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Gas Station Insurance in Massachusetts

What is Gas Station Insurance?

Operating a gas station requires significant investments of time and finances, and those resources should be protected when possible. Gas station insurance can help Massachusetts stations protect themselves from a variety of liability and property risks that they face.

Gas station insurance is specialized commercial insurance for gas stations and similar businesses. Because stations need protection against multiple risks, most of these policies come as package policies that have coverages bundled together. Station owners usually are able to select the exact combination of coverages that are in their policies.

What Massachusetts Businesses Are Gas Station Policies Right For?

Most Massachusetts businesses that sell gasoline, diesel and/or kerosene may benefit from the protections afforded by gas station policies. Traditional gas stations, truck stops and retailers with pumps might all want a policy.

Failing to carry adequate insurance can result in legal consequences and leave a station susceptible to liability lawsuits.

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What Coverages Are Available Through Gas Station Policies?

The protections that gas station policies provide largely are either property coverages or liability coverages. The former normally protects against damage or loss of assets, while the latter typically protects against potential lawsuits.

Some of the more common property coverages that a policy may have are:

  • Commercial Building Coverage, which might cover an owned building and secondary structures
  • Commercial Contents Coverage, which might cover equipment, inventory and supplies kept on site
  • Equipment Breakdown Coverage, which might cover pumps or other equipment that malfunctions
  • Spoilage Coverage, which might cover perishable food that goes bad during a covered disaster

Some of the liability coverages that a policy may offer include:

In addition to these, stations often also get cyber liability coverage, employment practices liability coverage and umbrella liability coverage. 

How Much Are Premiums for Gas Station Policies?

Premiums for gas station policies vary, as they’re based on a multitude of factors. A station’s location, number of storage tanks, product offerings and annual sales are merely a handful of details that can impact cost.

For a precise determination of policy cost, station owners can review quotes with an independent insurance agent. Independent agents have the flexibility to show several insurance companies’ policies, including the policies' premiums and protections.

Do Stations Need Gas Station Tank Insurance?

The Environmental Protection Agency (EPA) generally requires underground storage tanks to be insured with traditional policies or state funds. This stipulation often applies to schools, golf courses, airports, gas stations and many other businesses that have subterranean fuel storage tanks.

In the case of gas stations, purchasing gas station tank insurance coverage is the most common way to procure the necessary protection. The coverage is occasionally bought on its own, but the vast majority of stations get it through a broader gas station policy.

Because undergrounds storage tanks require specialized insurance, stations should work closely with an agent who knows gas station tank insurance when setting up a policy that has this coverage.

How Can Stations in Massachusetts Get Gas Station Insurance?

For help insuring a Massachusetts gas station, contact the independent insurance agents at Roger Butler Insurance. Our agents are able to recommend the best available gas station insurance policies, and we’ll work closely with you to find the right one for your business.

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