The average American wedding is reaching about $26,000, so 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. Only a small number of U.S. companies offer this insurance. It can cover losses from issues ranging from bankrupt wedding halls to cancellations forced by unexpected military deployments. Travelers say issues with vendors account for about a quarter of the claims, with most of those related to issues with photographers or videographers. 

For Travelers, an insurance giant with annual revenue of $26 billion, the policies will not make or break the bottom line. But the wedding insurance it began selling in 2007 is also a way to connect with a couple who might later think of the company for home insurance and other life milestones. “It could be the beginning of a relationship with a young couple,” said Ed Charlebois, a Travelers vice president for personal insurance.

Do you feel this is a good way to begin relationships with possible future clients? Why do you think more companies do not cover this type of insurance?