Why You Need to Insure Your Oil Tank

Getting a new oil tank? It could cost you as little as $65.

Did you know that as part of your Lamprey Energy annual preventive maintenance your fuel tank is inspected?

Here’s what happens: The technician checks the condition of the gauge, and the location of the tank, making sure that it’s at least 5ft from the burner and any other source of heat. Next he checks the state of the tank including its legs, pads, and foundation. Finally he gives the whole tank a visual inspection, looking for any evidence of corrosion, oil spills, or leaks, and making sure that any unused openings are properly plugged.

But did you also know that we offer a long-term tank replacement plan called the TankSure® Plan?
As well as the financial coverage, a TankSure® Plan gives you peace of mind because now your tank will be annually tested with an ultrasonic device that measures the thickness of the steel tank bottom. By comparing the current reading with the original manufactured thickness you can tell what shape the tank is in and get an early indication if it’s likely to need replacement.

The average life expectancy of an oil tank is 25 to 30 years. The average cost to replace a tank is $2,500. With a TankSure® Plan you’ll receive a replacement discount of either $1,000 or $2,500 depending on the level of coverage you choose. And the insurance will cost you just $65 per year for $2,500 coverage ($45 for $1,000). At $65 per year, it would take 38.5 years to pay out $2,500 but with the TanskSure® Plan you’re covered for the full amount—$2,500—from Day One of your insurance. You really can’t lose!

Want to know more? Give us a call at 603.964.6703.

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