2 crore passengers opt for rail insurance cover

We have got a good response to the optional insurance scheme as more than two crore passengers have availed the facility so far, said a senior IRCTC official. According to the data provided by the Railways, 20,763,353 passengers have opted for the insurance cover till October 30.

The facility, which was announced in the Railway Budget 2016-17, allows a passenger to get an insurance cover of up to Rs 10 lakh on booking a train ticket online by paying just 92 paisa. As part of the ‘Diwali bonanza’, IRCTC had reduced the cover price from 92 paisa to just one paisa from October 7 till Diwali. From October 31, it has been restored to 92 paisa as announced earlier, said the official.

While about 5.5 lakh travellers book their tickets online daily, only around 3.5 lakh are opting for the insurance cover, he said. The scheme offers travellers or their families compensation of up to Rs 10 lakh in the event of death or permanent total disability, Rs 7.5 lakh for permanent partial disability, up to Rs 2 lakh for hospitalisation expenses and Rs 10,000 for transportation of mortal remains in the event of death or injury from a train accident or other untoward incident, including terrorist attacks, dacoity, rioting, shoot-out or arson, as well as for short termination, diverted route and Vikalp trains.

The facility is available for all rail passengers who book the e-ticket, excluding sub-urban trains and irrespective of the class of the ticket. The premium amount is automatically added to the ticket fare if the passenger opts for the insurance. The scheme is being implemented by IRCTC in partnership with ICICI Lombard, Royal Sundaram and Shriram General.

The claim and liability is between the passenger and the insurance company. In the event of death due to accident, 100 per cent of the sum insured will be paid by the company. Those wanting coverage for children below five years of age have to furnish details of the child at the time of booking and accordingly travel insurance premium is added to the total amount payable.