Mainstream properties provide pollution insurance opportunities
By Amanda Duncan, President, PartnerOne Environmental
Travel around any city – big or small – and you inevitably pass by a variety of commercial, industrial, and retail properties. For instance, there are over 17,000 car dealerships throughout the USA. Over 50,000 self storage facility buildings. 100,000 plus shopping centers. 5,000,000 apartment/condo buildings! These are just a few examples of facilities we all see on a typical day in the life of an environmental insurance carrier. Guess what they all have in common? Pollution exposures. Just this illustration alone suggests over 5 million possible account opportunities in which an insured should consider purchasing a Site Pollution policy. Let’s take a look at the many exposures that could affect these examples, as well as apply to the countless other properties we all pass by on a daily basis.
Most auto dealerships have the ability to service and fuel vehicles. This means there is most likely a storage tank or some type of container that holds fuel at these locations. In addition, many of these facilities provide service and repair work, therefore hydraulic lifts, oil, and grease are present. Spills, leaks, and stormwater runoff are daily occurrences. Similar conditions can also exist at auto parts stores, oil changing stations, as well as full service car washes. Read the rest of the article.
Coverage for Storage Tanks & Alternative Fuel Storage
Having the right storage tank coverage should always be a priority for any property owner or manager working with a site that has tanks on it. And if the storage tanks are used for fuel sales or are used to store regulated substances, proper coverage is required to be in place. Complying with financial responsibility requirements doesn’t have to be hard. The good news is that this type of insurance is affordable and easy to secure. Learn more.
Recent Success Stories
- $1.25M Asbestos abatement contractor purchased GL/CPL/E&O ($1M/$2M) for $8,400.
- $2.7M contractor specializing in vacuum truck services purchased GL/CPL ($1M/$2M) for $14,433.
- Fuel distributor with two locations and 13 tanks purchased commercial tank and Site Pollution coverage ($2/2M for tanks, $2/2M EIL, and $1/1M for defense) for a total of $21,000.
- A cosmetics manufacturer purchased a $1M/$1M Site Pollution policy for $5,200.
- $500k Asbestos/mold abatement contractor purchased a $1M/$2M GL/CPL/E&O policy for $5,230.