TomorrowMakers ™

Ever heard of wedding insurance? Here's why it might be a good thing

11 January 2018
With a large amount of money they spend on weddings, Indians need to embrace the concept of a wedding insurance.

Indians have been known to spend an obscene amount of money to organise grand weddings. A Huffpost report says that an average Indian family spends more than its yearly income on a single wedding - much more than they can afford. We take loans, withdraw from our investments and sell off our properties to be able organise a grand wedding - a breathtaking venue, expensive jewellery and wedding outfits etc. Are you too planning to spend a huge amount of money on your wedding?

Whenever you spend a huge amount of money on say a car or property, you always make sure to insure it. Then why not insure your wedding too? Read on to know more about wedding insurance and how it can help you during a crisis:

How does a wedding insurance help you?

A wedding insurance helps you deal with financial losses arising in the following situations:

 

1. Wedding cancellation or postponement: A wedding might be cancelled or postponed in case of:

 

  • Fire, earthquake, burglary or theft at the venue
  • The named person fails to turn up for the wedding ceremony due to death, temporary or permanent injury, an illness that leads to hospitalisation etc.

Things covered: The expenses covered are printing of cards, advance payments given for the venue and caterer, decorations, music, hotel room bookings, travel bookings etc. Wedding insurance also covers material damage to property (including decoration costs, jewellery, precious stones, precious metals, appliances, etc.) in case of fire, theft, burglary and natural calamities like an earthquake (only some insurance providers have this benefit).

2. Personal Accident: You’ll be insured against accidental death and permanent or temporary disablement caused due to the accident.

People covered: Not only the named person but his/her blood relatives are also covered by this insurance.

3. Public liability: It insures you against accidents leading to injury or any damage to the property at the venue of the wedding.

People covered: It covers third parties.

Things that a wedding insurance doesn’t cover:

A wedding insurance does not cover:

  • Wedding cancellation due to civil war and terrorism
  • Kidnapping of the named person
  • Expenses, if the people are unable to reach venue due to unavailability of transport
  • Consequential losses due to cancellation of the wedding
  • Self-inflicted injury or suicide by the named person
  • Intentional damage to property by the insured
  • Cancellation due to dispute between wedding parties


A wedding is a very special event - not only for the bride and bridegroom but also for their families. A lot goes into making this event special – buying expensive clothes, jewellery, making arrangements for guests etc.

However, there are some things aren’t in your control and a wedding insurance protects you, your loved ones, and your belongings in the face of adversity. Hence, by giving a relatively small amount of money, you can get insured against accidents, disasters, and other unexpected events. The insurance helps cover the monetary losses and gives you time to deal with the problem at hand.

Some of the General Insurance companies who offer wedding insurance include like Bajaj Allianz, ICICI Lombard, Future Generali, HDFC Ergo, Tata AIG etc.

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