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Boiler Pressure Plant Insurance

Almost all industrial manufacturing units use boilers and pressure plants as an essential part of their daily production and operations. Liberty General Insurance’s Boiler Pressure Plant Insurance is a special coverage against loss or damage to these boilers and pressure plants, which might cause the business to suffer. The policy is designed to cover any losses or damages incurred due explosion or collapse to various types of boilers and pressure plants in a factory.

Features & Benefits

  • Requirements

    The boilers and pressure plants in a factory are supposed to operate at high temperatures and under intense pressures. Such extreme conditions make them susceptible to mishaps, and if it were to happen, it can leave a major impact on the functions of a business. Therefore, securing such equipment is extremely vital as a little bad luck can result in a hazard, putting the people and property nearby in harm’s way. Our Boiler & Pressure Plant Insurance policy keeps you covered and prepared for such crises.

  • Benefits

    If the boilers and pressure plants in a factory were to explode or collapse due to unidentified or unforeseeable reasons, having this policy in place keeps you well safeguarded. The insurance Policy will ensure that you get the boiler and pressure plant repaired or the equipment replaced. Plus, a policy extension can also help you pay for any damages or injury caused to a third party.

  • Sum Insured

    The sum insured under this policy shall be equal to the total present day replacement value of your equipment, plus a sum for personal injury as well as the damage caused to your property. Under the policy extension, it will also cover third party property surrounding the boiler or pressure plant in case of a mishap.

  • Premium

    The premium you pay as the policy holder depends purely on the nature of the insured property i.e. the type and age of boiler being used.

Please read the Policy Wording for more information.*Terms & Conditions apply.

Coverage

Anyone who owns a set of boilers and pressure plants installed in their factory premises can make use of this policy.

To know more about the eligibility, inclusions and exclusions, please read the Policy Wordings .

Our Boiler & Pressure Plant Insurance policy will cover you when your boilers and pressure plants explode or collapse. This policy will pay for damage to the equipment itself.

However, if you opt for extra coverage and pay an additional premium, it can also pay for:

  • Your surrounding property
  • Third party liability
  • Express freight, overtime, holiday wages etc.
  • Air freight
  • Additional customs duty

The following are 'named excluded perils' under the Boiler & Pressure Plant Insurance policy, which are specific risks not covered by the policy.​

  • Fire and allied perils.
  • War and nuclear events
  • Overload experiments
  • Wear and tear
  • Wilful act of damage
  • Gross negligence
  • ​Pre-existing defects

Frequently Asked Questions

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Who can buy this product

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Commercial Establishments (Hotels, Offices, Shops, Malls, Hospitals Etc.), Manufacturing units

Items Insured

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Boilers and Pressure Vessels

Product Coverage

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Policy covers damage to the Boiler and/or Pressure Plant described in the Policy Schedule due to accident (other than by fire)

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Pricing related

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Premium charged on equipment basis, Different Premium rates for different machinery, age of Pressure Vessel, Claims History.

How do I record any changes in the policy?

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What is third party liability insurance? Is it covered in this policy?

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

What is third party liability insurance? Is it covered in this policy?

Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

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Its because of him we were able to convince the client to move to Liberty along with local sales support.​

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We find the report is very exhaustive in bringing out the risk exposures and the works the client has to carry out for risk elimination. Surely the client will be benefited by the suggestions you have put forth.​

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The contents of your newsletter are quite interesting and informative.

This will help in creating awareness in the industry about the loss prevention and good maintenance.

Thanks for the good work you are doing.​

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Registration Number: 150 | ARN:Advt/2018/March/26 | CIN: U66000MH2010PLC209656

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Reg Office: 10th floor, Tower A, Peninsula Business Park, Ganpat Rao Kadam Marg, Lower Parel, Mumbai - 400013

Trade Logo displayed above belongs to Liberty Mutual and used by the Liberty General Insurance Limited under license. For more details on risk factors, terms & conditions please read sales brochure carefully before concluding a sale.

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