A look at wedding insurance coverage as offered by insurers, and its exclusions

Wedding Insurance

Indian weddings are rarely a low-key affair. There is a lot of money at stake, and any delay, cancellation or postponement can result in the loss of a lot of money. Where there is a risk, there is a control mechanism. Introducing marriage insurance, an insurance cover that takes care of the risks that surround a wedding. Almost every leading insurance company in India is now offering wedding insurance as a product. Let us understand it in detail.

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Why Choose Marriage Insurance

The main benefit of wedding insurance is that it protects the policyholder against the cancellation of the wedding event due to any natural or manmade causes. It also protects them from damages to property and injuries and deaths that are relatable to the wedding event. It also provides public liability that covers accidental injury or damage during the event and within the policy period. Even damages to the temporary structures built, jewellery and other belongings are covered. Injury cover includes compensation against disability and death of pre-declared individuals.

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Indian Wedding Insurance Companies  

Here are some of the best wedding insurance companies in India, and a look at what wedding insurance does cover.

  1. ICICI Lombard – Its wedding insurance covers fire, earthquake and other natural perils, burglary and theft at the venue, sudden failure of the named person to appear at the event, as well as death, personal injury and illness of the named persons. Sum assured includes card printing expenses, advances to the venue, caterer, decorator, musicians, hotel and travel bookings.
  2. Future Generali – Its Vivah Suraksha policy covers wedding costs in the event of cancellation. These costs include booking of venue, caterer, decorator, pandits, beautician, florist, photographer, disc jockey etc. and accommodation costs. It also covers damages to property at the residence, wedding venue, decorations and structures. Coverage of loss of valuables includes jewellery, precious stones and appliances received as gifts, as well as burglaries. The bride and the groom are compensated for accidents, all kinds of disabilities and death.
  3. Bajaj Finserv – Bajaj Finserv has wedding dress insurance that offers protection of Rs 50,000 for a premium of only Rs 349. Coverages include fire and special perils, and damages arising out of it. It also covers accidental damages to the wedding dress and its theft from the residence. 

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Things Typically Excluded

Cancellation of the marriage due to civil unrest and acts of terrorism are generally not covered by these insurance plans. Kidnap of the covered or his or her absence due to unavailability of transport is not admissible. Death or injury due to war or warlike situations, self-inflicted injuries and suicide are also not covered.

If you have grand plans for destination weddings or a lavish party, now you can protect your finances with suitable marriage insurance.