What is wedding insurance?

Usually, lots of money is involved in India. That is why the risk of losing the money is also high. There are chances of happening any unforeseen event during the wedding. This can result in a huge monetary loss to you and your family. Wedding insurance helps you to make up the losses.

Why you need it?

Life is uncertain. Wedding insurance covers you against uncertainties. If anything happens, cancellation can add up substantially to the wedding cost. With the right wedding insurance policy, you can postpone your wedding and receive every penny you lost.

Things to consider

Before you buy any wedding insurance, check with your each of your vendors. See how well they're covered. If your caterer or event planner have own insurance coverage, you wouldn't want to pay for overlapping coverage out of your own pocket. Check where you aren't fully covered.

When to take?

Most policies allow you to take out wedding cover up to two years before the wedding date. But if you are getting married in next year, it is not too late. You can get a cover for the reception and other expenses.

Cancellation and postponement

A wedding insurance covers cancellation or postponement of marriage due to accidents, fire at the venue and any natural calamity, etc. The policy covers cancellation or postponement. If the insured person does not show up at the wedding due to an accident, death or hospitalization, he is covered.

Who Are The Wedding Insurance Providers In India?

In India, wedding insurance is a relatively new concept. The following three companies provides wedding insurance covers.

Future Generali

Future Generali's Vivah Suraksha is a well-known wedding insurance policy to protect you from the unexpected. If you need to cancel your wedding due to an unexpected illness or extreme weather conditions, then they will help cover the costs to re-arrange the wedding among a host of other covers that are available.

HDFC Ergo
HDFC ERGO offers wedding insurance in India. The policy provides coverage on incidents such as cancellation or re-scheduling of the wedding due to unforeseen events like natural calamities, damage to the venue due to cyclones, floods or even fire, etc. Cancellation due to an accident involving the bride, groom or immediate family member, burglary or theft, etc. are also included.

ICICI Lombard
ICICI Lombard General Insurance Co. Ltd. provides covers against substantial risks. The company is offering cover for wedding cancellation, material damage to the property, personal accident cover for insured person and public liability, etc. Expenses on the printing of cards, advances given to venue, caterer, decorations, music, hotel room bookings/travel bookings, etc., are also covered.