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Oil Damage

Avoiding costly clean-up inside and outside your home

If your oil tank leaks, your home and property can be seriously damaged. Get the protection you need.

Aboveground oil tanks are susceptible to corrosion and rust, which can give rise to oil fuel leaks. Leaks can cause extensive damage, such as a fire, or create environmental hazards such as groundwater contamination. Oil damage can also be costly since you may have to decontaminate soil on your property.

Here’s how the coverage works.

If you have an oil tank on your premises, your home insurance policy does not cover oil damage. That’s why it’s a wise choice to get this coverage. Here’s what’s included in our new endorsement:
  • Coverage for loss or damage caused to your property by the sudden and accidental overflow or escape of fuel oil from a tank or apparatus or supply pipes connected to a heating system in use.
  • Cost of cleaning and decontamination or remediation of your premises.
  • Up to $25,000 for trees, shrubs and plants, subject to a maximum of $1,000 per item, including debris removal for any one tree, shrub or plant which is part of the landscaping of your premises.
  • You are not covered if you have loss or damage caused by repeated escape or overflow of fuel oil, or the damage occurs while the building is under construction or vacant.

Who’s eligible?

  • You must have a home insurance policy with us and satisfy its conditions.
  • This coverage is available on our homeowner/tenant/condo policies: Platinum Plus, Platinum, Gold, Silver, and Bronze.
  • You have an aboveground exterior tank which is less than 14 years old or an interior tank which is less than 19 years old. If your tank is near our designated age limit, you may be asked to replace it.
  • Your tank is in perfect working condition; this means there are no signs of leakage or spills, no evident fumes or odours.
  • Your tank is inspected/serviced annually by a certified or licensed heating contractor.
  • Your tank is located on a non-combustible, level support.
  • For exterior installations both your tank and fuel supply line are protected from vehicle impact.
  • You reside in Canada.

In case of discrepancy between the information provided on this website and your insurance policy, your insurance policy prevails. Remember, the exclusions and limitations specified in your policy apply in all circumstances.

For more information, call 1-888-791-5346.

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