When operating or owning a storage tank, it is important that the tank is maintained and checked routinely. If the tank is leaking or becomes damaged, the spilled gas or oil can contaminate the neighboring area. This could result in the storage tank owner being held liable for costly clean-ups and third-party damages. These situations are not covered by standard General Liability policies and require specific coverage.
Storage Tank Coverage through Burns & Wilcox builds on general liability policies to provide coverage specific to the unique environmental needs of operating or owning a storage tank. As a leading provider of excess and specialty insurance, Burns & Wilcox can provide intelligent insurance solutions to cover your clients from environmental exposures that may cause damage to their storage systems resulting in financial strain.
Coverage Details and Features
- Meets federal financial responsibility requirements
- 1st party cleanup and 3rd party BI/PD available
- Higher limits available for multiple locations
- Multiple location discount available
- Deductibles starting as low as $1,000
- State fund deductible buy-back limits available
- Business Interruption and Extra Expense – First party coverage for loss of income resulting from a covered release.
- Natural Resource Damages – Designed to return injured natural resources such as groundwater supplies to baseline conditions and compensate the public for the interim loss of injured resources stemming from a covered release.
- Convenience stores
- Colleges & universities
- Bus garages
- Private nursing facilities
- public utilities
- Construction companies
Ask an Expert
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