Wedding insurance on the rise as increasing costs accompany the - Boston News, Weather, Sports | FOX 25 | MyFoxBoston

Wedding insurance on the rise as increasing costs accompany the big day

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(MyFoxBoston.com) – The cost of weddings is on the rise, and with Boston being in the top 10 of the most expensive cities in the United States to get married, many brides and grooms are turning to a growing trend: wedding insurance.

The popular wedding website, The Knot, surveyed 20,000 brides in the U.S. who were married in 2012 and asked about their wedding budgets.

Brides who got married in New York City spent the most amount of money, a total of $46,703, compared to Boston brides who spent an average of $31,298, which does not include the honeymoon or the engagement ring.

Other top contenders were Long Island, N.Y., where it costs roughly $46,628 to get married, northern or central New Jersey where it costs $41,636, and Los Angeles, Calif., where it costs $30,724.

Considering how big of an investment weddings have become, couples are purchasing wedding insurance for a variety of things pertaining to their big day, including missing rings, a ruined bridal gown, the wedding venue going out of business before the event, ruined photos, and cancellation or postponement.

According to Travelers' 2012 wedding claim data, 58 percent of vendor claims are photo and video related. This number is alarming considering the average couple spends approximately $4,178 on these items alone, according to The Wedding Report.

Weddings have become valuable investments, much like cars and homes, and couples just don't want to risk the priceless memories they are hoping for on their big day.

For a complete list of the most and least expensive cities to get married in the U.S., visit The Knot.

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