How do Ganpati mandals protect their gold idols?

Happy Ganesh Chaturthi!

Ganesh Chaturthi is one of the most celebrated festivals across India. Each year the festivities span over 10 days and involve expensive Ganpati idols inside mandals laden with heavy gold ornaments.
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Leaving gold out in the open is obviously very risky. And this is why many of these mandals mitigate this risk by opting for insurance covers worth hundreds of Crores.

In fact, business skyrockets for insurance companies during these 10 days.
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They end up insuring over 100 big and small mandals for amounts ranging anywhere from ₹1 Lakh to a whopping ₹300 Crore.

For example, Mumbai’s wealthiest Ganpati mandal, the Gowd Saraswat Brahman (GSB) Ganesh Mandal took insurance worth ₹ 266.65 crore in 2019 alone.
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This amount included a ₹20 Crore cover for gold and silver jewelry, valuables, and the idol, ₹20 Crore for the devotees, and a ₹225 Crore personal accident cover for volunteers and mandal officers.
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The GSB is not the only mandal with an insurance cover amount leaking into 8 figures. The famous Lalbaugcha Raja is also insured for over ₹25 Crore. Their insurance scheme provides covers for volunteers, devotees, the idol, ornaments and the mandap.
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They’ve also opted for an additional public liability cover.

In general, mandals insure everything including the CCTV, furniture, fixtures, grocery, fruits, vegetables and computers against a number of risks like fire, natural calamities, riots, electrical damages, etc.
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Tag someone who would find this interesting!
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#BimaPeBharosa #India #GaneshChaturthi2021 #insurance

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More from @BimaPeBharosa

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Wrong

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