Insurance for LPG cylinder: There is always a risk of an accident involving a gall cylinder in any person’s house. Due to any such accident, a person can get injured or even die. His domestic property can also be damaged. But many people do not know that there is insurance for injuries, death and property damage caused by the gas cylinder explosion. Oil marketing companies (OMCs) and dealers have taken an LPG gas insurance policy which is like a group insurance cover.
Oil marketing companies such as Indian Oil Corporation (IOCL), Hindustan Petroleum Corporation (HPCL), Bharat Petroleum Corporation Limited (BPCL) take a comprehensive insurance policy to provide relief to the affected people in the event of LPG related accidents. In this, all LPG customers registered with these companies get cover.
Coverage under the policy
The Public Liability Insurance policy taken by the oil marketing companies provides cover on losses due to accident, where LPG is the primary cause of fire. It is not for those situations where the primary cause of the fire is another source or cause that caused the LPG cylinder to catch fire and explode in the ba. According to the information given by the Ministry of Petroleum and Natural Gas to the Rajya Sabha in July 2019, it is available in the policy:
- In case of death, there is a personal accident cover of Rs 6 lakh per person.
- Medical expenses of Rs 30 lakh per accident are covered, out of which maximum Rs 2 lakh will be available per person.
- In case of property damage, a maximum of Rs 2 lakh will be covered per case at the registered house of the customer.
Claim filing process
All registered LPG customers are covered under an insurance policy taken by PSU oil companies. In the event of an accident, the person should immediately inform the distributor in writing. He then informs the concerned oil company and the insurance company. The oil companies help the customer or his or her concerned person to complete the insurance claim formalities due to the accident. Apart from this, all LPG distributors also have third party liability insurance cover.