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, 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.
A private Storage Tank Liability policy can offer a range of limits, deductibles, and coverages. Once a release is confirmed, claims are typically paid as soon as the insured’s deductible has been met; making the insured’s out of pocket expenses much more manageable. First Party Clean up, Third Party Liability, and Defense are always quoted and optional coverages, such as Business Interruption, Waste Transportation, Non-Owned Disposal Site Coverage, and other enhancements can be offered where applicable.
Target risks may include:
- Auto/boat/recreational vehicle repair & maintenance facilities
- Gas stations
- Convenience stores
- Recreational vehicle dealerships
- Construction yards/sites
- Charging stations
- Agricultural risks with farm equipment
- Golf courses