in changing times Lakhs of crores are being spent on weddings. Due to this the budget of weddings is increasing significantly. According to CAT, more than 35 lakh marriages will be solemnized in the country in the next few months which will bring business worth Rs 4.25 lakh crore. In such a situation, if someone in your family is going to get married or you yourself are preparing to get married, then wedding insurance can be a useful thing. Let us know why it is important to take wedding insurance. Also, if someone takes it, what benefits will he get?
Why is wedding insurance necessary?
Today’s weddings involve huge expenses. Wedding insurance is a useful thing to compensate for the loss due to any reason in weddings. It is a cover that protects us from monetary loss caused due to any disruption which involves cancellation or postponement of the function. Covers the possibility of damage to personal or public property caused by natural and man-made hazards.
Benefits of Wedding Insurance
Cancellation of marriage ceremony, damage to property or injury/death due to natural and man-made calamities is covered under this insurance. Some of the perils covered under the policy include unseasonal rain, storm, hailstorm, sandstorm, tsunami, storm and force majeure. In addition, loss or damage to the venue due to fire and related hazards, earthquake, flood, cyclone (resulting in cancellation of the event) rendering the venue unusable; Riots, curfew (as declared by the local police and/or concerned government authority), death or accident of the bride, groom and blood relatives (parents, brothers, sisters of the groom/groom) during the period in which the policy is in force. ; etc. are some other things which are covered under the policy. The policy is also customized as per the requirement of the customer.
Add-ons and Riders
Wedding insurance policies offer add-ons and riders. These additional coverages, such as attire and honeymoon coverage, can be extremely important in specific circumstances. Imagine a situation where a wedding gown is damaged or lost in transit, an attire coverage rider can save the day from going haywire.
Under what circumstances will you not get the benefit?
Within the scope of wedding insurance, not everything is covered. Sudden budget overruns and other personal decisions are generally not covered. Therefore, it is important to read the policy rules thoroughly and understand under what circumstances insurance companies can deny benefits.
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