When we speak about weddings, we all imagine a Big Fat Indian Wedding. Every bride has big dreams for her wedding. Similarly, every groom’s mother wants to fulfill all her wishes at his son’s wedding. But what if something happens during an event of the wedding? What if you are forced to postpone the wedding? Will you get the money back for the advances paid for the wedding events? Fortunately, you don’t need to get stressed as Wedding Insurance comes to the rescue.
Wedding Insurance financially protects you from the uncertain events that might occur during the functions of the wedding. Apart from certain exclusions, it covers a range of uncertain events and indemnifies the insured at the happening of such events.
Coverages of Wedding Insurance
- Cancellation or postponement of Marriage: If a marriage cancels due to a sudden and unexpected event (any calamity or a covered event), then the insurance company will compensate the insured for the following expenses:
- Marriage hall bookings
- Catering services
- Cost of decorations and wedding sets
- Hotel room bookings (accommodation for guests, bride, and groom)
- Payments made to travel agencies
- Printing cost of invitation cards.
- Property Damage: The insurance company will compensate the insured for damages caused due to fire, theft, burglary, or any covered peril. The company will compensate for material damages like decoration costs, jewellery, appliances, precious metals, and others as written in the policy document.
- Personal Accident: The person who has taken the policy and the ones who are in blood relation and has been named in the policy are protected against permanent partial disability (PPD), temporary total disability (TTD), permanent total disability (PTD), and accidental death.
- Liability Coverage: If a third party gets injured during the wedding event, then the insurer will compensate for the damages.
Exclusions of Wedding Insurance
- Deliberate attempt to cancel the wedding
- Act of terrorism
- Civil unrest/ strike
- The kidnapping of the bride or groom
- The guest’s clothes or personal assets got lost or damaged during the event of the wedding.
- Flight delay or vehicle breakdown that prevented the bride/groom to reach the wedding venue.
- Property damage due to negligence
- Wedding venue damaged due to wear and tear with time, electrical or mechanical breakdown.
Benefits of Insuring Your Wedding
- You can customize the wedding policy according to your needs. You may opt for insurance for the main wedding function only or you may opt for an insurance package that covers all the ceremonies of the wedding.
- The premium of wedding insurance is quite economical. Usually, the premium ranges from 0.7% to 2% of the insured amount.
- You can enjoy the wedding functions without any stress as you will be financially secured by the policy for the mis happenings during the wedding.
Can I insure a marriage?
No, you cannot insure a marriage. However, you can insure your wedding. A marriage is a life-long relationship between two people whereas a wedding is a collective name for the ceremonies and rituals for getting married. Insurance companies do not provide insurance for marriage but they can insure a wedding.
If the bride/groom decides not to get married after arriving at the venue, will the other party get claim money?
No, the insurance company will not compensate the insured if the bride or groom rejects to get married after arriving at the venue.
What is the period of the wedding insurance policy?
Usually, the wedding insurance policy ranges from six to seven days. The policy will end on the next day of the marriage.
If you are getting married and want to enjoy your wedding stress-free, then go ahead and buy wedding insurance.
If you have any grievances related to insurance, you can contact Insurance Samadhan. We have helped resolve 14,500+ complaints of policyholders. We’ll be happy to help you.