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Boiler and Pressure Vessel Insurance

Scope of Cover
The Boiler policy covers three main areas.

  1. Damage to boilers and pressure vessel
  2. Damage to insured’s surrounding property (where the Sum Insured is sufficient)
  3. 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
  1. Strike, Riot and Civil Commotion
  2. Overtime, Night Work and Express Freight
Deductible
The policy is subject to a minium amount of deductible

  1. 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.
  2. In these instances where the Machinery Breakdown Policy is effected, boilers and pressure vessels can be and should preferably included in the Machinery Breakdown cover.
  3. A pre-acceptance survey is usually required
Rating
Refer to the Company
Minimum Premium
RM150.00