Boiler and Pressure Vessel Policy Document

SCOPE OF COVER

The Boiler policy covers three main areas:

Damage to boilers and pressure vessel;
Damage to insured’s surrounding property (where the sum insured is sufficient);
Third Party Liability.

The basic covers is limited to damage or liability solely due to sudden explosion or collapse (implosion) of those parts of the boiler (or vessel) which are under pressure.

INTEREST INSURED

Any vessels under steam or air pressure (e.g. steam boilers, economizers, calorifiers, air receivers’ cylinders, superheaters).

SUM INSURED

The sum insured under (1) should include an allowance for damage due to a major explosion to surrounding property as well as the replacement value of the boiler or vessel if the indemnity is to be complete. The replacement value should include freight, dues and customs duties and any additional cost of erection

EXTENSIONS AVAILABLE

Strike, Riot and Civil Commotion;
Overtime, Night Work and Express Freight.

DEDUCTIBLE

The policy is subject to a minimum amount of deductible.

Claims arising from boiler or pressure vessel explosion are often specially excluded from fire and Public Liability policies.
The Fire policy “Explosion Extension” does not cover the boiler pressure vessel itself.
In these instances where the Machinery Breakdown Policy is affected, boilers and pressure vessels can be and should preferably include in the Machinery Breakdown cover.
A pre-acceptance survey is usually required.

RATING

Refer to the company.

MINIMUM PREMIUM

RM150.00

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