Neha Nagar Instagram – Do this before your marriage !
In India, the average cost of a wedding is around ₹20 lakh.
This month, there are an estimated 35 lakh weddings taking place, which will total ₹4 lakh crore.
But what if your wedding is cancelled or postponed due to an uncertain event, such as a wedding cancellation, property damage, or personal accidents.
In this case, wedding insurance can provide financial protection for your wedding expenses.
It typically covers liability, cancellation, damage to property, and personal accidents.
Also, it covers the following expenses when a wedding gets cancelled:
# Advances paid to cater
# Advances paid for venue rental
# Advances paid to transportation
# Advances are given for hotel room booking etc
The cost of wedding insurance varies depending on the amount of coverage you choose. A ₹20 lakh cover policy typically costs around ₹2000; this premium is subject to change in accordance with the location .
Because a ₹20-lakh cover for a wedding in Mumbai or Delhi will cost between Rs 10,000-20,000 .
It is important to purchase wedding insurance at least 3 years before your wedding date. This is because most policies have a waiting period of at least 90 days.
Not many insurers offer wedding insurance in India. Among those who do are Future Generali, ICICI Lombard, Bajaj Allianz, Oriental Insurance, and the National Insurance Company.
Follow for more such informative content ! | Posted on 30/Nov/2023 16:53:16
