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- Due to the rising price of wedding celebrations, insurance companies have come up with an idea to assist couples.
- An event insurance policy covers weddings or any big celebration in case an irrecoverable expense occurs.
- Anything can come up on your special day, from natural disasters to accidents and even death; cover may be a good idea.
Weddings are meant to be a special moment where love is celebrated, and like any other item that you love that is costly, you insure it. Because of how expensive weddings have become, it is a good idea to insure the event with good wedding insurance. An Indian insurance company now covers weddings if irrecoverable expenses occur during the day.
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According to Outlook India, Future Generali India Insurance company covers weddings if some unfortunate event occurs resulting in the wedding being postponed or cancelled, where the insurance will protect against any losses. Most people get married in summer, and it's quite difficult to gauge what the weather will be like a year before, causing weddings to be postponed. Hence, the insurance company accommodates couples by including natural disasters such as unseasonal rain, hailstorms, and tsunamis.
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Also included in the insurance plan is the venue where loss or damage due to natural disasters is covered. The company says accidents to the groom, bride, or their relatives are also covered. The insurance even covers deaths at weddings. While comprehensive, Future Generali doesn't insure everything like pandemics, for example.
The Covid-19 pandemic led to global lockdowns, and wedding celebrations got cancelled or postponed on a large scale.
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According to Forbes, weddings are not the only event that can be insured. You can also purchase coverage for other occasions such as a large 50th wedding anniversary, baby showers, reunions or other special celebrations that are significant financial undertakings.
When thinking about taking up event insurance, it is important that you know the circumstances under which the policy covers you.
Sources: Outlook India, Forbes
