India Markets open in 7 hrs 53 mins

Here Is Why You Should go For Wedding Insurance

Adhil Shetty


The ‘big, fat, Indian wedding’ is known the world over to be a fiesta of sorts, packed with hundreds, if not thousands of people, partaking in merriment over the course of a few days. So, it’s understandable that it costs a pretty penny too. Many parents pour their life savings into their children’s wedding. So, it only makes sense that you insure the investment that you’re making in a wedding celebration.

What Is Wedding Insurance?

Just like you would buy insurance for your pet, your home, car or other assets, you can buy insurance for your wedding too. Since you’re spending a significant amount, in exchange for a small sum, you can protect your wedding from untoward instances.

What Does Wedding Insurance Cover?

Primarily, wedding insurance protects you from five outcomes.

Cancelling/Re-scheduling The Wedding: In case you have to cancel or postpone the wedding due a calamity such as an earthquake or fire at the venue or even theft or burglary, wedding insurance will cover your monetary loss. It will also do so in case the bride, groom or immediate family member has met with a serious accident, is hospitalised, or has passed away.

Loss/Damage To Property: If the wedding venue is damaged due to a natural calamity, theft or burglary.

Loss/Damage To Other Property And Personal Effects: Wedding insurance also protects you in scenarios where your appliances, precious metals, jewellery and other such items are damaged. The extent of this is defined by the insurance policy.

Personal Accident Cover: Most wedding insurance policies provide accidental death cover for those mentioned in the policy as well as their blood relatives. In addition, those whose names are in the policy are also protected from permanent total or partial disability.

Third Party Cover: This covers your legal liability in the event that a third party individual or property has been injured/damaged owing to your wedding. For instance, if a third party has contracted food poisoning and attributes this to the wedding, the public liability clause of certain insurance policies covers this.

For each of these outcomes there is a fixed amount that you can claim. Just like all insurance policies, there will be a deductible here as well. So look into this before you commit to an insurance policy.

How Much Does Wedding Insurance Cost?

Premiums for wedding insurance depend on a number of things. The scale of the wedding and venue, the type of the venue, and the duration of the wedding have a bearing on the wedding insurance premium. Typically, insurers judge the coverage needed on a case to case basis and decide premiums accordingly.

What’s Not Included Under Wedding Insurance?

Seasonal rains, damage due to terrorism/riots, cancellation of weddings owing to a family dispute, person(s) not being able to reach the venue owing to transportation issues, kidnapping or self-harm aren’t covered by wedding insurance. For a closer look at what’s included and what’s not, check the policy wording carefully.

When it comes to a wedding in the family, be it your own, your sibling’s or your children’s, you don’t want an untoward incident to ruin the fun and your finances. Play it smart and buy wedding insurance well in advance.

The writer is CEO, BankBazaar.

 BankBazaarInsurance.com, India’s premier online marketplace to compare and apply for the best personal finance products including health insurance, car insurance, life insurance and two wheeler insurance.