Mumbai: For the first time in its 75-year history, Mumbai's popular Ganesh idol known as Lalbaugcha Raja and its massive marquee have been insured for a whopping Rs.26.5 million (nearly $600,000).

Another insurance policy of Rs.10 million has been taken for the 1.5 million devotees likely to visit the venue at Parel in central Mumbai during the 10-day long Ganesh Chaturthi festival.

The festival, marking the birth of elephant-headed Hindu god Ganesh, started Wednesday.

Ganesh idols are worshipped for 10 days and on the 11th, the statues are taken through the streets in processions accompanied with dancing, singing and fanfare to be immersed in sea, symbolising a ritual see-off of the god.

According to Sunil Joshi, president of the Lalbaugcha Raja organisers, the insurance cover has been taken in view of security considerations for the devotees - comprising people from all over the state, foreign tourists, VVIPs, top industrialists and Bollywood personalities.

"We have taken out two separate insurance policies from the private company, Bajaj Alliance, for which we have already paid a premium of Rs.140,000," Joshi told IANS.

The Ganesh pandal - as the marquees are known, its decorations and lighting have been erected over the past two months at a cost of nearly Rs.26.5 million. In case of any mishap, this will be fully covered by the insurance company as per its usual terms and conditions.

Similarly, the second component of Rs.10.1 million will provide cover to the huge crowds of devotees in case of any kind of accident.

Although Joshi declined to comment on the reasons for this unprecedented decision, terrorist activities in neighbouring states like Gujarat and Karnataka could have prompted the organisers to go in for insurance.

Mumbai's most-awaited idol of Lord Ganesh - the 12-ft-tall Lalbaugcha Raja - arrived Sunday at its traditional venue in Parel.

The organisers - Lalbaugcha Raja Sarvajanik Ganeshotsav Mandal (LRSGM) - made a special concession for the media on the occasion of the idol's platinum jubilee, giving them a preview.

Established in 1934, though LRSGM is not among the oldest in the city, it has been growing in popularity over the years.

Devotees like Pushkar Damle, a social worker and businessman, said he makes it a point to go with his family every year and pay obeisance to Lalbaugcha Raja.

"There is a certain divine feeling that we get there, it's difficult to express it in words. It's almost like performing a pilgrimage," explained Damle, who lives in Thane.

Recounting its origins, LRSGM secretary Sudhir Salvi said the Ganesh pandal and the nearby Parel market are located on land donated by a Muslim businessman, the late Rajjabali Tayyabali.

In 1934, the idol was attired in the traditional dress of the local Koli fisherfolk, who believed that their two-year prayers for a permanent marketplace was fulfilled because of prayers to Lord Ganesh.