Why say 'I do' to wedding insurance
Last August when the bride-to-be, now 25, booked a sprawling plantation on the Wye River for her reception, plans for the fairy tale wedding of her childhood dreams started to crystallize. She selected a caterer, florist and DJ for the September wedding, and her father, Stephen Williams , shelled out nearly $10,000 for the facility.
But by early December, the reception hall had filed for bankruptcy and gone up for public auction — without any warning to the Williams family.
COLUMN: Getting married? Don't fall for these money myths STORY: Nine major money mistakes that can derail your marriageSuch a pre-wedding disaster is not unusual, wedding insurance providers say. During the last several years, many wedding insurance policyholders have filed claims because venues and vendors have gone out of business before the big day.
"The claims are shooting up through the walls — the DJ goes out of business, the photographer goes out of business, the venue takes your money and is actually in bankruptcy," says Robert Nuccio, president and CEO of R.V. Nuccio & Associates, the program administrator for Fireman's Fund wedding insurance. "When they take your money, they're already out of business."
Last year, about a third of wedding insurance claims with both Travelers Insurance (31%) and WedSafe, a unit of Aon, (38%) fell under vendor or venue mishaps.
While the recession is largely to blame for these suppliers going under, it has also prompted wedding financiers to approach their nuptials with financial caution, says Chantal Cyr, vice president of personal insurance for Travelers.
"People are more in tune than ever to protect their investments," Cyr says. "It's a significant investment — it's like buying a car and not insuring a car."
WedSafe has seen a 60% jump in policy sales since 2007, says Aon Vice President Steven Lauro, and Travelers has also seen steady increases in wedding insurance sales during the same period.
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"It's a significant investment — it's like buying a car and not insuring a car." WedSafe has seen a 60% jump in policy sales since 2007, says Aon Vice President Steven Lauro, and Travelers has also seen steady increases in wedding insurance sales
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In the early morning hours of August 16, 2009, the victim was driving a U-Haul from Warren, Pennsylvania, to her new home in Charleston, West Virginia. As she came upon the thirty-three mile marker on Interstate 79, she noticed that a car was wrecked
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Top 10 Virginia Car Insurance Companies
Most Virginia drivers agree that although they are not required by law to carry car insurance, it is a very good idea to insure your vehicle with one of the top 10 Virginia car insurance companies . When you are purchasing car insurance, the general state requirement is “25/50/20” coverage pertaining to accidents in which you as a driver are at fault. You can get FREE car insurance quotes with our ZIP code search!
After paying the Uninsured Motor Vehicle charge, any resident driver can travel freely on roads and highways throughout the state. Compare quotes to make sure you’re covered with our FREE quote comparison tool! An uninsured driver is liable for any injuries or damages he or she causes to other drivers, passengers, pedestrians, and property while driving a vehicle.
This translates to:
$25,000 in physical injury protection for the fatal injury or immediate death of another individual caused by an accident $50,000 physical injury insurance for everyone affected in an accident $20,000 reimbursement for damages caused to property during an accident The Top-10 Rated Car Insurance Companies in VirginiaCar insurance rates for Virginia drivers can vary according to the driver’s zip code and county of residence. These rates can actually differ by up to 25% when comparing rates in various regions of the state.
Keeping this information in mind, the following insurers are the ten leading Virginia car insurance companies:
1. GeicoThe most popular insurance company in the US, Geico insures nationwide, offering numerous car insurance discounts of 15% and above as well as highly competitive rates. Vehicle insurance policies are comprehensive and versatile in Virginia, continuing to offer drivers the latest coverage updates and initiatives.
Rates are reasonable and varied. Safe driving bonuses and deductible rewards are impressive.
2. AllStateWith AllState car insurance, you receive comprehensive coverage at very reasonable prices. This company provides Virginia drivers with both accident forgiveness consideration and a healthy safe driving bonus perk.