Indian weddings have always been grand celebrations, but in recent years, they’ve grown larger, costlier, and more complex. With families investing months of planning and significant savings into these events, even minor last-minute disruptions can result in major financial and emotional stress. This rising uncertainty has sparked a new trend: wedding insurance.
The Rising Risks in Modern Indian Weddings
Today, the average Indian wedding costs nearly ₹28.5 lakh, a sum that can surpass the annual income of many middle-class families, according to Rahul Mathur, CEO of Roinet Insurance Broker Pvt Ltd. With over a crore weddings held annually, the scale of these events makes them highly vulnerable to unexpected problems.
Common setbacks include vendor cancellations, double-booked venues, outdoor events affected by unpredictable weather, theft, missing gifts, or sudden illness or injury of key family members. Such incidents, once considered rare, now occur frequently enough for insurers to recognize wedding-related risks as a distinct category.
Wedding Insurance: A Protective Solution
Wedding insurance acts as a financial safeguard against uncertainties that can disrupt modern celebrations. Typically offered as part of broader event insurance policies, it can cover cancellations due to natural disasters, fire, or family emergencies, as well as vendor failures, theft at the venue, or accidents involving guests. Additional coverage can protect jewellery, cash in transit, and third-party liabilities during the event.
“People insure homes, cars, and phones, yet weddings—often costing far more—usually remain unprotected. That mindset is changing,” says Mathur.
Affordable Coverage That Makes Sense
Despite misconceptions, wedding insurance is reasonably priced. Premiums generally range from 0.2% to 2% of the insured value, depending on the size, duration, and complexity of the wedding. Policies can be tailored to include specific risks such as outdoor functions, multi-city events, or large guest lists, making them practical for a variety of celebrations.
Destination Weddings Increase the Need for Insurance
The popularity of destination weddings has further fueled demand for wedding insurance. Events held in locations like Goa or Rajasthan involve higher logistical complexity and upfront costs. Insurance can cover flight delays, accommodation issues, cargo loss of outfits or décor, and weather-related disruptions, ensuring peace of mind for couples and families.
Know the Limitations
As with all insurance products, wedding coverage has limits. Pre-existing risks, voluntary cancellations, or negligent actions—such as hiring unlicensed vendors—are typically excluded. Policies may require separate add-ons for jewellery or cash, making it essential for families to carefully review coverage details and select protection aligned with their specific needs.
Faster Claims and Growing Market Awareness
Claims are usually processed within 7 to 30 days, depending on documentation and event severity. With increasing awareness, insurers are offering dedicated support teams to guide families through the claims process, making coverage more accessible and reliable. Major players like Bajaj Allianz, Tata AIG, ICICI Lombard, and HDFC ERGO are actively providing wedding-specific insurance, reflecting the sector’s growth.
A Trend Moving Toward Mainstream Adoption
As Indian weddings continue to grow in scale and cost, wedding insurance is set to become a standard financial tool, particularly among urban and NRI families. While it cannot prevent every mishap, it ensures that unforeseen crises do not overshadow what should be a joyous celebration.
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