Indian wedding ceremonies are usually a grand spectacle. They are laden with expensive decorations, ornaments, luxurious mandaps, and other accessories. Not to mention the cost of catering, rent, travel, jewellery, and clothing that goes into them. The point is, weddings are costly affairs. And the occurrence of unexpected events like fire, burglary, or cancellations on the big day can be even costlier.
Therefore, wedding organizers go for a special bundle of policies known as Wedding (Event) Insurance. This kind of Insurance is ideal for high value ceremonies that cost crores of rupees to execute. Wedding Insurance comes with several other insurance policies built in such as Fire and Allied Perils Insurance, Burglary and Theft Insurance, Public Liability Insurance, etc. in order to provide a comprehensive coverage under one scheme.
Wedding Insurance is designed to cover heavy losses that may occur due to unforeseen events like the wedding being cancelled, a guest getting seriously hurt, property damage, and much more. Coverage under this policy can be divided into four sections :
Under this cover, cancellation or postponement of the wedding ceremony due to the occurrence of Fire and Allied Perils (including earthquake) or Burglary and Theft at the venue is covered.
Additionally, the sudden and unintimated failure of a named person(s) to appear at the insured wedding is also covered on account of their death, injury, or illness necessitating hospitalization
In the event of wedding cancellation, the following expenses are covered by this policy subject to the maximum Sum Insured :
- Advances paid to catering
- Advances paid to the wedding venue
- Advances paid to travel agencies
- Advances given for hotel room bookings
- Printing cost of wedding invitation cards
- Advances paid for music and decorations
- Cost of decoration and wedding set
In other words, all non-recoverable expenses can be covered.
This covers loss or damage to property due to Fire and Allied Perils including earthquake, and Burglary, Holdup or Theft.
In the event of any property damage, some insurers also cover the cost of decoration and gifts given by blood relatives and in-laws.
This extends coverage to a named person(s) including close relatives in the event of their accidental death and permanent disablement. However, this cover does not include intentional self-injury, suicide, or injury suffered under the influence of alcohol or drugs
Under this cover, third party liability due to any accidental bodily injury or property damage is covered. However, the accident resulting in such injury or damage has to occur at the wedding venue and in connection to the wedding, during the policy period.
Wedding Insurance does not cover events or losses that are part of the exclusions of the underlying policies like Fire and Allied Peril Insurance, Public Liability Insurance, etc. Some of these exclusions are :
- Any loss, injury or damage due to war, civil unrest, or related perils
- Any loss, injury or damage due to acts of terrorism
- Any loss, injury or damage caused by nuclear perils
- Kidnapping of the named person or their non-appearance due to flight delay
- Unexplained or mysterious disappearance or shortage of the property to be utilized for the wedding discovered upon taking of inventory
- Unexplained or sudden unavailability of the wedding venue
- Breakdown of the vehicle which prevents the bride/bridegroom from reaching the venue
- Any damage caused to a property caused by wear and tear, gradual deterioration, depreciation, mechanical or electrical breakdown
- Loss or damage to property stored outdoors without due attendance or supervision
- Loss, damage or destruction caused intentionally by the insured
- Public liability in account of pollution or contamination
- Deliberate, willful or intentional non-compliance of any statutory requirements
- Fines, penalties, punitive or exemplary damages
- Public liability occurring due to an Act of God, such as, an earthquake, flood, storm, or other atmospheric disturbances
- Loss of damage to the clothing and personal assets of the wedding guests
Weddings are not just expensive but also stressful. The last thing the bride, groom or their families want is to worry about the countless risks the ceremony might be exposed to. A Wedding Insurance policy can offer them an all-inclusive and tailor-made safety cushion, ensuring a smooth and hassle-free celebration.
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