Highlights

This is a specially designed policy which covers accidental loss or damage to a Boiler & Pressure Plant. In this Industrial era manufacturing units are exposed to Boiler explosion risk within premises. Gulf Unions 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

The 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

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.

Note: Policy details given are indicative, not exhaustive. Please contact your Gulf Union office for further details.