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There are coverage's that are commonly parts of fuel oil dealers insurance solutions that are not parts of business insurance solutions. These coverage's include automatic fill endorsements, broadened pollution coverage, and lease gap coverage, which we offer.

Bio diesel and ethanol producers along with wind power and solar energy facilities need fuel insurance more than ever. With news of recent oil spill disasters and the vulnerability of our coasts, fuel and energy producers should take every step possible to protect not only the company, but also the environment.

  • Unpredictable weather stemming from hurricanes, floods, tornadoes or earthquakes can disrupt and damage fuel plants.
  • Operational hazards including equipment breakdown or even upgrades can be disruptive to service, ultimately disturbing your bottom line.
  • Environmental issues such as indigenous wildlife migration patterns or population explosion can be disruptive to business.
  • The risk of employee injuries is greater in an energy plant compared with working in an office.

Although it may be clear why you need petroleum insurance, understanding the numerous liability aspects is important to designing coverage that is right for you.

What Kind Of Petroleum Insurance Is Necessary?

General petroleum insurance coverage is mandatory for all gas, oil and energy companies. However, many producers add coverage to protect themselves against other potential problems:

  • Property damage due to both natural and man-made disasters.
  • Equipment failure and breakdown: replacement parts can run in the thousands if not millions of dollars, in addition to running the risk that equipment failure could have a larger, more catastrophic impact.
  • Business disruption: how do you recover revenue lost due to property damage or equipment failure?
  • Workers’ compensation: the energy business is risky, so providing coverage for your employees is a necessity.
  • Liability: if someone on your property is injured you could be open to a lawsuit if you don’t carry liability insurance.
  • Business auto: coverage for company cars or personal vehicle use while on company business.
  • Umbrella: a policy to protect your company when claims exceed standard policy limits.
  • Pollution: imperative for all fuel/energy companies – from fuel spills to gas emissions, coverage is vital to recovering from pollutant disasters.

All energy producers may not require every aspect of coverage – only an experienced petroleum insurance agent knows the difference.