are limits on claims and deductibles that must be met.
€ Do not buy overlapping coverage. Some providers may be insured or coverage might already be provided by the credit card companies.
€ Keep good records and all receipts for the insurance to justify any reimbursements.
With the number of commercial bankruptcies on the rise some brides and grooms are always burned by bankrupt vendors. Because of the weak economy, couples might want wedding insurance and Better Business Bureau offers advice on purchasing coverage for the big day to look at.
The number of companies filing for bankruptcy was up 47 percent in February compared to last year. While making more well-known companies such as Ritz Camera, the documents submitted headlines, many smaller, independent businesses are struggling in the current economy. And BBB has certainly had complaints about bridal boutiques and venues that suddenly closed shop leaving filed engaged couples in a bind. According to Travelers Insurance, claims more than 40 percent of all Travelers' wedding insurance filed during the last two years involved unforeseen problems with vendors and venues, some of which went bankrupt in the worsening economy.
"Considering that the average wedding costs more than $ 28,000, soon-to-be newlyweds a significant amount of money on the line and a vendor" Going Out of Business "sign can be far worse than rain on the day their wedding, "said Steve Cox, BBB spokesperson. "Wedding insurance can rest for a couple that their money will be returned if a seller or location may be falling through at the last minute."
To illustrate the seriousness of the situation, last summer received the BBB serving Charlotte a flood of complaints from desperate women on a local bridal shop, La Bella Sposa, which recently filed bankruptcy after deceiving many of its customers. Following complaints filed by women, took their money in the business, made the dresses, but do not pay the designers, so the dresses never arrived. LaBella Sposa was allegedly orders for new dresses, but passed out of the soil samples as original dresses. An abandoned bride paid the shop more than 10,000 dollars on a gown and 13 bridesmaid dresses, but the business closed its doors to take away their money two weeks before their wedding. Another bride was devastated to learn four days before her wedding that, while it was still thought of her dress last changes, the bridal shop allegedly sold the dress to another bride.
Aside from the gown, wedding insurance can be a variety of insurance protection for many breakdowns that affect a wedding party and no-shows, foul weather, military deployment and health problems, the key participants could. Most insurance companies do not cover cold feet, however.
BBB offers the following advice on purchasing wedding insurance:
€ Always research insurance companies first with BBB by reviewing free BBB Reliability Reports online
€ Shop for wedding insurance before paying deposits on any wedding services to ensure that all costs are covered.
€ Comparison shop and pay close attention to the fine print. According to the Insurance Information Institute, the insurance is between $ 125 to $ 400 depending on the level of cost recovery. As with any insurance, there are limits on claims and deductibles that must be met.
€ Do not buy overlapping coverage. Some providers may be insured or coverage might already be provided by the credit card companies.
€ Keep good records and all receipts for the insurance to justify any reimbursements.