Use wedding insurance to secure marriage events

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Chuks Udo Okonta

As the cost of wedding ceremonies continues to rise, insurance operators have advised intending couples to embrace wedding insurance as a prudent way of safeguarding their investments and ensuring seamless celebrations.

Checks reveal that the average cost of hosting a standard wedding event in Nigeria now ranges between ₦5 million and ₦15 million, depending on the scale, number of guests and location. In cosmopolitan cities such as Lagos, Abuja and Port Harcourt, elaborate weddings involving traditional rites, court weddings, church ceremonies and grand receptions often exceed ₦30 million. With such huge financial outlays, any unexpected disruption could result in substantial losses.

Wedding insurance is a specialised policy designed to protect couples against financial losses arising from unforeseen events before or during their marriage ceremonies. The cover typically provides compensation for cancellation or postponement due to sudden illness, accidents, vendor failure, extreme weather conditions and other factors beyond the control of the couple. Some policies also cover loss or damage to wedding items, hired equipment and public liability in the event of injury or property damage at the venue.

Insurance practitioners note that Nigerian weddings are often held in phases and across multiple locations, increasing exposure to risk. A single incident, such as the sudden unavailability of a venue or non-performance by a key service provider, can disrupt the entire programme. Wedding insurance helps to cushion these risks by reimbursing insured costs, enabling couples to reorganise their events with minimal financial strain.

Beyond financial protection, wedding insurance offers peace of mind to couples and their families. With key risks transferred to insurers, attention can be focused on the joy and significance of the occasion rather than potential setbacks. In some cases, the cover also extends to wedding gifts, attire and rings, providing more comprehensive protection.

Experts, however, advise intending couples to carefully review policy terms, coverage limits and exclusions before purchase. Voluntary cancellations, pre-existing issues known prior to policy issuance and certain force majeure events may not be covered. They recommend engaging licensed insurance brokers or agents for proper guidance.

With wedding ceremonies becoming more elaborate and costly, wedding insurance is increasingly being seen as a responsible planning tool. By insuring their marriage events, couples can protect their finances and commence their marital journey with greater confidence and peace of mind.