Scope of cover
The Policy broadly covers boilers and other pressure vessels, both fired and unfired against losses due to explosion or collapse. (Code: Engg 01)
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Sum Insured
Sum insured should be reinstatement cost of the Boiler.
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Premium
Premium chargeable depends on the type of Boiler, type of fuel and the age of equipment. Discount is allowed for seasonal factories and stand by facilities
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Significant Exclusions
The policy does not cover loss and/or damage arising from
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Fire and allied perils |
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War and Nuclear perils |
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Loss arising out of overload experiments |
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Gradual wear and tear of parts |
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Failure of individual tubes, loss due to chemical reactions |
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Wilful acts or gross negligence |
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Loss which is manufacturer's or repairer's responsibility |
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Consequential loss from explosion or collapse |
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Main Extension
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Surrounding property of the Insured (including the property held in trust or on commission) |
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Legal liability for third party bodily injury and property damage |
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Express Freight, Air Freight and Additional Customs Duty can also be covered by payment of additional premium |
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