Oil Tank Insurance
Protect yourself against major expenses caused by a defective oil tank. Most home insurance policies do not include oil tank insurance. Do not get stuck with exorbitant clean-up costs!
Residential Oil Tank Insurance in New Jersey
Most home insurance policies do not offer oil tank protection. Homeowner’s insurance policies will not cover the costs associated with a leaking heating oil tank when the environmental damage only impacts your property. This can be a serious issue, as a leaking oil tank will likely require a costly cleanup. However, separate oil tank insurance policies can provide coverage in these cases.
Don’t get stuck with exorbitant clean-up costs. The average cost for cleaning up environmental damage from a leaking heating oil tank is $8,000 and can well exceed $100,000 in some cases.
Oil Tank Coverage Plans
In order to protect yourself from the potential financial burden of a leaking heating oil tank, it’s important to have an oil tank coverage plan. Tank coverage plans are designed specifically to cover the costs associated with a leaking tank, including cleanup, environmental remediation, and liability.
One great option for homeowners looking for tank coverage is MyTankPlan. MyTankPlan offers comprehensive tank coverage with a low annual premium, keeping you covered for up to TWO million dollars in damages. With MyTankPlan, you can have peace of mind knowing that you’re protected in the event of a leaking tank.
In addition to comprehensive coverage, MyTankPlan customers receive a number of additional benefits. Each plan’s coverage includes emergency spill response, which means that if you do experience a leaking tank, a response team will be dispatched right away to help mitigate the damage and prevent further environmental harm. Free tank inspections are also offered to all MyTankPlan customers, which can help identify potential issues before they become costly problems.
How Do I Buy Oil Tank Insurance?
If you have an underground oil tank, you will need to submit NJ state certified lab results from the surrounding soil to obtain an underground oil tank policy. If you have not performed testing within the past 12 months, ATS can provide soil testing services to ensure no environmental issues are present and you can obtain your tank insurance policy. ATS offers non-invasive soil testing and has a team of field experts taking samples daily throughout New Jersey.
Once you have obtained your soil testing results, you can apply and pay for oil tank insurance online. MyTankPlan offers oil tank insurance policies throughout New Jersey, covering financial liabilities excluded from your homeowner’s insurance and providing expert services every step of the way.
Our oil tank insurance policies provide coverage of up to $100,000.00 in the event of an aboveground oil tank leak and up to $200,000.00 in the event of an underground oil tank leak. Plans start at just $75.00 per year! We process claims and offer customer service 24/7/365 and with our full range of oil tank services and expertise, we are the go-to oil tank insurance provider in New Jersey.
Signing up for oil tank insurance coverage is fast and easy. Your plan will even include the costs required to replace your tank if needed. Don’t take the financial risk – check out these affordable New Jersey oil tank insurance coverage policies!
NEED HELP GETTING OIL TANK INSURANCE COVERAGE?
What is the process for obtaining oil tank insurance?
ATS can provide the service and support you need to get oil tank insurance coverage from start to finish. We provide any testing required to obtain a tank insurance policy. Unlike a lot of companies, we are approved to test for the nation’s largest tank protection program which provides policies for more than 100,000 oil heat customers with underground and above ground oil tanks. Contact us for details about how to get up to $200,000 in cleanup protection. Do you have a septic tank? If so, septic tank protection policies are available as well.
What is tank insurance? Will it protect me in the event my oil tank leaks in the future?
Heating oil dealers offer tank insurance policies that will pay the property owner up to $200,000 in clean-up costs if there is a release of oil from the tank. We recommend that all our clients purchase tank insurance. As with any policy of this type, there are certain exclusions. Therefore, we recommend you contact your underwriter for more specifics about the terms and conditions.
The home I am buying has an active in-use underground tank and the owner has a valid oil tank insurance policy. Is it still necessary to perform tank inspections and test the oil tank for leaks?
Absolutely yes! Many realtors and attorneys advise home buyers that testing underground oil tanks is not necessary if the seller has tank insurance. However, many home buyers do not realize that they will expose themselves to increased risk of environmental liability by not testing oil tanks before their purchase. Read the exclusions! Tank insurance will only honor claims if there is a release of fuel from the tank, which is almost never the case with piping or top tank leaks. Also, there are typically deductibles required to be paid if a claim is submitted and the insurance adjuster can deny claims by simply claiming the leak existed prior to the date of the insurance policy.
Tank Testing Services
Underground Oil Tank Inspections
Comprehensive inspections for underground storage tanks, heating oil tanks and aboveground storage tanks.Find out more
Aboveground Oil Tank Testing
ATS Environmental understands the risks involved with an aboveground tank. It is vital to get your above ground tank tested to avoid an expensive clean up if the tank fails.Find out more
The most comprehensive soil testing method in the industry.Find out more
An undetected underground tank can cause serious damage to a property. Don't be caught unaware, let ATS locate your hidden tanks!Find out more