Boiler & Pressure Plant Insurance

  •  About Policy 
  •    Scope of Cover 
  •    Extensions 
  •    Exclusions 
  •    Additional Covers 
  •    Rating 

About Policy

Boiler Pressure Plant Policy covers the boiler and pressure vessel you own against explosion, implosion and collapse. It can be extended to cover third party liability and surrounding property. The Boiler and Pressure Plant (BPP) Insurance policy covers physical loss or damage to all types of boilers and/or other pressure plants.

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Scope of Cover

The policy covers damage due to explosion, implosion or collapse leading to the

  • Damage (other than by fire) to the Boilers and/or other Pressure Plant.
  • Damage (other than by fire) to surrounding property of the insured described in the Schedule or to property held by the insured in trust or on commission or for which he is responsible during normal course of working.
  • Third party legal liability, up to fixed limits, arising due to
    • Death or bodily injury to third parties
    • Damage to property of third parties (not held in trust or on commission) caused by and solely due to explosion or collapse occurring in the course of ordinary working
 

Extensions

 

  • Air freight
  • Express freight (excluding air freight) overtime & holiday wages
  • Insured's own surrounding property
  • Third party liability
  • Escalation
  • Additional custom duty
 

Exclusions

Loss or damage due to:

  • Fire, lightning, inundation, flood, storm, earthquake, subsidence, landslide chemical explosion, 
  • burglary and theft, impact by land borne/water borne craft.
  • Wear and tear, faults or defects existing at the time of commencement of insurance which ought to have been or were known to you, faults or defect for which the supplier is responsible either by law or under contract.
  • War or warlike operations, nuclear reaction, radiation or radioactive contamination.
  • The failure of individual tubes in boilers of the water tube locomotive or other multi-tubular types, in super heaters or in economisers.
  • Wilful acts or gross negligence on your part or your representative's part.
  • War and nuclear risks
  • Gradual developing of flaws, defects, cracks or partial fractures.
  • Failure of individual tubes.
  • Explosions/ collapse due to facts, existing at the time of commencing insurance, known to the insured.
  • Consequential losses.
  • Wilful negligence.
  • Damage by chemical explosion except in recovery boilers and waste heat boiler.
 

Additional Covers

 

  • Express freight
  • Air freight
  • Owners surrounding property
  • Third part liability
  • Additional custom duty
  • Escalation Clause
 

Rating

 

  • Type and Age of Boilers and Claim Experience.
 

Need Help 

Customer Support: 1800-3002-3202 customercare@magma-hdi.co.in

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