Planning a wedding? Don't miss this essential insurance cover for big day

Protect your wedding from cancellations, vendor issues and unexpected costs

Families spend sleepless nights ensuring that wedding arrangements are fool proof. But,  quite often, most don’t consider a contingency plan. What if the event has to be postponed or called off due to an emergency? A sudden rain or a sudden medical emergency may derail the event, and cause a huge financial loss. This is when wedding insurance comes to the rescue. Rahul Mathur, chief executive officer of Roinet Insurance Broker Pvt Ltd, explains why wedding insurance is becoming essential and what it actually covers.

 

Why weddings remain financially risky

“Weddings in India have become a significant financial burden, often leading to debt and financial stress for families,” says Mathur. A major factor is the lack of awareness and adoption of wedding insurance products. Most families plan meticulously for décor, venues, and catering, yet remain unprotected against financial setbacks.

 

 

Rising threats: Climate, fraud and last-minute disruptions

Several factors are contributing to rising financial risks around weddings:

 

Climate-related risks:Extreme Weather Events: Over 75% of India’s districts are prone to floods, droughts, and heatwaves.

 

Unpredictable Rainfall: Erratic rainfall can disrupt events and even impact livelihoods indirectly, adding stress to planning.

 

Fraud and disruptions:

 

Vendor Failures: Last-minute cancellations or bankruptcies by vendors can cause unexpected financial losses. 

Venue Unavailability: Popular venues may become inaccessible due to unforeseen circumstances.

What wedding insurance covers

Wedding insurance goes far beyond protecting against cancellations.

 

According to Mathur, key coverage areas include cancellation or postponement, reimbursement of non-refundable deposits if the wedding is cancelled or delayed.

 

Vendor Failure: Compensation if vendors fail to deliver agreed services.

 

Venue Unavailability: Coverage for expenses if the chosen venue becomes unusable.

 

Weather-Related Issues: Protection against losses due to floods, hurricanes, or other natural disasters.

 

Illness or Injury: Covers medical emergencies affecting the bride, groom, or key family members.

 

Gifts and Attire: Insurance for damaged or lost gifts, outfits, and accessories.

 

Liability Coverage: Protection against third-party claims for bodily injury or property damage.