My daughter is getting married next year. We have taken a wedding planner on board to plan, decide and make all the wedding arrangements. The company asked us to take an insurance cover for the event. How feasible is this?
—Rita Lamba
Wedding insurance products are available off the shelf. They cost about 1% of the overall sum assured. The insurance covers four primary risks—cancellation of the event, damage to property, personal accident and public liability. Cancellation of the ceremony due to fire, earthquake or burglary at the venue, is covered. Further, if the specified persons in the policy die, meet with a serious injury, or are hospitalised, the policy pays compensation. In such cases, the insurance indemnifies expenses already incurred including advances paid for cards, catering, decoration, and hotel.
