Say ‘I Do' To Insurance

Opt for a wedding insurance to ensure smooth celebrations of such events

- Yagnesh Kansara and Nirmala Konjengbam

From Sabyasachi sarees to Frida Kahlo inspired makeup to missing names from the guest list, the high-profile DeepVeer (Deeepika Padukone and Ranveer Singh) November wedding was one of the most talked about event on social media. However, amidst all the glitz and grapevine, we conveniently missed out on the kind of awareness the couple showed by insuring the event with an all-risk covered policy. The insurance cover purchased by Singh from Oriental Insurance Company (OIC), one of the non-life companies promoted by the Government of India, however, was not a full-fledged wedding insurance policy but covered all the jewellery that they wore.

In India, weddings are an elaborate affair. Most of them last for three or four days and often turn out to be a week-long affair embodied with rituals, ceremonies and celebrations. And in such cases, the chances of any untoward incident cannot be completely ruled out. Wedding insurance ensures that the celebrations are carried out smoothly. However, very few know about such a policy and fewer bother to avail it. Tushar Joshi, Chief Life Insurance Advisor, explained, “There is no awareness about wedding insurance in India. Only a handful of event companies come forward to be insured for weddings or events.”

A comprehensive policy includes loss or damage to the insured property due to fire, theft, explosion, aircraft damage, earthquake, water damage, burglary, hold-up, robbery in transit, flood, storm and typhoon. It also gives cover against riot, strike and malicious damage. Sanjay Datta, Chief, Underwriting, Reinsurance and Claim Actuarial, ICICI Lombard General Insurance, pointed out the benefits of wedding insurance, “A wedding can be insured through an insurance that primarily covers cancellation of event, damage to property, personal accident and legal liability of the insured due to third-party bodily injury and property damage arising out of insured premises operation.”