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Boilers & Pressure vessels Insurance

Boiler and Pressure Vessels are naturally subjected to intense pressure. They can explode or collapse. This will often lead to the total loss of the equipment as well as its contents; damage to surrounding (owned) properties; liability for injuries (fatal or otherwise) to the person or damage the property of third parties. The explosion or collusion may be caused by:

  • Hidden and undetected weaknesses and flaws in workmanship and material;
  • The Human element
  • Overloading and failure of protective devices

All these causes and the consequences can be catered for under the Boiler and Pressure Vessels insurance. The following information will be used to write the risk;
  1. List of each item to be insured per location.
  2. Current replacement cost of each item
  3. Total replacement cost of items in the surrounding of the boiler and pressure vessels.
  4. Estimate litigation cost and award from third party following an explosion
  5. Total current replacement cost of other people’s property in the vicinity of boilers and pressure vessel.