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Surprised to hear about wedding insurance, don't be? A majority of the people may find it an alien topic. It is one of those insurance policies that is less known and I am sure many will agree to that.
Marriages are made in heaven, isn't it? The very thought of it makes us all so excited and energized. Lot of things club our minds and we are lost in the world of our own imagination. Both the bride and the groom are filled with excitement, thinking and planning a variety of things, taking care of every minute detail to make their wedding a memorable one. It includes making the best choice of bridal attire, choosing the exotic dishes, selecting the perfect ambience, so on and so forth. There is simply no end to the exhaustive and lengthy list. Every girl dreams of getting married some or the other day. She visualizes and fancies the big day and awaits the most in her life. Weddings in India are taken quite seriously where the planning for a girl's marriage begins at the time of her birth itself. It is one of those days that is most looked forward to. The parents start saving their money much in advance in order to meet the heavy expenses. They make it a point that nothing goes wrong and they are in a position where they can financially support every bit of expense. Some wedding ceremonies even extend for several days on end. In a country like ours where so much importance is attached to marriages, why don't we think of insuring the wedding event? It is a subject that hardly occurs to us. A larger component of the population is not even aware that wedding insurance actually exists!
It is our tendency to assume that everything is going to be smooth and fine but what if something awry had to happen at that time? Are you prepared for this unexpected event? Does that make you feel jumpy? Well, sure, it does. Now if for some reason the wedding gets postponed or cancelled, what would happen to the stupendous amount spent? There seems to be no answer to this.
The awareness ratio when compared to western countries seems to be considerably appalling. The concept of wedding insurance lacks awareness in our country but it has partially taken off - the initiative taken by Bajaj Allianz. However globally the concept is widely accepted. In fact in western countries it is considered almost mandatory to opt for wedding insurance. In actual fact insurance for the wedding ring, wedding dress or even non-appearance of the photographer is considered obvious.
In India, Bajaj Allianz offers a special wedding insurance plan. The minimum cover that it offers is Rs 2 lakh for a premium payment of Rs 3770. If the cover is of Rs 8 lakh then the premium that needs to be paid is Rs 14, 276.
Under the policy the expenses made towards a wedding that got postponed, cancelled or stopped can be covered. This includes the main ceremony, reception and the 'mehendi' ritual too. Other expenses include advance payments for the venue, caterer, decoration, DJ and wedding cards.
Among other insurance companies, New India Assurance also offers wedding insurance but it is covered under event insurance.
The cover starts from about a week before the wedding and expires after the ceremony is over. But the theft and burglary cover extends till next day in order to protect the money and gifts received.
The policy does not take the responsibility of the following: if the wedding has been called off due to family squabbles or the marriage has been deliberately shattered or if any damage is caused under the influence of alcohol or drugs.
So the next time if you know anyone who is getting married, don't forget to pop in the topic of wedding insurance. You will definitely be contributing to make more and more people aware of this unheard concept.
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