Steam Boiler Insurance
Updated: 04 December 2024
What Does Steam Boiler Insurance Mean?
Steam boiler insurance provides coverage for losses resulting from damage to equipment such as boilers and furnaces. Businesses with these types of machinery purchase this insurance because such equipment is often excluded from standard commercial property policies.
It is also referred to as boiler and machinery insurance.
Insuranceopedia Explains Steam Boiler Insurance
Boilers, furnaces, and other machinery are often essential to businesses, and companies can incur significant losses if this equipment breaks down or malfunctions. However, many standard property policies do not cover such losses. As a result, many businesses opt for steam and boiler insurance to avoid bearing the full burden of these potential losses.
