boiler and machinery insurance
Quick Summary
Boiler and machinery insurance is a specialized type of casualty insurance designed to cover risks associated with sudden explosions from equipment like steam boilers, compressors, and engines. A significant portion of its premium is allocated to inspection services rather than solely for loss protection. This policy often acts as an umbrella policy, providing coverage in excess of other applicable insurance to fill gaps in an insured's program. It specifically covers losses such as the machinery itself due to an accident, expediting expenses, property damage liability, bodily injury liability, business interruption, and consequential losses like spoilage of goods.1
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