What you need to know about insurance coverage provided by Ola and IRCTC?

Familiarise yourself with insurance offered by travel companies such as Ola and IRCTC

What you need to know about insurance coverage provided by Ola and IRCTC

Travel companies such as Ola and IRCTC have lately started offering insurance for rides or trips you take with them. This insurance coverage is available for a very low premium, but do you know what exactly is covered and what the benefits are?

Let’s take a closer look at insurance options provided by these travel companies:

Travel insurance from Ola 

How can you get insured?

If you have the updated Ola app, you will automatically be insured for every ride. Before confirming a ride, you will be notified that you are being charged an additional fee for ride insurance. 

Demystify-insurance-cover-offered-by-Ola,-IRCTC-and-other-travel-companies


How does it work?

Ola has partnered with Acko General Insurance Ltd and ICICI Lombard General Insurance Co. Ltd to provide insured rides for customers. If you take a ride from any of the 110 cities Ola is currently present in, you can avail of this insurance.

Related: Multi trip travel insurance: Why it's a must for frequent travellers 

No matter what kind of cab ride you take, you will be covered for the following:

  • Medical expenses in case of accidents – up to Rs 1,00,000
  • Maximum daily allowance for hospital expenses – up to Rs 500 per day
  • OPD Treatment – up to Rs 3000
  • Charges for ambulance transportation and evacuation – up to Rs 10,000
  • Accidental death – up to Rs 5,00,000
  • Permanent total disability – up to Rs 5,00,000
  • Permanent partial disability – up to Rs 5,00,000
  • Transportation of mortal remains – up to Rs 10,000

Apart from the above-mentioned coverage for cab rides, Ola travel insurance also offers the following coverage for travellers (applicable only for outstation rides):

  • In case your outstation cab ride takes longer than expected and you miss a domestic flight, coverage of up to Rs 5000 will be provided.
  • If you lose baggage, personal belongings, or a laptop during your ride, coverage of up to Rs 20,000 will be provided. 
  • If you need emergency hotel accommodation, you are covered for up to Rs 10,000.
  • This insurance policy also provides home insurance cover of up to Rs 1,00,000.

Who does the travel insurance not cover?

  • Loss of mobile phone is not covered under this insurance.
  • In case of baggage loss and home insurance, partial loss is not covered. Partial loss means valuables such as cash or jewellery present inside baggage.
  • In case of self-inflicted injury, wilful act, mental illness, or drug/alcohol abuse, the claim is not applicable.

Related: Travel insurance exclusions in India 

How does one make a claim?

The claim process is hassle-free. You can claim insurance benefits through the Ola app or the website by submitting the necessary documents on the app itself. Alternatively, you can submit a claim through the website or app of the companies providing insurance.

Travel insurance offered by IRCTC

How can you get insured?

The process to get travel insurance with IRCTC is quite simple. When you are booking an e-ticket through the NGeT website application, IRCTC gives you the provision to avail of rail insurance. You will find this option just before you make the payment for your tickets. Passengers have to pay only an additional 92 paise per ticket to get insured. 

Related: Understanding how student travel insurance works 

How does it work?

Although you avail of the travel insurance on the IRCTC site or app, the insurance is not actually provided by them. It is provided by other insurance companies, such as Royal Sundaram General Insurance Co. Limited, Shriram General Insurance Company, and ICICI Lombard General Insurance Company.

Once you opt for travel insurance, you get an SMS from the insurance company. The message will contain policy coverage information and also provide you with a link where you can fill in details of your nominee. 

Related: Types of travel insurance coverage in India

Each passenger under a certain PNR will be covered in case of the following:

  • Death – Rs 10,00,000
  • Permanent total disability – Rs 10,00,000
  • Permanent partial disability – Rs 7,50,000
  • Hospitalisation expenses for injury – Rs 2,00,000 
  • Transportation of mortal remains following a rail accident or untoward incident – Rs 10,000

In each of these cases, the insured amount is the same irrespective of the class of travel.

The next question in your mind must be: what are the claim benefits?

  • In case of death, 100% of the insured amount is paid to the nominee or legal heir.
  • In case of permanent total disability, 100% of the insured amount is paid to the insured, nominee, or legal heir.
  • In case of permanent partial disability, the insured will be compensated according to the nature of disablement.
  • In case of hospitalisation expenses for injury, all expenses up to Rs 2,00,000 will be compensated.
  • In case mortal remains need to be transported, an amount of up to Rs 10,000 will be provided to the nominee or legal heir.

Who does the travel insurance not cover?

  • Children under the age of five are not insured under this plan.
  • Citizens of foreign countries will not be insured.

Related: Travel insurance myths you have got to stop believing 

How does one make a claim?

In case the insured, the nominee, or the legal heir wants to claim insurance, they must submit a detailed statement to the insurance company within four months of the incident. They must also submit all proof and information relevant to the claim. 

The documents needed for a claim will differ according to the extent of injuries. Given below is a table listing down the requirements:

These insurance plans aim to make your journeys safer, so it’s definitely a good idea to avail of them while booking your rides or tickets. They are available at a very low premium and offer a level of coverage that can prove extremely beneficial in times of need.

Taxable annual salary

Salary Income

Tax exemption

Taxable income

Basic pay

8,00,000

-

8,00,000

HRA

3,00,000

1,72,000*

1,28,000

Transport Allowance

96,000

19,200 (1,600 per month)

76,800

Special Allowances

60,000

-

60,000

Leave Travel Allowance

20,000

12,000

8,000

Medical Bills

15,000

15,000

-

Gross Total

12,91,000

2,18,200

10,72,800

 

 

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