HDFC ERGO General Insurance - Products - Engineering - Boiler and Pressure Plant Insurance

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boiler and pressure plant insurance

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The extreme temperatures and intense stresses in boiler and pressure plants demand the highest level of expertise and care. It's an environment where even the smallest mistake can result in equipment failure and significant replacement costs. HDFC ERGO General Insurance Company's Boiler and Pressure Plant Insurance helps cover any damage to your expensive plant and also minimises downtime loss for your organization.

Scope of Cover:

The Boiler and Pressure Plant policy covers boilers of various kinds, pressure plants and vessels under pressure, including fired and unfired, against loss and/or damage due to explosion or collapse.

Main Exclusions:

The policy does not cover loss or damage in respect of:
    Fire and allied perils.

    War and nuclear perils.

    Failure of individual tubes, unless such defects result in an explosion or collapse.

    Willful neglect and misconduct.

    Consequential loss.

    Loss for which the manufacturer or supplier or repairer is held responsible.

    Gradual wear and tear.

    Chemical reaction.

    Overload experiments.

Sum Insured:

The Sum Insured under this policy should represent the present-day replacement value, so as to avoid under-insurance.

Additional covers:

    Damage to the owner's existing surrounding property.

    Damage to third party property and/or personal injury.

    Express freight (excluding airfreight), overtime and holiday rates of wages.

    Airfreight.

    Additional customs duty.

    Escalation.

Premium:

This depends on the type of boiler, type of fuel used and the age of the equipment. The boiler should be certified by the boiler inspectorate, otherwise a 50% loading is applicable.

Excess:

This policy is not subject to any excess except for certain additional covers such as airfreight, additional customs duty & third party liability.

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For more information, please write to us at care@hdfcergo.com. You can also contact us on our Toll Free No. 1800-2-700-700.

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