LPG cylinders come with Rs.40 lakh risk cover

[naveenarichwal]

http://consumerresources.in/2013/11/13/ ... isk-cover/

While most us know how to avoid accidents, few know that we have Rs. 40 lakh risk cover in case of damage due to cylinder explosion!

In fact, companies have not seen a single insurance claim from Jaipur in years. Given the level of awareness, it’s not a surprise.

Customers unaware Most homemakers were completely shocked when DNA told them about the insurance cover available on LPG cylinders. “I never knew that such damages could be claimed from the gas agency,” said Varsha Singh.

Leave alone simple homemakers, even well-read professionals seem to have little clue of this “hidden benefit”. “I did not know that we get insurance in case an LPG cylinder explodes.

The staff at the gas agency never informed me,” said Amit Agarwal, a chartered accountant who recently got a gas connection.

Ignorance pays only the insurers Every month, nationalised insurance companies get lakhs of rupees as premium and this amount increases constantly with an ever rising number of ignorant consumers, each of whom are covered in part by the Oriental Insurance Company and the gas agency concerned.

“We received Rs26 lakh as monthly premium from a single gas agency in Jaipur, a city which has more than 400 gas agencies,” an agency owner said.

[naveenarichwal]

Also the Gas company has to bear the cost of Treatment.