Insure oil tanks safely and reliably
Protect yourself against the financial consequences of oil damage with nextsure's oil tank liability insurance. Essential for every oil tank owner for comprehensive protection.
Comprehensive Protection
Quick regulation
Digitally manageable
Why oil tank liability insurance is indispensable
Statutory anchor of liability
High Costs in Environmental Damage
Protection against claims by third parties
Protecting Your Personal Assets
What specific damages are covered by oil tank liability insurance?
The oil tank liability insurance provides comprehensive protection against damage caused by your heating oil tank. Essentially, it covers personal injury, property damage, and financial losses to third parties resulting from soil or water contamination. Specifically, this means: in the event of an oil spill, the insurance covers the costs for necessary soil remediation measures and the cleaning of surface and groundwater, including actions mandated by authorities. Additionally, so-called rescue costs are insured - expenses incurred to avert or mitigate an immediate threat of damage. Furthermore, the costs for experts to assess the damage are covered. An important aspect is the defence against unjustified claims, if necessary, in court. Ensure the insurance includes gradual damage and clarify whether damage on your own property that affects third parties is covered. nextsure offers transparent policies for clearly defined services.
Tailored Protection
Our services for your oil tank safety
Environmental damage
Protection against contamination of soil and water.
Rescue costs
Coverage of necessary costs for immediate damage mitigation.
Surveyor costs
Reimbursement of costs for experts in the case of a claim.
Bad debt
Protection if the liable party cannot pay (subsidiary).
Gradualness
Cover for damages that develop slowly and unnoticed.
International Protection
Protection also for tanks abroad (optional component).
Above-ground tanks
Special protection for above-ground installed oil tanks.
Underground tanks
Comprehensive coverage for underground heating oil tanks.
Digital Policy
Simple online management of your insurance documents.
Discover how nextsure provides you with comprehensive digital protection.
Your oil tank optimally
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Target audience: Who needs oil tank liability insurance?
Every owner of an oil tank, regardless of its size or age, is required to have oil tank liability insurance, also known as water pollution liability insurance. This applies to both above-ground and underground tanks. It is particularly relevant for homeowners of single-family or multi-family houses that use oil for heating, as well as landlords who own properties with oil heating systems and are liable for damages. Although it is not explicitly required by law in all federal states, it is essential for every tank owner due to the high potential damage amounts stipulated under the Water Resources Act (WHG § 89, liability for risk). You are liable even without direct fault. Without insurance coverage, you would have to bear all the costs of soil remediation, groundwater purification, and third-party claims yourself. nextsure helps you find the necessary protection.
Costs and Factors: What Influences the Premium of Your Oil Tank Insurance?
The premium for your oil tank liability insurance is determined by various factors. Key factors include the size or capacity of the tank (larger tanks = higher risk, higher premium) and its construction type and location (underground tanks are often more expensive than above-ground ones). The age and condition of the tank also play a role. The chosen sum insured is crucial; it is recommended to have at least 3-5 million euros universally for personal injury, property, and financial losses, as remediation costs can be immense. Regional aspects like being situated in a water protection area can increase the premium. An agreed excess in the event of a claim can reduce the contribution. Carefully compare the scope of benefits and price. nextsure offers transparent rates and supports you in making the optimal choice.
Distinction: Differences from Private Liability and Home Insurance
It is a common misconception that personal liability or homeowners insurance covers damage caused by heating oil. Standard policies usually exclude these risks or provide insufficient coverage. Personal liability applies to negligently caused damage to third parties, but not to the strict liability for oil tanks under the Water Resources Act. Homeowners insurance covers damage to the insured building (e.g., fire, storm), but typically not environmental damage caused by oil or damage to third-party property. Damage to the building itself from oil is often only covered through additional policy elements. Oil tank liability insurance is a specialised insurance that fills this gap and covers the financial consequences of environmental damage caused by heating oil, including clean-up and recourse costs. It is therefore an indispensable addition for every oil tank owner.
Behaviour in an Emergency: How Do You React Correctly to an Oil Spill?
In the event of an oil spill, swift and correct action is crucial. Safety is the priority: stop the oil supply, prevent spreading, warn individuals, and ventilate the rooms. Immediately alert the fire brigade (112), especially if oil has entered the soil, sewerage, or waterways. At the same time, immediately inform your insurer (nextsure). Document the damage in detail (photos, videos, time, immediate measures). Do not attempt unauthorized cleaning or repair efforts without consulting the insurer. Follow instructions from emergency services and the insurer. Keep damaged parts for the assessor. Open communication with nextsure ensures quick settlement and remediation.
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Optimal coverage: Choosing the right insurance sum
The choice of the correct insurance sum (coverage amount) is critical for your oil tank liability insurance. An amount that is too low can be life-threatening in the event of damage, as remediation costs often reach millions. Experts recommend a flat coverage amount of at least 3 million euros, ideally 5 million euros or more, for personal, property, and financial damages. Consider the tank size, location (e.g., proximity to bodies of water, water protection areas), and potential impact of a leak. In water protection areas, costs are often higher. The sum must cover remediation, expert appraisals, legal prosecution, and third-party compensation. While a higher sum means a slightly higher premium, it provides essential financial protection. nextsure offers you individual advice on the appropriate coverage amount.
Your responsibilities: Maintenance and inspection of the oil tank for insurance coverage
As the operator of a heating oil tank, you are legally required to regularly maintain and inspect your system (AwSV, regional regulations). This is important for safety, environmental protection, and is relevant for your insurance coverage. The intervals and scope depend on the tank size, type (aboveground/underground), and location (water protection area). Aboveground tanks usually require inspection every 5 years, underground every 2.5 years by experts (more frequently in water protection areas). Self-checks (visual inspection, limit sensor) are also mandatory. Document all inspections and maintenance comprehensively. In the event of damage, the insurance will verify compliance with these obligations. Gross negligence could lead to a reduction or loss of benefits. Hire professional companies and secure your coverage.
Staying Flexible: Termination and Change of Oil Tank Liability Insurance
Terminating or switching your oil tank liability insurance demands attention to ensure continuous coverage. Ordinary termination is generally possible at the end of the term with three months' notice (see conditions); otherwise, it automatically renews. There is an extraordinary right to terminate, e.g., after a settled claim, a premium increase without an improvement in benefits, or when selling the property (special termination right for buyers). Important: Conclude a new contract before termination for a seamless transition. Compare not only premiums but also benefits (coverage amounts, gradual damage, remediation costs). The new contract should offer at least equivalent protection. Inform your new insurer about any previous damage. nextsure offers transparent support in comparison and switching.
Is an oil tank liability insurance legally required?
In the complex world of insurance, having a reliable partner is crucial, especially for specialist coverage like oil tank liability. nextsure is your digital companion, offering tailored and comprehensible solutions as your insurance portal. For your oil tank liability, we combine expert advice with digitalised completion processes. Get informed online, compare rates, and complete transparently. Thanks to our focus on niche products, we understand the specific risks associated with heating oil tanks and assist you in choosing the right sum insured and relevant inclusions (e.g. gradual damage). Benefit from easy digital policy management and quick claims settlement. Rely on nextsure for efficient and secure protection of your oil tank system.
