Home Buying in 07079>Question Details

Mrmarkbooker, Home Buyer in Netcong, NJ

what insurance companies issue polices against oil tank leaks?

Asked by Mrmarkbooker, Netcong, NJ Sun Nov 18, 2012

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Answers

9
Talk to an agent at Weichert, Insurance. We have a couple of companies that can get it done for you.
0 votes Thank Flag Link Tue Dec 18, 2012
You've got your answer, call the company that supplies your oil.

If you are considering a property with an oil tank under the ground, keep the issue on the seller side.

Best,
Jeanne Feenick
Unwavering Commitment to Service, Unsurpassed Results
Web Reference: http://www.FeenickHomes.com
0 votes Thank Flag Link Sat Dec 8, 2012
If you are unfortunate enough to still have an oil tank in the ground the first place you should go to is your oil provider who is probably requiring you to carry an insurance policy with them covering leaks and/or removal.
0 votes Thank Flag Link Fri Dec 7, 2012
yep Thru your oil delivery company and must be tested 1st.

there are removal companies now that will guarantee a flat fee for removal even if there is a spill.
0 votes Thank Flag Link Mon Nov 19, 2012
You might call your oil delivery company and ask if it is possible to insurance the tank against leaks through them. Of course the best solution is to remove the tank from the ground and place it in the basement, or outside and above ground.
In any case, good luck!
http://jonathancitron.yourkwagent.com
0 votes Thank Flag Link Sun Nov 18, 2012
Very few Insurance Companies issue these policies.
The only place I know where you can get an underground tank insured is through your Oil Company.

You see, they want to keep your business, so they have insurance available.

You will be required to pay for a tank test prior to the policy being issued.

Your best course of action.......REMOVE THE TANK.

No one wants to buy a home and take on the responsibility of a problem that may range well over $100,000, in the worse case situations.
0 votes Thank Flag Link Sun Nov 18, 2012
Hi
Pro Guard is the only oil tank insurance company that I am aware of at this time though there may be others. And yes the policy is obtainable thru an oil dealer. The cost of coverage annually is rather reasonable but requires testing prior to issuing. As with any insurance policy it is best to fully understand the coverage offered to you.
Best Regards
Maria
0 votes Thank Flag Link Sun Nov 18, 2012
Yes, your best option would be to remove the tank, and replace it with an above ground oil tank, to limit future problems.

I hope this answered your question! If you have any further questions, please feel free to contact me by the ways below.

Wishing you all the best,

De Vonte Williamson , LSA
Proudly Serving Long Island
Coldwell Banker Residential
(631)384-3695
http://cbmoves.com/DeVonte.Williamson
http://devontesellsny.wordpress.com/
DeVonte.Williamson@cbmoves.com
"I Stand Behind Getting You Results!
0 votes Thank Flag Link Sun Nov 18, 2012
Very few Insurance Companies issue these policies.
The only place I know where you can get an underground tank insured is through your Oil Company.

You see, they want to keep your business, so they have insurance available.

You will be required to pay for a tank test prior to the policy being issued.

Your best course of action.......REMOVE THE TANK.

No one wants to buy a home and take on the responsibility of a problem that may range well over $100,000, in the worse case situations.
0 votes Thank Flag Link Sun Nov 18, 2012
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