Train travel to cost more? Indian Railways hikes IRCTC insurance premium

New Delhi: In a blow to train travellers who throng railway stations every day, the Indian Railways has hiked the premium for the IRCTC optional insurance scheme. Train passengers will now have to pay 45 paise per ticket as an insurance premium compared to 35 per ticket earlier. The scheme was introduced in September 2016. Earlier, the Indian Railways paid a Rs 0.92 premium on every e-ticket booked. However, since then the premium has been slashed but it is charged to the passenger based on their choice.

What is IRCTC optional insurance?

IRCTC optional insurance scheme offers coverage up to R2 10 lakh to all passengers who book their e-tickets on the IRCTC website, irrespective of their travel class. To be sure, passengers must tick the insurance option while booking their ticket to be eligible for the insurance cover. The plan covers a passenger against any mishap during the train journey.

The approximate cover offered by IRCTC optional insurance is as follows:

How to claim IRCTC optional insurance

• Train passengers who have opted for optional insurance must report any accident or incident to the Railways at the earliest
• The application must be accompanied by a hospital discharge summary or consultation paper or treatment papers
• The passenger must fill out a claim form with NEFT details of their bank account

Are children covered by IRCTC optional insurance scheme?

• Infants aged below 5 years of age are not insured by IRCTC optional insurance, even if the same has been opted for.
• Children aged 5-11 years old are covered in your insurance whether you have booked them a berth or not.
• Waitlisted category travellers are not covered by IRCTC insurance.
• On opting for insurance, the passenger will receive a message asking them to name a nominee.
• Even if the nominee has not been updated, the family can lay a claim through courts in the event of an accident.

How many beneficiaries of IRCTC insurance?

According to the parliamentary standing committee on railways, 34.4 crore passengers opted for insurance in FY19, paying a premium worth Rs 8.53 crore. Claims worth Rs 6.12 crore were made during this period.

In FY20, 27.3 crore passengers opted for the insurance cover, paying Rs 13.38 crore premium. Insurers processed claims worth Rs 3.73 crore during this period.

• Indian Railways