You are in the midst of your marriage and suddenly you hear your relatives scream. The caterer has turned tail at the last moment, they tell you.

Don't get hassled. A wedding insurance policy takes care of everything.

However, nothing can be done if the bride or the groom decides to run away.

To avoid major bloopers on the big day, opting for a wedding insurance policy is catching on. Granted that insurance is the last thing on your mind, after s/he pops the question.

Nevertheless going for a cover relieves everybody if ever you were to face a situation.

What do marriage insurances cover?

Any expenses incurred owing to postponement, cancellation or stoppage of marriage is covered by a wedding insurance policy.

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National Insurance Company, Oriental Insurance Company, United India Insurance and New India Assurance Company offer the wedding bells policy.

Among the private players, Bajaj Allianz and ICICI Lombard offer a wedding insurance policy. Sometimes, an "event insurance" cover takes care of the wedding.

Under cover

Right from brides or grooms coming late to burglary of valuables, everything is covered under a wedding insurance policy. The biggest risk covered is non-availability of groom or bride owing to stranded transport or law and order problem.

Any damage to building and contents due to fire or allied perils is also considered a ground for claims. Accidental death in family or that of close family friend is also covered. Police action, unless it's a child marriage case or criminal in nature also gets insurance protection.

Legal liability and third party damages are recognised as risks. There is cover against food poisoning too, which comes under public liability clause. Even if wedding ornaments are lost, the policy stands.

What if wedding dress develops some problem? The insurance policy provides succour.

Did you lose your wedding photographs or damaged them by mistake? Now, the insurance company arranges a special get-together, where cameras can go clicking again. If the musicians fail to turn up, the policy comes into play.

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The money kept in safe also comes under insurance policy. It extends to the day after nuptials too.  Burglary of valuables is covered for one day after the marriage, as it is assumed that people stay back the night after wedding.

The gatecrashers

What happens, when wedding parties start disputes? The insurance policy cannot be claimed. 

There are a whole lot of exclusions, which prevent a wedding insurance claim from being accepted. A marriage under duress, criminal acts, misconduct, misrepresentation, willful negligence, insolvency and influence of drugs or alcohol are sufficient to exclude a policy.

Nuclear perils, radioactivity, war and war-like perils also come under exclusions. The fine print has to be read because damage to electricity through short-circuits or self-heating deprives you of policy benefits.

Once, a wedding dress had to be kept in hold of aircraft, but suffered damage. The insurance company did not pay the money because it came under "travel", not wedding. In which case you can attend your own wedding wearing a jeans and a jacket!

Fork out the premiums

The premiums for the wedding insurance are small, considering that expenditure may touch a few lakh rupees.

Public sector insurance companies, may for a sum assured of Rs 5 lakhs charge 0.50 to 3.25 per cent as premium, while private companies for a sum assured of Rs 2 lakhs ask for premium of Rs 3,770 and for sum assured of Rs 8 lakhs, charge a premium of Rs 14,276, generally.

There may be a provision for taking wedding insurance, only for select items. For example, if you choose to opt for burglary protection only, premium works out to Rs 300, if money in safe is chosen, premium amounts to Rs 200 and if public liability risk is settled for, the premium can be Rs 1,000 also.

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However, many insurance firms, in wedding policies coin the term "excess," asking you to pay a certain amount.

For example, if a cancellation policy is bought, a 2 per cent of claim, or the minimum being Rs 15,000 has to be paid up.

Property risk cover means 1 per cent of claim, has to be rendered, with minimum being Rs 10,000 and money in safe protection cover also means 1 per cent of the amount to be claimed is to be shelled out, with Rs 10, 000 as minimum amount.

The compensation for wedding insurance comprises expenses, securities and advances based on actuals. The loss of property is calculated on actuals and perils.

Subsidiary marriage functions can also be part of policy, when applying. The protective cover is thrown around from within 7 days of marriage, generally and continues till midnight, day after marriage.

These nuptial knots!

A wedding insurance claim to be cleared, must give a proper break-up of items always. Where there is damage to property, the amount lost in decoration, sets, hiring charges must all be mentioned. In case of jewellery, the strange part is that ornaments given by relatives and in-laws only are covered.

The valuation certificates are also to be submitted and shop bills shown. All relatives should be informed about the requirement, so that documents are procured.

More contractors mean more premiums. Limit the number to cut down on insurance expenses.

A unique situation like the bride or groom-changing mind, at wedding venue may occur. Would insurance be still paid? No. The wedding insurance policy dubs it as "cold feet."

Meenakshi Subramaniam is a former IRS officer