Wedding Insurance: If you get marriage insurance done and the marriage is canceled due to some reason, then you will not suffer financial loss. Good insurance can be taken for very less money. The premium charged varies from only 0.7 percent to 2 percent of your sum assured.
Wedding Insurance: The first invitation on the wedding card is given to Vighnaharta Shri Ganesh ji. It is believed that this does not hinder the marriage program. But last year, many wedding programs had to be canceled because of the corona epidemic.
If the circumstances of this time are seen, then January and February will be the peak season of weddings and the Omicron variant of Corona can disturb the color. Meaning marriages may have to be canceled again.
No one wants the marriage program to be canceled or changed in his place. But, even if such a situation arises, you should ensure that there is no loss of money. This is possible only if you get your program insured. Yes, marriage insurance or marriage insurance means wedding insurance.
how much is the premium
The sum assured of wedding insurance is decided on how much you have insured. By the way, the premium charged only from 0.7 percent to 2 percent of your sum assured. If you have got a wedding insurance of Rs 10 lakh, then you have to pay a premium of Rs 7,500 to 15,000.
Which companies offer marriage insurance
Although many companies do wedding insurance, but wedding insurance of two big companies ICICI Lombard General Insurance Co. Ltd. and Future Generali can be easily searched and bought online.
The name of Future Generali’s insurance is Marriage Suraksha. You can watch it directly by visiting its website. Apart from these two, Bajaj Allianz’s Event Cancellation Insurance Policy also has a provision for this.
What does Wedding Insurance cover?
A wedding insurance covers huge expenses incurred due to annulment of marriage or any other damage or loss. The insurance policy broadly covers various situations in four categories-
1. Liabilities Coverage: This section covers any damage or loss caused to third parties during the event of marriage due to accidents or injury.
2. Cancellation Coverage: This part covers the loss due to sudden or unexplained cancellation of the marriage.
3. Damage to Property: It protects against loss or damage to property.
4. Personal Accident: This includes the cost of hospitalization of the bride/groom due to accidents.
Wedding insurance provides coverage in case of loss due to the annulment of marriage to fire or theft. When a wedding is cancelled, it includes the following expenses:
1. Advance paid for catering
2. Advance paid for Wedding Venue
3. Advance given to travel agencies
4. Hotel room Advance paid for booking
5. Cost of printing wedding invitation card
6. Advance given for music and decoration
7. Cost of decoration and wedding set
If any untoward incident happens in the marriage program then you should immediately inform the insurance company about it.
After this there is a small checking from the insurance company and if you have suffered a loss due to the right reason, then you are compensated for the loss caused by the company. But there are some reasons for which wedding insurance does not work.
