What does wedding insurance cover, how much is the premium, who offers it

For an expensive event like a wedding, it may be wise to secure the risks by taking out an insurance policy.

Q. What does it cover?

Cancellation or postponement: It will cover the amount of your reservation and deposits made to decoration companies, food vendors, hotels, travel agencies, entertainers, among others, if the wedding is canceled, postponed or rescheduled.

Damage to Property/Valuables:
It covers damage due to fire, explosion, earthquake, etc., to the residence, wedding venues or decorations and accessories, as well as the loss of valuables following theft or burglary. .

Personal accident: This covers the accidental partial or total disability or death of certain members.

Public liability: It covers any prejudice or damage caused to third parties following accidents occurring during the marriage.

Q. What does it not cover?

Any unnatural cause of injury, loss and injury or death caused by congenital disease, war, terrorism, kidnapping, suicide or pollution are among the standard exclusions of a marriage policy.

Q. How much does the premium cost?

The premium will depend on the size and type of cover chosen and will generally be 0.2-0.4% of the sum insured. For example, a Future Generali policy of Rs.40 lakh will cost Rs.10,000-15,000 in premium for the duration of the marriage.

Q. How long does the insurance last?

Wedding cover lasts for the duration of the wedding, usually seven days, usually ending the day after the wedding.

Q. Which companies offer wedding insurance?

Few insurers offer wedding insurance in India. Among those who do, there is Future Generali,

Bajaj Allianz, Oriental Insurance and National Insurance Company.

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