Fuel Oil Dealer’s Insurance Edmonton

Why do I need Fuel Oil Dealer’s Insurance?

• Protection for property, tool, supply and equipment losses due to fire, vandalism, theft and more
• Protection for equipment breakdowns
• Protection for liability losses due to injury or third-party property damage
• Protection for errors and omissions
• Protection for loss of income due to business interruption and more
• Protection for automobile losses due to accidents and vandalism
• Protection for cyber losses due to data loss, credit card breach and other digital threats

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Fuel Oil Dealers face unique risks

As a Fuel Oil Dealer the risks you face are unique to you and your insurance should reflect that. Fuel Oil Dealer’s Insurance will provide coverage for anything from fire and theft to injury or environmental damage.

Property Exposures:

• If fuel oil is stored on premises, high fire and explosion concerns exist.
• If no storage is done on premises, then property exposures at the dealer’s own location usually consist of an office operation and material, equipment, and vehicle storage.
• If repair work on vehicles and equipment is done in the building, fire hazards may be high.
• If equipment and supplies are stored in the yard, there are higher exposures to wind, vandalism and theft.

Inland Marine Exposures:

• Inland marine exposure is from Goods in Transit. Fuel oil can be spilled and the shipment lost.

Occupiers’ Liability Exposures:

• Occupiers’ liability is normally not a high exposure as long as access to the premises is limited.
• If there is fuel storage on premises, then hazards of fire, smoke, fumes, and vapours may exist to neighbouring properties.
• The off-premises exposure occurs when fuel oil is spilled at the customer’s location or delivered to the wrong location.

Crime Exposure

• Crime exposure is from Employee Dishonesty. It is important to keep the duties of ordering, billing and disbursements in separate areas.
• Money and securities are a concern if cash payments are permitted in the office. On heavy payment days, deposits should be made frequently to prevent an accumulation.

Products Liability Exposures

• Products liability is limited but there is the potential for contaminated fuel that will damage the customer’s furnace.

Environmental Impairment Exposure

• Environmental impairment is high if there is on-premises storage. Leakage, seepage, and fire concerns are the keys to evaluating this exposure.
• Additional concerns centre on transit exposures and any spillage or leakage, should overturn or collision occur.

Automobile Exposures

• Automobile exposures can be high, from both physical damage to the vehicles and auto liability concerns.
• Collision and overturn can cause significant personal, property, and environmental losses.

Workplace Safety Exposures

• Workplace safety exposures occur in the filling of tanks and trucks, and the transport of the fuels.
• Many losses will be auto or transit related.
• Other concerns may develop from the repair and maintenance of vehicles, if this is carried out by the operation itself.

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