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SOURCE: Shine United
The infographic showcases common problems as well as trends in the wedding industry — and how to insure the wedding of your dreams goes smoothly.
Waukesha, WI (PRWEB) January 21, 2013
Markel American, a specialty insurance provider, providing event cancellation and liability insurance for special events, has released a new infographic revealing the most common things that can go wrong at a wedding.
The infographic contains both proprietary research from past Markel wedding claims as well as facts and figures from TheKnot.com and WeddingChannel.com 2011 Real Weddings Survey. The infographic also reveals average costs related to wedding components. According to the Real Weddings Survey, the average cost of a wedding is more than $27,000, and Markel’s data shows that there are also plenty of things that go wrong on a typical wedding day that may add to those costs — if they aren’t protected by special event insurance.
Based on information from past Markel claims, the infographic shows the most common wedding day disasters, which may not be top of mind for those planning the big day. Sure, the bride and groom may be thinking about no-shows or making sure the flower girl makes it down the aisle — but property damage, a vendor issue or something damaging to the dress probably aren’t on their minds.
But perhaps it should be — as Markel reveals that 36 percent of all claims stem from property damage, which can cost the couple thousands in damages (above and beyond the average $12,000 cost of a reception).
Equally surprising was that when a claim was filed with Markel because of a vendor-related issue (flowers not delivered, wedding planner went out of business), the average insurance payout was more than $3,000. That may be more than the average bride and groom bargained for — so considering having it covered by wedding insurance might be the first thing on the to-do list.
“The findings from our research might be surprising to the average bride and groom, but we see things like this every day,” says Kerri Nguyen, director of marketing for Markel American. “Wedding insurance helps make sure that what’s important to you is covered in case of the ‘worst-case scenario’ — the dress, the cake, the reception hall or even the gifts — we’ve seen it all.”
About Markel American Insurance Company
Markel American Insurance Company (part of Markel Corporation) is a specialty insurance provider that offers specialized event cancellation and event liability coverages for events including (but not limited to) weddings, baptisms, birthdays, business meetings, and nonprofit functions. For more information, visit http://www.markeleventinsurance.com.
About Markel Corporation
Markel Corporation markets and underwrites specialty insurance products and programs to a variety of niche markets. In each of these markets, the company seeks to provide quality products and excellent customer service so that it can be a market leader. The financial goals of the company are to earn consistent underwriting profits and superior investment returns to build shareholder value. For more information on the Markel Group of companies, please visit http://www.markelcorp.com.
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