Fifth Cross, CFTRI Layout, Bogadi Second Stage is insured!

Fifth Cross, CFTRI Layout, Bogadi Second Stage is insured!

July 4, 2020

Mysore/Mysuru: Life insurance, vehicle insurance, health insurance and insurance for expensive electronic items are common. But what about insurance for roads? Not a private road but public asphalted road? Sounds weird but true. Even the roads we travel on every day can be insured.

Cab driver Vasu (see pic) has gone a step ahead in insurance and has done an insurance policy for the street where his house is located. 

A resident of Fifth Cross, CFTRI Layout, Bogadi Second Stage in city, Vasu said,  “Some time ago while returning home, I thought why I can’t insure my street? Immediately, I contacted a few insurance companies. After some efforts,  I was able to get ‘No Objection Certificate (NOC)’ from Mysuru City Corporation (MCC) and took an insurance policy on June 24 from Oriental Insurance Company for the street.”

Now, this 96.80-metre long and 4-metre wide road has been insured. In case of any damage caused by any public utility or a miscreant or if there is a natural calamity, the cost of such damages will be borne by the insurance company. Vasu has taken this road insurance policy for an assured amount of Rs. 3.23 lakh and recently has paid Rs. 899 as first annual premium.

Vasu said Chairperson of Infosys Foundation Sudha Murty is the inspiration behind this innovative idea. “I always wanted to do something for the society. A few years ago, when I heard that someone in Hubballi has taken an insurance policy for a road, I thought why I can’t do this. Since 2018, I have been trying to get further information on this. I have contacted a number of insurance companies and now, my dream has come true.”

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“For everything, we wait for the Government to take up the responsibility. Instead of waiting for the MCC or other authorities, we should voluntarily come forward and help them in such matters. As this road is insured now, in case of any damage, the insurance company will pay the cost of damages and we will be able to repair them on our own instead of waiting for authorities to take action.”

MCC officials have lauded the efforts of cab driver Vasu for his civic sense and commitment to public good.

Public property is our property. We should protect them. Hence, I have made an effort in this direction and have paid Rs. 899 as first annual premium towards road insurance. If other residents on this road come forward to give financial support for the next year premium, burden on me will be reduced and also, they will have some responsibility towards this road, says Vasu, Cab Driver.


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