Going for a wedding insurance cover makes sense!

Kolkata: Ever thought that there could be an coverage screen against the loss of the wedding ceremony ceremony ring, the luxuriant wedding gown not reaching on time, or even the non-appearance of the photographer to cover the gala affair event?

Well, such as things have got been a common pattern in the western world.

But in Republic Of India the conception is not very popular yet. Except for a few nationalised companies and a clasp of private players, not many insurance companies supply such as a cover.

"Such programs are still in their nascent phases owed to low consciousness and, given the sacred nature of the ritual, cipher desires to discourse the negatives," Deoxythymidine Monophosphate A Ramalingam, head, underwriting, Bajaj Allianz General Insurance, told deoxyribonucleic acid Money.

In the West, wedding ceremony coverage programs are popular because of increased coverage awareness. In India, wedding ceremony ceremony coverage is more than of a customised event coverage program which includes all specific hazards related to a wedding.

Wedding contrivers experience that in position of the heavy disbursals involved in North American Indian weddings, going for a screen do sense.

Wedding coverage typically covers fire or allied hazards like accidents to the bride, bridegroom or their blood relatives, burglary of jewellery, clothing or valuables, wedding ceremony cancellation owed to legitimate and specified causes, harm to the locale by natural causes or Acts of crime/terror, and, in certain cases, even nutrient poisoning.

Bajaj Allianz have a wedding ceremony bundle merchandise with four sum of money insured options, starting from Rs 20 lakh-Rs Seventy lakh. The insurance premium scopes from Rs 3,770 to Rs 14,276.

Kartik Jain, head, marketing, ICICI Langobard General Insurance, said: "These (the company's policies) are personalised screens and each event differs from the other. The insured amount and the insurance premiums are decided on a lawsuit to lawsuit basis. Premiums change from 0.75-1 per cent of the sum of money sum insured."

ICICI Langobard have a general event policy, which supplies screen for cancellation of the wedding ceremony ceremony owed to unanticipated perils, for eg, if the matrimony hallway acquires flooded or there is an happening of earthquake, the irreversible cost of the wedding will be reimbursed as per the policy footing and conditions.

Material harm to place like stage, seating and closet owed to open fire and public liability are also covered.

In India, the wedding ceremony market, pegged at about Rs 1.25 hundred thousand crore, is growing at 25 per cent per annum.

A three-day cocktail event may do the pocket lighter by Rs 1.5 crore and the cost of a thematic wedding ceremony - a very popular conception these years - can begin from Rs 2.5 crore!

"The most expensive are the wedding ceremony décor and entertainment. A fairly well-known entertainer would command Rs 30 hundred thousand for an evening's performance," said Tarun Sarda, CEO, Vivaha Interactive, which organises wedding-related yearly exhibitions.