Boiler & Pressure Plant
Why Boiler and Pressure Plant Insurance?
Boiler and Pressure Plant Insurance covers damage other than by fire, to boilers & pressure plant, damage to surrounding property, Third Party legal liability arising due to explosion and collapse of the bolier/ pressure plant during its normal course of working.
What is Covered?
This Policy covers boiler & pressure vessels owned by you and located at your premises against explosion, implosion and collapse leading to:
- Damage to the boilers & pressure vessels
- Damage to surrounding property, up to fixed limits, arising due to explosion & collapse of the pressure plant during normal course of working and
- Third party legal liability, up to fixed limits, arising due to:
- Death or bodily injury to third parties
- Damage to property of third parties (not held in trust or on commission) caused by and solely due to explosion or collapse occurring in the course of ordinary working.
What Can be Covered on Payment of Additional Premium?
You may extend your policy by paying additional premium. Major optional extensions available are:
- Express freight
- Air freight
- Owners surrounding property
- Third party liability
- Additional custom duty
What is Not Covered?
Your policy does not provide coverage for loss or damage resulting from:
- Fire, lightning, inundation, flood, storm , earthquake, subsidence, landslide, chemical explosion, burglary and theft, impact by land borne/water borne craft
- Wear and tear, faults or defects existing at the time of commencement of insurance which ought to have been or were known to you, faults or defect for which the supplier is responsible either by law or under contract
- War or warlike operations, nuclear reaction, radiation or radioactive contamination
- Loss, damage and/or liability resulting from overload experiments or tests
- The failure of individual tubes in boilers of the water tube locomotive or other multitubular types, in super heaters or in economizers
- Wilful acts or gross negligence on the part of you or your representatives
- Loss of use of the Insured's plant or property or any other consequential loss incurred by the Insured
- Loss or damage for which the manufacturer or supplier or repairer of the property is responsible either by law or under contracts.