Wedding Insurance: The wedding season is just round the corner. While insurance experts suggest buying a cover for your special day to secure the huge expenses in case of a mishap, here are some other insurance tips to make sure your wedding day is perfect.
- Wedding rings: Even if a great deal of time has been spent on preparations for the wedding, this doesn’t rule out the possibility of minor unexpected mishaps, for example, the theft of the wedding or engagement rings. This sort of risk is included in home insurance policies, which covers expensive pieces of jewellery. Even if your wedding ring has an irreplaceable emotional value, financial reimbursement may go some way to comforting you after the loss.
- Wedding car: on the day of the wedding and when taking that journey towards a life together, it is important to think about driving safely – even during the highly popular drive in a motorcade. Make sure that the decoration on the car does not obstruct the driver’s vision. In case you are using a new car or someone else’s luxury car as the wedding car, make sure to do a test drive beforehand. Misjudgement of the brakes and the driving dynamics in critical situations pose a major risk when driving a car for the first time.
- Honeymoon: What could be more wonderful than relaxing on one’s honeymoon after the great event? But even then, one should give some thought to insurance and get adequate travel insurance beforehand, which may include cancellation insurance and loss of luggage reimbursement. It might be wise to do a health check before heading off, doctors can give advice about prevention measures to be taken when travelling to distant and exotic locations. Travel insurance will cover, if required, the costs of medical treatment abroad and, if necessary, repatriation due to illness.
- Household: Weddings mean setting up a new home together. And to ensure that your home is secure against risks like fire or a natural calamity, it is advised to take a home insurance policy. Even if your first home is a rented accommodation, such a policy would cover the contents of the house from these risks, as well as against burglary.
- Shared healthy future: just as important as considering the property insurance, it is important to think early about health insurance of both partners. In is advisable for both partners to be well insured against hospitalisation. However “unromantic” it may appear, couples should have a look at their documents and have a conversation on health insurance. Even if the employers of both the partners provide a group health cover, it is prudent to take individual health policies or a family floater that would cover the couple under a common sum insured.
By: Mr. T A Ramalingam, Chief Technical Officer, Bajaj Allianz General Insurance
