At a glance
- Who it’s for
- Fuel and petroleum tankers with higher federal limits.
- Coverage most gas hauler operators carry
Peculiar Concerns
Gas haulers have insurance concerns that are different from most haulers in that they are carrying substances that are pollutants, are highly toxic, and are flammable if not highly explosive. A collision that results in a ruptured tank can lead to liability in the tens of millions of dollars. The insurance needs of gas haulers are thus greater than is common.
Particular Recommend Coverages
In addition to the usual coverages that are required for all vehicles, the following coverages are further recommended fro gas haulers.
- Broadened Pollution Liability
Covers damages caused by accidental discharge of fuel, including gases, fumes, and vapors
- Erroneous Delivery of Liquid Products
Covers damages caused by delivery of the wrong fuel or delivery of the fuel to the incorrect receptacle or address
- Gasoline or Oil Contamination and Spoilage
Covers damage caused by contamination or bio-deterioration of fuel
- Umbrella insurance
Umbrella insurance provides coverage limits beyond what are provided by your primary coverage, and also provides coverage for occurrences that are not covered by your primary coverage. Note here the difference between excess insurance and umbrella insurance: excess insurance provides higher limits but only covers whatever is covered by your primary coverage; umbrella provides higher limits and broader coverage. As your primary insurance is likely to offer coverage under $10 million, and might have exclusions that limit coverage to certain occurrences, an umbrella policy that both broadens coverage and offers a limit in the tens of millions of dollars is recommended.
