Final answer:
The false statement is that damage to the boiler itself is excluded under the boiler policy; in fact, boiler insurance typically does cover the boiler and associated machinery for perils like explosion and breakdown.
Step-by-step explanation:
The statement that is FALSE among the options provided is: d) Damage to the boiler itself is excluded under the boiler policy. Boiler and machinery insurance, often known as equipment breakdown insurance, commonly covers the boiler itself as well as other machinery against the perils of breakdown, explosion, and other issues that might lead to business interruption. Boiler insurance specifically is designed to cover the boiler and, typically, the associated machinery.
An explosion or rupture is indeed one of the main risks affecting boilers and pressure vessels. The chief peril to which machinery is subject is certainly a breakdown, which can lead to costly repairs and replacement. Additionally, business interruption insurance is available for losses that are resultant from covered equipment breakdowns, including those of boilers and machinery, to help a business cover lost income and other expenses during the repair or replacement period.