What is boiler & pressure plant insurance?
In this Industrial era manufacturing units are exposed to Boiler explosion risk within premises. Boiler and Pressure Plant Insurance covers damage to boilers & pressure plant with damage to surrounding property and Third Party legal liability arising due to explosion and collapse of the boiler/ pressure plant during its normal course of working.
- Physical loss or damage to boilers and/or other pressure plant against unforeseen and sudden physical loss of or damage due to explosion or collapse of the insured items.
- Damage (other than fire ) to the boilers & pressure vessels damage to surrounding property – up to limit agreed.
- Third party legal liability due to explosion/ collapse/ Implosion – up to limit agreed.
- Fire, smoke, soot, aggressive substance lightning, theft, collapse of buildings, subsidence, landslide, rockslide, water
- Accident loss damage and/or liability resulting from overload experiments or tests requiring the imposition of abnormal conditions
- Loss or damage for which the manufacturer or supplier or repairer of the property is responsible either by law or under contracts
- Nuclear reaction, nuclear radiation or radioactive contamination.
- Willful act or willful negligence
- Wear and Tear
- Inherent defects
- Lack of maintenance
- Consequential loss
- Physical loss or damage to boilers and/or other pressure plant against unforeseen and sudden physical loss of or damage due to explosion or collapse of the insured items.
- Damage (other than fire ) to the boilers & pressure vessels damage to surrounding property – up to limit agreed.
- Third party legal liability due to explosion/ collapse/ Implosion – up to limit agreed.