Scope of cover
The inherent risk in boiler explosion is recognized by Government authorities who require every pressure plant and steam boiler to be inspected and certified annually for the safety of the working condition and efficiency of the safety devices installed therein under Boiler Act. However such inspection cannot detect and highlight hidden spots of trouble or inaccessible and latent defects and cannot also predict or prevent accidental failure of safety devices. As devastating damages can be brought by explosions, even in the best maintained installation, the need for a cover therefore arises.
Chola MS Boiler and Pressure Plant Insurance covers damage to boilers & pressure plant with damage to surrounding property and Third Party legal liability arising due to explosion and collapse of the boiler/ pressure plant during its normal course of working.
Physical loss or damage to boilers and/or other pressure plant against unforeseen and sudden physical loss of or damage due to explosion or collapse of the insured items.
- Express Freight, Holiday and overtime Rates of wages
- Air freight
- Owner Surrounding Property
- Additional Custom Duty