How to insure a special event?

We are arranging a party for my parents’ anniversary. Can we insure the event, considering it rains here in July? - Rahul Naik, Pune

It is a good thought to plan and insure an important event like the one that you have mentioned. What you could do is purchase a standard event cancellation policy, which is similar to a wedding insurance and costs about `25,000, and at an extra cost also covers damages to the venue. Our suggestion is, such products are yet to mature in India and it will be better for you to look for options that are less risky, especially holding the event indoors and at a venue which is safe from rains.

OLMdesk@outlookindia.com