Boiler Pressure Plant
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.
Policy Coverage
- Policy covers 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.
Coverage includes:
- Damage (other than Fire) to the boilers & pressure vessels.
- Damage to surrounding property - Upto Limit agreed and Third party legal liability due to Explosion/ Collapse/ Implosion - Upto Limit agreed.
Extensions
- Express freight (excluding airfreight), Overtime and Holiday rates of wages.
- Airfreight.
- Owner’s Surrounding Property.
- Third Party Liability.
- Additional Customs Duty.
Sum Insured
- Sum Insured should represent their new replacement values.
Premium
- Premium depends upon Type of Boiler and Age of Boiler.
Excess
- The policy is subject to a compulsory excess.
Exclusions
- Sum Insured should represent their new replacement values.
- The policy does not cover any losses or damage due to
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.
- Political risks.
- Nuclear reactions, Nuclear radiation or radioactive contamination.
- Willful act or willful negligence.
- Wear and tear.
- Inherent defects.
- Lack of maintenance.
- Consequential loss.
How to claim?
If a misfortune befalls, leave the worry to us but please intimate such loss/damage immediately to Zoom Insurance Brokers (info@zoominsurancebrokers.com)so that a Competent Surveyor may be deputed to minimize the loss.