Boiler Insurance
Cover your future for any unforseen risks.
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The Insurance Policy broadly covers boilers and other pressure vessels, both fired and unfired against losses due to explosion or collapse .
“Explosion” shall mean sudden and violent rending or tearing apart of the permanent structure of a boiler or pressure plant or any part or parts thereof by force of internal steam gas or fluid pressure causing bodily displacement of the said structure and accompanied by the forcible ejection of its contents.
“Collapse” shall mean the sudden and dangerous distortion of any part of aB boiler or Pressure Plant by bending or crushing caused by steam gas, fluid pressure whether attended by rupture or not. It shall not mean any slowly developing deformation due to any cause.
Sum insured should be reinstatement cost of the Boiler.
The Insurance Policy does not cover loss and/or damage arising from Fire and allied perils, War and Nuclear perils, loss arising out of overload experiments, gradual wear and tear of parts, failure of individual tubes, loss due to chemical reactions, wilful acts or gross negligence, loss which is manufacturer’s or repairer’s responsibility and consequential loss from explosion or collapse.
FAQ
Main policy can be extended on payment of additional premium to cover:
- Surrounding property of the Insured (including the property held in trust or on commission)
- Legal liability for third party bodily injury and property damage
- Express Freight, Air Freight and Additional Customs Duty can also be covered by payment of additional premium.
You can download the product specifications from here.
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