Buried Fuel Tanks - no insurance coverage
#1
Member
Thread Starter
Buried Fuel Tanks - no insurance coverage
I recently received my umbrella policy renewal. They have added an exclusion for "actual, alleged, or threatened" escape from above-ground or underground fuel tanks.
#2
Member
Skyrocketing prices and increased "risk" - no wonder people are running away from heating oil in droves.
(Gotta wonder if that's The Plan....?)
(Gotta wonder if that's The Plan....?)
#4
I'm sure it doesn't cover propane... I've never heard of an insurance company having to pay to clean up a propane spill... hmmmmmmmmmmmm... well, unless it resulted in a fire!
#5
My wife inherited a home in Levittown, PA and the oil supplier provided insurance on the buried tank as long as you bought oil from them. - You had no choice at that time and had to stick with the original supplier at the time or take the risk.
If you are familiar with that large planned community, every house got a buried oil tank and a willow tree in the period of 7 days from start to end of construction. Occupancy came a week or two later. Later, it became a huge liability for future owners, as all single shell tanks are.
there are conditioned that are created and you have to look out for the future possibilities.
Dick
If you are familiar with that large planned community, every house got a buried oil tank and a willow tree in the period of 7 days from start to end of construction. Occupancy came a week or two later. Later, it became a huge liability for future owners, as all single shell tanks are.
there are conditioned that are created and you have to look out for the future possibilities.
Dick
#6
Member
Our insurance company didn't give us really any issues with our oil tank. It is getting close to the required 10yr replacement mark (8yrs old now) and is stored in the basement.
That being said, a house here in town (small hick town really) recently had been condemned due to a leaking tank in their basement. I don't know much about that situation but I do know it was torn down and replaced due to leaking oil.
That being said, a house here in town (small hick town really) recently had been condemned due to a leaking tank in their basement. I don't know much about that situation but I do know it was torn down and replaced due to leaking oil.
#8
Member
Thread Starter
Our insurance company didn't give us really any issues with our oil tank.
OK, but does your insurance policy cover it (or exclude it), in the first place? If it's excluded, then I wouldn't expect them to peep. If it's not excluded now, expect it to be so soon.
OK, but does your insurance policy cover it (or exclude it), in the first place? If it's excluded, then I wouldn't expect them to peep. If it's not excluded now, expect it to be so soon.