Have you ever heard about Marriage Insurance? sounds weird but true. Insurance companies are now offering a new insurance product which provides cover against loss which which occurs due to cancellation or postponement of wedding for some reason.
Today most people spend lakhs or crores of rupees on weddings to make that one day memorable for life. But what if due to some unforeseen reason you need to either postpone or cancel the wedding? To protect customers from any such loss, some insurance companies have come up with an innovative insurance product where you can insure weddings against risks like accident, fire, Theft, or unintentional man-made disasters etc..
Companies Offering Wedding Insurance Product In India
- ICICI Lombard
- Bajaj Allianz
These insurance products are designed to covers losses due to cancellation/postponement of wedding for the reason of fire or any natural disaster, accident of bride/groom, accident of blood relations resulting within 7 days of the wedding date, damage to property including the venue, burglary and even cases of food poisoning at the function.
Although almost high net worth individuals go for wedding insurance due to high cost attached with their weddings, but insurance companies are trying to popularize these products. The expenses that would be covered include those for printing of cards and the advance payments for the venue, caterer, decorations, music, hotels and travel.