Special things related to this …
Coverage from 24 hours before the start of the ceremony
Some insurance companies insure the wedding ceremony under the event insurance portfolio, while some have a separate policy for it. Its coverage begins 24 hours before the music, Mehndi-like ritual begins. So one can buy this policy even one day before the wedding. However, our opinion would be that the policy should be taken 15 days before the commencement of the ceremony. This policy can be taken by the organizer, groom, bride or their family members conducting the function.
What will be covered in wedding insurance
Nowadays, it is the era of destination wedding, which is quite expensive. Wedding insurance includes such things as personal accident, event cancellation or disruption, any damage to the venue of the ceremony. However, like other insurance policies, there is also a provision that if the insurer has concealed the circumstances that may be at risk of loss, then the benefit of insurance will not be available.
How much to insure
Like other insurance policies, it is necessary to disclose all the facts in wedding insurance. Who will attend the wedding, how many people will come, a copy of the invitation card, whether the wedding is indoor or outdoor, the time of the wedding, it is necessary to tell all this. If the place of marriage changes, then it will also have to be informed. The insurance company will also have to tell how much has been spent on the decoration, stage, jewelery etc. of the wedding venue. According to all this, the sum assured will be fixed. The insurance company can give you several options. You can choose one of them according to your budget and requirement.
How much can i claim
The sum assured of wedding insurance depends on how much you have insured. Note that you can claim the claim even if the wedding date is changed. By the way, the premium is only 0.7% to 2% of your insured amount. For example, if you have got a wedding insurance of Rs 10 lakh, then you have to pay a premium of Rs 7,500 to 15,000.
What will be the process of taking the claim
If there is a chance of claiming a loss, inform the insurance company about the loss as soon as possible. Depending on the nature of the loss, you may also have to make a police complaint. In such a situation, the insurance company will have to give a copy of the FIR. Apart from giving information to the company, you will have to submit the claim form. It has to fill the details of loss. Necessary papers will also have to be given to tell how much was lost. The insurance company will then assess it.
Note: Whenever you take this type of insurance, take special care that what is not covered in it and also compare policies of different companies.