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Storage Tank Liability

Releases of pollutants from commercial storage tanks pose some of the most complex risks a business can face, often resulting in substantial financial repercussions.

Protection for storage tank system releases

Our storage tank liability program offers specialized coverage for third-party bodily injury and property damage resulting from pollutant releases from both underground and above-ground tanks. Additionally, the policy includes coverage for cleanup costs associated with any releases from a storage tank system.

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Coverage highlights

Check out our coverage highlights sheet for availability, target markets, policy features and more!

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All of your answers in one place!

Discover everything you need to know about our Storage Tank Liability program. From coverage details to claims processes, our comprehensive FAQs have you covered.

 

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Agent/broker resources

Get online quotes with our online portal, V²

  • Register or log in to V² to get started
  • Check out our V² Playbook for guidance on how to get a quote, and for information on registration, billing, FAQs, support and more. 

See it in action! Watch our recorded demo that provides guidance on how to get a quote using V².

Availability:

  • In all 50 states and D.C.

Limit:

  • Up to $5M

Minimum premium:

  • $500

Target market:

  • Service stations, independent fuel companies, bulk plants and farming
  • Construction companies, trucking companies and commercial tenants
  • Private airports, marinas and municipalities
  • Convenience stores, gas bars, auto dealerships, auto repair facilities, and car rental agencies
  • Multiple unit residential building owners.

Coverage:

  • Coverage available for single-location/single tank and multi-location/multi-storage tanks 
  • Storage tank systems –bodily injury or property damage
  • Storage tank systems – clean-up cost or corrective action
  • On-site clean-up 
  • First party clean-up for pollution incidents not related to a storage tank system (optional coverage part for eligible business classes)

Policy features:

  • Claims-made and reported policy form
  • Defense costs outside the limits of liability
  • Retroactive coverage
  • Deductibles up to $25,000 available
  • Coverage for storage tanks located in the U.S.

Service:

  • Fast and easy online payment portal available for agency billed policies 
  • Ability to get Financial Ability Form with issuance of policy
  • Ability to quote online with V²
     

Download Storage Tank Liability coverage highlights sheet

Gasoline contamination
Gasoline from a leaking underground storage tank contaminated a service station’s site and also migrated onto neighboring property and drinking water wells via the storm sewer.

Oil release
A trailer storing barrels of oil at a manufacturing facility flipped over when a support leg failed, resulting in a release of oil from the damaged barrels.

Fuel supply line broken by fallen ice
A release from an exterior above ground fuel tank occurred as a result of ice falling from an adjacent roof onto it and breaking the fuel supply line between the storage tank and boilers.

Equipment leak
A piece of machinery was moved from the shop floor at a manufacturing plant as part of a process line re-organization, at which point a leak was discovered emanating from the equipment into an unsealed trench pit.

Accidental discharge of diluted residual material
A manufacturer of industrial cleaning compounds experienced an accidental discharge of approximately 16,000 liters of diluted residual material from an on-site blending tank into a storm sewer and neighboring river.

Contact the Storage Tank Liability team directly at storagetank.us@victorinsurance.com or connect with your business development contact.

Policyholder resources

To get a quote, please submit a completed application through your existing insurance broker. Your insurance broker will then work with our underwriters to provide you with a quote.

If you need assistance in securing an insurance agent/broker, you can use our find an insurance agent/broker tool. 

Applications:

In the event of a claim, policyholders should report all pollution incidents to:

Aspen Specialty Insurance Management, Inc

T: 646-502-1000

F: 646-502-1020

E: environmental.claims@aspen-insurance.com

24/7 Emergency Response: 1-866-287-5146

 

A high-level overview of our coverage

Discover all of our Storage Tank Liability program's key benefits and coverage features here.

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