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What’s The LPG Insurance Policy in India

LPG insurance policy

News regarding ₹50 Lakh LPG insurance policy has been doing the rounds for quite some time now. So, Are the rumours true? Several authorized dealers are available for LPG cylinders. In this article, we’ll have an overview of Indane Gas Insurance Policy, HP Gas Insurance Policy, and Bharat Gas Insurance Policy along with some stats.

LPG Insurance Policy Explained

There are millions of Indians using Liquified Petroleum Gas or LPG cylinders for daily needs. Furthermore, the number is so huge that shortcomings in the process or by the consumers keep happening. As a result, oil companies that provide LPG and the local distributors take a third party insurance policy. Consumers don’t have to pay a premium to avail the policy as it is not taken in an individuals name. The amount of cover (medical) varies massively, from ₹15 Lakh in HP Gas Insurance Policy to ₹30 Lakh in Indane Gas Insurance Policy and unspecified in Bharat Gas Insurance Policy. Subsequently, the benefits include:

  • Personal accident cover between ₹5-6 Lakh
  • Medical expenses between ₹1-2 Lakh (per person)
  • Property damages between ₹1-2 Lakh

Major Causes Of Gas Explosions

  • Improper use of stoves, furnaces or other appliances.
  • Poorly or incorrectly installed gas appliances.
  • Old gas lines or the damaged ones that run from the street into your home.
  • Defective gas equipment.
  • Faulty manufacturing of gas cylinders.

Procedure To Apply For The Claim

  • In case of an accident, the customer must immediately contact the distributor and submit a written record
  • The distributor will then informs the concerned oil company and the insurance company about the incident.
  • Furthermore, the distributor will assist the customer in completing formalities of the insurance claims regarding the accident.
  • In addition to this, all LPG distributors also have third party liability LPG insurance policy to cover losses in the event of an accident.

Here’s How Your Claim Can Be Rejected

  • Your claim will be rejected if the verification proves that the accident was due to your carelessness.
  • If you weren’t using ISI-marked accessories when the accident happened, your claim can be rejected.
  • The incident should have occurred at the authorized registered premises of the LPG customers.
  • Claims depend on the amount of loss and not every claim amounts to ₹40-50 Lakh.

Measures To Avoid Gas Explosion

Here are some measures that can help you avoid a gas explosion and requirement of an LPG insurance policy 

  • Check out if the gas is turned on. In case it is, turn it off only if it’s not risky.
  • Don’t turn on the lights as the spark will light up the gas.
  • Open all the doors and windows for the gas to escape.
  • Be aware of where your gas meter is so that you can turn it off if not risky.

Conclusion

Around 260 LPG blast incidents happen every year. Although the LPG insurance policy covers the damages where possible, a policy won’t bring back your life. Make sure you’re aware of the precautions asked for by the company to be on the safer side. A lot of people are not aware that they are covered under this policy, mostly in rural India. If you come across someone who has had a gas accident let them know about the LPG insurance policy.

 

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