Indian weddings are usually a grand affair and becoming grander by every passing year. People usually spend a large portion of their hard-earned money on such weddings, which last for three-four days, sometimes even more. While the ceremonies bring together friends and family, a wedding ceremony also means considerable expenditure. On the flip side, one cannot rule out uncertainties during this time as an unexpected mishap can throw the whole affair out of gear and can put the family in an uncomfortable financial position. To protect you from that, there are wedding insurance products in the market, which falls under the awareness of very few people.
Comprehensive wedding insurance covers almost everything that could go wrong during a wedding including damage or loss due to fire, theft, explosion, burglary and even natural disasters like earthquakes, floods and storms.
The sum insured under the policy covers costs of cards printed, advance paid to the caterer and wedding hall, advance paid for decorations, hotel reservations and travel tickets.
Wedding insurance can be availed in the form of specific plans, which exclusively cover weddings, or as an event insurance plan, that can cover any such event. The premium can vary depending on various factors like total sum insured, wedding venue, guest list, number of days of the event, and add-ons like extra cover for jewellery and other precious articles. While some insurers offer insurance for jewellery as an add-on, others have inbuilt cover for jewellery or valuables.
The insurance product also provides a personal accident cover which means the person named in the policy, including blood relation, would be covered against accidental death, permanent total disability and permanent partial disability. The public liability cover ensures protection against injury or death arising out of accidents at the wedding venue. It also covers third party property damage.
In marriage events where there are plenty of risks, it makes sense to cover it by means of a Wedding Insurance Policy.