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Insuring Weddings is the New Trend Among Rich Families in Jaipur

by VR Sreeraman on July 28, 2007 at 2:19 PM
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Insuring Weddings is the New Trend Among Rich Families in Jaipur

Rich families nowadays are increasingly opting to insure their big fat wedding ceremonies against mishaps.

Weddings are usually grand in India and cost a whopping amount and various insurance companies in India have come up with innovative packages to insure weddings.

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Nitya Jain, a resident of Jaipur, has come to insurance company's office to get the details of the new wedding insurance plan.

She says her parents are going to spend their life's savings on her wedding and therefore, she cannot afford to go it waste due to last minute cancellation or any mishap.
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'I am going to get my wedding insured because my parents will invest their life's savings on it. The insurance makes you feel secure,' said Nitya.

Like Nitya, more and more people are opting for wedding insurance.

Although wedding insurance is a very old concept in western countries it is quite new in India.

Ghanshyam Bhavsar, Area Manager, Bajaj Allianz says that wedding insurance covers postponement or cancellation of wedding due to accidental death of a close relative or bride or bridegroom, burglary of jewellery, damage to marriage halls by fire, lightning, domestic explosion and terrorist attacks.

'The insurance covers fire, earthquake, any kind of natural calamity, social protest and burglary,' Bhavsar said.

The insurance even covers jewellery bought for the wedding, months before and goof up by caterers. The premium depends on the covers selected.

According to market sources, wedding insurance sector is currently estimated at 700 billion rupees.

Source: ANI
SRM/B
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