In India, the market for wedding insurance is relatively new, but we have started to offer this service to brides and grooms out there who would like to safe guard their wedding. We have tied up with Companies like Bajaj Allianz, ICICI Lombard, Oriental Insurance, and National Insurance currently to offer this service in India.
What Is Wedding Insurance?
This is basically an insurance plan that covers the definite risks that a wedding celebration may face in unforeseen circumstances. There is a number of things that wedding insurance includes. It not only covers the damages caused due to unpredictable circumstances, but may also help you save a dime, if for any reason things don’t go as planned.
What Does A Wedding Insurance Plan Cover?
Accidents, damage to wedding property, burglary, public liability, cancellation or postponement of the wedding due to sudden circumstances are some of the things covered by the insurance.
What Does It Not Cover?
What the wedding insurance doesn’t cover is cancellations due to the act of terrorism, civil unrest, damage of the property caused intentionally, self-injury, pollution, protests.
How Much Does A Wedding Insurance Cost?
Like any other insurance plans, there is no fixed amount that one needs to pay for the insurance. The product is tailor-made as per the customer’s requirements and spending limit. The size and location of the wedding, what’s being covered and the policy limits will affect the cost of your wedding insurance policy. Hence, there’s no maximum or minimum limit to the sum insured. Typically, it could cost 1 per cent of the overall cost of the sum assured. We can plan this according to what we need to get covered and its risk involved.
Should I Opt For A Wedding Insurance?
Opting for wedding insurance is a definitive way to put your mind at ease. Have a conversation with your partner, your planner, your family, etc. to let them know that you’re thinking about it so they can help you make an informed decision.
If your wedding is taking place in a particular venue and a lot of expenses are involved, you may want to cover it against damages. Many such situations arise in high scale weddings involving high profile guests, travel, jewelry and expensive clothing.