Having insurance for anything that goes wrong ensures that you are shielded. The insurance will pay you back the money. Looking in the times we are, having industry in place is a must. Insurance is available for everything. Ranging from insurance for your car to one for your home or even your wedding.
A humongous task
But what if your dream day turns into a complete nightmare?
Why get a Wedding Insurance?
Types of Wedding Insurance
How Wedding Insurance is Emerging as a new Business Model?
FAQ
Planning a Wedding is a Humongous Task
Planning a wedding is no joke, and people involved in the wedding business will tell you about it. Behind the scenes of a single wedding day requires months or even a year of planning in advance. Besides, you want everything to be perfect and dreamy as per your wishes.
For so long, the industry that has been dealing with weddings has been a completely different sphere. It includes:
- Dressing
- Cakes
- Decorators
- Food
- Booking
- Music
- Venue
And you know, the list does not end here. You need to constantly be on the look-out for everything.
But what if your dream day turns into a complete nightmare?
You can plan everything, but at times some things are beyond our control. But still, at times, not everything works out according to what you plan, and there goes the months of planning and taking every minute detail of planning right in the bin.
Weather
The last thing you want is a snowstorm to hit and not being able to do anything about it. Now, the climate is something that is natural, and you can't help it.
Fireworks gone wrong
All the while, you are walking and your guests are holding sparklers to make your entrance memorable. Your dress accidentally catches your wedding dress on fire.
Health issues
What if your other half faces an emergency health problem right on your wedding day. Or someone from your immediate family.
Why get a Wedding Insurance?
Insurances act as a shield when something goes wrong. Planning every tad tidbit. Covering all the minor and major factors that go into the planning and arranging of your wedding day. Walking down the aisle when everything is just perfect. Because you do not want a scandal while having the day that you dream of coming to life.
Disha
Types of Wedding Insurance
Event cancelation coverage
Now, this policy will pay you back if your wedding is canceled over some of the reasons like the following:
- The bride or the groom needs to be immediately deployed to the military.
- If any extreme weather does not allow you or most of your guests to attend the event.
- If either person from the couple could be facing any serious emergency health issues or someone from their immediate family.
Just in case if you need to reschedule, the policy may also help you reimburse your money if you already have paid for the venue and the caterers under unforeseen circumstances.
Which also includes:
- Wedding gifts, photographs, videos that are lost or damaged.
- If your photographer does not show a refund.
- Repair or replacement costs for your wedding attire and rings.
Event liability insurance
Majorly limited to a 24-28 hours period. It helps if you are planning on a rehearsal. It protects:
- The rehearsal dinner
- Wedding ceremony and reception
- The set-up and removal within 24 hours of the event.
It also covers the cost if you are legally accused of injuring someone at your wedding or causing damage to the venue.
How Wedding Insurance is Emerging as a new Business Model?
Need of the hour
The pandemic caused much chaos in our lives. Delayed the reopening of our schools, colleges, restaurants, parks, and some of the most important days planned by many. It prolonged many people's weddings.
Establishing trust with the customers
Providing people with that peace of mind. The segment of the market that is booking halls for their weddings are also trusting. These wedding insurance companies, that they will protect their investments if anything goes wrong during these uncertain times.
Specifically tailored policies
The couples have the policy to choose from which suits them according to their wants. With the flexibility to also add some packages along with either event cancelation coverage policy and the freedom to add some specific package to the policy if needed.
Search Engine Marketing
The wedding insurance industry is leveraging platforms like Google Ads to increase their organic search results (SERPs). So, for example, if someone is looking for a company, it will use the keywords like "wedding insurance" and organize your websites by topic. So that it increases the probability of coming up in the search results.
Using pay-per-click (PPC) allows you to pay a fee to have your website on the search engine result page when people are looking for specific keywords or phrases in the search engine.
Social media marketing
Reaching out to young couples looking to plan a wedding on social media. Especially the brides who look for the options directly on social media when researching for what they are looking for.
These companies use Pinterest as it is the go-to place to plan anything and everything.
Ranging from ideas for DIYS; indoor decor to planning your weddings. They expand their boards using seasonal photos, and optimize the boards in a way so they gain visibility on Pinterest.
Referrals and Digital marketing
There is no one better advocate for your business than a satisfied customer. Wedding insurance companies now have their own websites. To make their presence visible online in the digital world.
Sharply pairing up the space with a section of reviews from satisfied customers with the service, that in turn act as referrals.
They also use E-mail marketing appropriately for their wedding business and getting into the right directories for digital marketing.
Chayanika Goswami
FAQ
What is covered by wedding insurance?
Wedding insurances usually covers the cost of the wedding ceremony and reception if something goes wrong.
How much does wedding insurance typically cost?
Wedding insurance policies ranges roughly around $215 to $1300.
What are the types of wedding insurance?
There are two types of wedding insurance, Event cancelation coverage and Event liability insurance.
Author: Mahenoor Mansuri
Source : https://startuptalky.com/wedding-insurance-business-model/
Date : 2021-09-02T14:14:01.000Z