Disasters can strike any day, even your wedding day. And nothing can be worse than having to cancel or postpone your wedding. When you’ve made arrangements for every big and small detail. Insurance can protect you against all the heartbreak. It will also afford you great peace of mind. Here is what we will be covering in the best wedding insurance blog.
- Which One?
- What Does it Cover?
Here are the answers to all your best wedding insurance questions.
What is Wedding Insurance?
Wedding insurance policies are designed to protect couples from losses that might occur due to unpredictable damages at your wedding. Wedding insurance experts help couples identify, evaluate, customize, and structure their wedding insurance plans. Hence ensuring that tying the knot is the only thing you have on your mind.
Why Do You Need the Best Wedding Insurance?
Wedding insurance policies secure certain risks related to the ceremonies and parties. Every wedding ceremony carries a certain amount of risk caused by fire, natural calamities, accidental injuries of family members, or theft. Due to the uncertainties of COVID-19, if you need to postpone the wedding. That’s when your troubles start because of the no-refund policies by most vendors like the caterers or the venue providers. Here is when an insurance plan saves your wedding and your wedding expenditure.
What Does Wedding Insurance Cover?
Irrecoverable expenses like pandits, wedding catering, function hall, beauticians, wedding decorators, accommodation reserved for bride/ bridegroom/ guests, wedding photography, etc. that you have incurred are all redeemable from the best wedding insurance. These are the claims that are accepted in events of cancellation or postponement.
- An extreme weather condition or a serious unexpected illness.
- Accidental damages to your residence.
- Coverage to bride and groom in case of disability & death due to accident.
- Protection against financial loss from a safe or strong room due to robbery.
- It provides coverage against accidental bodily injury to or death, disease, or illness of any person.
- Accidental loss of material property not belonging to you, as a result of food and beverages and decorations, supplied during the wedding.
What a Wedding Insurance Doesn’t Cover?
But there are a few situations under which a wedding insurance provider would not cover your expenses.
- Cancellation of the wedding due to any disputes among the relatives, bride, groom, or friends.
- Theft or loss from unattended vehicles or venues.
- Loss of Money where it is stored other than in a safe/locker or Strong Room.
- In case of local or national bandhs or any other civil unrest.
- And in extreme cases of terrorism or the kidnapping of the named person.
How Much Wedding Insurance Cost?
The price is customized as per the requirement. Also, the sum they choose to insure determines the price. The Insurance premium is usually calculated on the basis of location, venue, type of decoration, and the number of events. It usually is 1% of the total cost.
How Can You Insure Your Wedding?
The first step can be to contact a company for wedding insurance. In India, most insurance companies offer their plans for wedding insurance, some of them being ICICI Lombard, Bajaj Allianz and Oriental Insurance.
Who are The Best Wedding Insurance Providers in India?
a. ICICI Lombard
ICICI Lombard covers the cost of your wedding in case of fire, acts of God, earthquake, burglary & theft at a venue. If the bride or groom undergoes some injury or illness. The wedding insurance covers wedding invites and advances. So bridezilla/groomzilla you can go relax. Brides and grooms head to their website to get all the details!
Second, on the list of best wedding insurance, we have BankBazaar. It provides insurance on one of the most auspicious days of your life. They understand perfectly well uncertainties, natural or manmade. Bankbazaar.com even has a wedding insurance policy to cover the cost of jewelry.
c. Bajaj Finserv
Bajaj Finserv offers insurance even for your wedding trousseau. Now you don’t have to worry about the thousands or even lakhs of rupees you spent on those sarees, gowns and lehengas. Bajaj Finserv is among the best wedding insurance. It also covers things like theft of the lehenga or accidental damages.
Can Wedding Insurance Help Guests too?
You can have the guests can be insured too. Having them included in the liability policy can be the best option. If any attending guests face trouble, they can benefit from the policy.
What Documents Are Required to Get the Best Wedding Insurance?
Wedding insurances don’t really need too many documents. Few things needed while buying the policy except for the basic details of the wedding is the KYC document. In the event of a claim, the client must submit every invoice and supporting evidence.