Personal Finance
You can avail this cover under the home insurance package policy
Updated : Aug 13, 2019, 06:35 AM IST
The wedding insurance policy pays for the expenses incurred in the event of a cancellation or postponement of the wedding due to various perils. Non-appearance of the guests due to flight cancellation is not part of the coverage under such a policy. However, in case of a cancellation of the wedding, travel expenses incurred by the insured and family members including their guests' travel expenses can be allowed to be covered as part of expenses which are specifically declared in the policy.
House and its contents are best protected through home insurance package cover. This is a comprehensive policy and can protect the building and its contents against fire and allied perils, including earthquake, terrorism, etc. The contents can also be protected against burglary and theft. Costly home appliances can be insured against accidental breakdowns. Also, some sections can be taken for personal accident insurance, liability towards servants in the household, etc.
It is not mandatory. However, it would be advisable to protect them against burglary/ robbery, damage, accidental loss, etc. by taking an all-risk insurance cover. You can avail this cover under the home insurance package policy.
It is the choice of the customer to cover the car only for third-party liability insurance, which is a statutory requirement under the Motor Vehicles Act, 1988, or a comprehensive cover for the car and third party insurance. Third-party insurance covers the financial loss only against any legal liability that the owner may incur due to death or bodily injury to a third party or damage to the property of a third party while using the vehicle. People may normally opt for third party coverage only considering financial aspects, age of the vehicle, limited use of vehicles, etc. They also have the option for a restricted cover for liability only and fire and/or theft risks in case they wish to have improved coverage at lower premiums. For new and costly vehicles, it is always advisable to take a comprehensive cover, which insures the owner against damage to the owned vehicle as well as third party liability.
Shreeraj Deshpande, principal officer, Future Generali India Insurance