Wedding Insurance Now marriage also gets insurance. In this insurance you can cover any accident on your wedding day. This insurance has been started to secure the wedding day. After the boom in the wedding market, now this insurance has also seen an increase. Let us know in detail in the article.
In India, marriage is celebrated as a festival. People make every possible effort to make this day special. To make the wedding spectacular, many people hire a wedding planner. Wedding planners make all the arrangements for the wedding. They make arrangements from the wedding function to top level food, expensive gifts etc.
Recently, the Confederation of All India Traders has presented surprising figures regarding weddings. According to these figures, this year weddings have generated a business of about Rs 4.25 lakh crore. Financial experts believe that weddings are not just a ceremony but they also represent a huge and important investment with an emerging industry. The global wedding services market reached $160.5 billion in the year 2020. In such a situation, by the year 2030, this market can reach $414.2 billion. These estimates clearly show that weddings have now become a big business.
What is wedding insurance?
There are many types of insurance available in the market today. One of these insurance is wedding insurance. You can secure your wedding with this insurance. Many people get wedding insurance to protect themselves from unexpected uncertainties in a wedding. For example, if an accident occurs during the wedding ceremony or a vendor disappears from the scene, this insurance is very useful.
The premium of wedding insurance depends on the size of the function and the service. If more wedding services are covered then the premium will also be higher.
Gaurav Arora further added that potential buyers should ask questions clarifying the extent of coverage and the process for filing a claim. It is also important to tailor the policy to the specifics of one’s wedding plans. Whether it is an exotic destination wedding or a classic ceremony, the policy should reflect their unique vision.
You will not get benefit in these situations
Not everything is covered under wedding insurance. Sudden change of mind about the wedding, high budget and any other personal decision are excluded. In such a situation, it is important to read the rules thoroughly before insurance and understand under which circumstances insurance companies can refuse to provide benefits.
The value of wedding insurance is all about protecting that special day that marks the beginning of a lifetime together.
