In an industrial plant there are two dangerous professions: manufacturing and construction. In these professions there are a lot of risks. To manage these risks some times becomes difficult to the industry owner. So they purchase industrial plant insurance. There are various risks in the industry like the quality field help is harder to find, the cost of doing business and the typical accident encountered in the factory. Workers’ injury insurance rates threatened to the owner of industry. There would be a need for new technology and the latest products. These product service charges are very high and there will be a fear for causing with fire. The insurance company helps for life loss in the Industrial Plant, Surviving or investigating and Industrial Fire Protection.

The insurance company help the company as the things go more smoothly by working closely with them to reduce premiums and provide a reliable network of approved doctors and field foremen that can access anywhere during regular work hours. As the insurance company plan, the field foreman and the doctors relay at nearest place from the industry. When they are called by a phone, they represent them within five minutes the call made.

Some insurance company provides a foreman as regular basis so that they make safe environment always. The industrial plant insurance company provides several policies. Those are:

1. Boiler and Pressure Plant Policy: In this policy they cover boiler like tube boiler, recovery boiler and unfired pressure steam pipes. They fulfill when certain loss occurred like damage to the boiler vessel, damage of surrounding property near the boiler and payment for death or injury of worker. They don’t pay for fire related losses, failure of individual tubes and loss or damage for which the manufacture is responsible.

2. Electronic Equipment Policy: This policy covers the electronic equipment damage or loss like electronic computer, microprocessor, auto visual equipment and other electronic products. The company also pays for uncertain or sudden physical loss from fire and short circuit. The company does not pay for existing fault, damage to exchangeable parts, intrinsic value programming error and expenses due to non availability of funds.

3. Machinery Breakdown Policy: This policy covers various types of machinery, plant and equipment damage. The policy only covers insured machinery or plant. When ever these products are dismantled or re-erected it shows as same as any damage. It covers the damage of faulty operation, vibration and loosening of parts.

4. Industrial All Risk Policy: This policy covers all the risks through the industry. They can provide help of minimum sum of 100 crores. It covers fire, burglary, theft, machinery breakdown, boiler explosion and electronic equipment breakdown. It does not cover the loss of faulty design, interruption loss due to failure of gas, electricity or water supply and collapse of cracking building. The industrial all risk policy are too much costly. So the industrialist always uses other different policy according to their needs. They can also insure for different materials to which they think to be damaged or loss in the future.