Beacon

This policy will cover

• Damage to steam generating boiler itself arising out of its explosion / implosion
• Damage to surrounding property of insured caused by flying debris of exploded boiler.
• Third party liability arising out of explosion- damage to property owned by third party or personal injury to third party.

 Major Exclusions

• Loss damage and/or liability caused by or arising from or in consequences, directly or indirectly of fire
• Accident loss damage and/or liability resulting from overload experiments or tests requiring the imposition of abnormal conditions
• Gradually developing flows, defects, cracks or partial fractures in any part not necessitating immediate stoppage although at some future time repair or renewal of the parts affected may be necessary
• Loss or damage for which the manufacturer or supplier or repairer of the property is responsible either by law or under contracts.

Sum insured

 It is the requirement of this policy that sum insured of each machine insured should be equal to its replacement value of similar capacity new machine. If machine is not insured for its replacement value, under insurance condition will apply & claim will get reduced.

Excess:  5% of claim amount subject to minimum of Rs. 10,000/–