As per the media reports, LPG Consumers can claim insurance coverage of up to Rs 50 Lakh, in case of any accidents. This is partly true. ... Both, the LPG companies (oil companies) and the LPG Distributors (Gas agencies) take Third Party Liability Insurance. No premium is collected from the LPG customer. Every licensed LPG distributor in the country and their customers are covered under this policy which guaranteed benefit pay out of up to Rs.50 lakh depending on the damage and result of the investigation. OMCs (Oil Marketing Companies) that operate as PSUs are required to take on insurance policies including Third Party Insurance cover for persons and property. This policy is called the Public Liability Policy for Oil Industries.
The policy is so demanding that the distributor itself must assist the aggrieved customer in the due process of filling out paperwork, etc. that’s required for making an insurance claim. The LPG company that provides the cylinders is bound by law to honour all such claims and requests.
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