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How do Ganpati mandals protect their gold idols?

How do Ganpati mandals protect their gold idols?

Ganesh Chaturthi is one of the most celebrated festivals across the country. Each year the festivities span over 10 days and involve expensive Ganpati idols inside some mandals laden with heavy gold ornaments.

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. 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 at King’s circle took an insurance cover worth ₹ 266.65 crore in 2019 alone. 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.

The GSB is not the only mandal with an insurance cover amount leaking into 8 figures. The famous Lalbaugcha Raja was also insured for over ₹25 Crore in 2019. Their insurance scheme provides covers for volunteers, devotees, the idol, ornaments and the mandap. They had also opted for an additional public liability cover.

In general, mandals insure everything including the CCTV, furniture and fixtures, grocery, fruits, vegetables and computers against a number of risks like fire, natural calamities, riots, strikes, road damages, electrical damage, etc.

How do businesses cover accidental injuries or death that may occur on their premises? Through Public Liability Insurance!

Further Reading

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