VRSA provides the broadest coverages tailored to meet the needs of our members and ease their worries. Our coverage is uniquely designed to protect member buildings, contents, and equipment, and return members to their pre-loss position as soon as possible.
VRSA’s Property Coverage is on a blanket basis, allowing coverage up to the full limit of the policy. This provides more protection than broad form, scheduled items policies that others provide. Subcoverages such as flood and earthquake limits are up to $100M.
Our Miscellaneous Equipment coverage protects construction equipment and tractors, as well as tools, various equipment, and fine arts.
Crime coverage protects from a loss of money and other negotiable securities due to acts such as theft or embezzlement by employees and volunteers.
Part of VRSA’s property coverage program is our boiler and machinery coverage, which provides protection for three types of claims.
Typical examples of boiler and pressure vessels include boilers of all types, fired water heaters, air tanks, steam chests, steam cookers, sterilizers, stills, refrigeration vessels, and piping.
- Property loss resulting from the explosion of a steam boiler. These boilers may be used to provide heat or hot water. Unlike your home’s hot water heater, commercial boilers are much larger and under higher pressure. While it is rare for them to explode, it does happen.
- Property loss due to a surge of electrical power. Damage to machinery caused by an electrical surge or electrical arcing is covered by this policy, subject to the deductible and the limits. If the same type of damage was due to another peril, such as lightning, then it would be covered under the property policy. However, damage from the source of an electrical surge or arcing is covered by the boiler & machinery policy.
- Damage due to mechanical breakdown. If a part of a machine breaks and causes additional damage to the machine, then this policy would cover that additional damage. This does not include general wear and tear damage. The coverage applies when there is an accidental and sudden breakage that causes the damage. This is why you will sometimes see boiler & machinery coverage referred to as mechanical breakdown coverage.
In addition, for those purchasing boiler and machinery coverage, VRSA provides for the required boiler machinery inspection based on the Code of Virginia requirements. These inspections are provided at no cost to the member by Hartford Steam Boiler, an established boiler and machinery-authorized inspection agency.
For more information on VRSA’s property coverage or any related property subcoverage, contact your coverage specialist at 800-963-6800.