Boilers and Pressure Vessel Insurance
Protects insured boilers and pressure vessels against sudden and unforeseen physical loss or damage arising from explosion, collapse and other insured accidental events, subject to the policy schedule and conditions.
Purpose
Protects insured boilers and pressure vessels against sudden and unforeseen physical loss or damage arising from explosion, collapse and other insured accidental events, subject to the policy schedule and conditions.
Main covers
- Sudden explosion or collapse of an insured boiler or pressure vessel.
- Physical damage to the insured equipment and, where specifically included, surrounding property belonging to the insured.
- Reasonable dismantling, removal and re-erection costs directly connected with an insured loss, when provided by the wording or endorsement.
- Third-party property damage and bodily injury may be included only where expressly stated in the policy.
Main exclusions
- Wear and tear, corrosion, erosion, scale, gradual deterioration and other progressive causes.
- Defects or conditions known to the insured before policy inception and not disclosed.
- Losses arising from testing beyond normal operating conditions, unless specifically agreed.
- Fire and allied perils, war, nuclear risks, wilful acts and consequential or financial loss unless specifically covered.
- Damage for which a manufacturer, supplier or repairer is contractually or legally responsible.