Boiler & Pressure Plant Insurance Policy

Scope of cover:
This policy covers boilers and other pressure vessels,

Damage to both fired and unfired against losses due to explosion or collapse.

Damage to surrounding property arising due to explosion or collapse of the Pressure Plant during its normal course of working.
Third Party Legal Liability arising due to explosion or collapse of the Pressure Plant during its normal course of working.

Any firm, company, factory etc. who are using any Boiler and Pressure Plant, can cover them under this policy.

Significant Extensions:

Damage to the Owners existing surrounding property.
Legal liability for Third Party bodily injury and property damage.
Express Freight (Excluding Air Freight), overtime and holiday rates for wages.
Air Freight.
Additional Customs Duty.

Significant Exclusions:

Fire and allied perils.
War and Nuclear perils.
Overload experiments / tests imposing abnormal conditions.
Gradually developing defects not necessitating stoppage.
Normal wear and tear.
Failure of individual tubes not leading to explosion / collapse.
Loss / Damage during application of test by inspecting authority or otherwise.
Willful act / negligence.
Pre-existing defects and faults.
Consequential losses.
Loss or damage for which the manufacturer or supplier or repairer of the property is responsible either by law or under contracts

Sum Insured:
Sum insured should be reinstatement cost of the Boiler.