Home Insurance in 07857>Question Details

Wats63, Home Owner in 07857

Home Insurance in New Jersey that will cover underground oil tanks

Asked by Wats63, 07857 Mon Jan 30, 2012

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Wats63 their is noe HOI that will cover such. You can see if you can get a an existing Oil tank insurance policy ftransferred over to you uipon puirchase of a new home, but I don't believe it's possible to buy a policy for a home that currently has no coverage. Check with your oil provider if they know of any insurers writing new policies.
0 votes Thank Flag Link Tue Jan 31, 2012
Home owner's insurance does not cover underground oil tanks or any leaks, seepage, or ground contamination. You will have to purchase a separate policy to specifically cover the underground oil tank. Home owner's insurance usually covers ground water contamination in the event of a leak from an underground oil tank.

Additionally, if you purchase a home, you will have to show that the tank is not leaking and that there is no oil contamination anywhere near the underground oil tank before you can obtain both a home owner's insurance policy and an underground oil tank policy. (See http://www.atstrust.com/sn/home-buying-and-selling)
Web Reference: http://LewCorcoran.com
0 votes Thank Flag Link Tue Jan 31, 2012
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