There is good news for the travelers booking online tickets through the Indian Railway Catering and Tourism Corporation (IRCTC) website. Come September, they can buy a travel Insurance cover of up to 10 lakhs for themselves as well as their families, all at a premium of Re 1. This insurance cover will be over and above the compensation valid ticket holders get in case of accidents.
Shriram General, Royal Sundaram and ICICI Lombard have been selected by the Indian Railways to offer the Insurance services to the travelers. 10 lakh compensation is valid in case of death and permanent total disability, 7.5 lakhs for permanent partial disability, up to 2 lakhs for hospitalization expenses and Rs.10,000 for transportation of mortal remains. The insurance cover facility is voluntary. In case of cancellation of ticket, the premium amount will be automatically transferred to the booker’s account.