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Great American Insurance Group
Storage Tank

The Claims-Made Storage Tank Policy provides coverage for bodily injury, property damage, corrective action costs and legal defense arising from insured tanks. This policy also satisfies the federal financial assurance requirements imposed on storage tank owners. This policy is intended for all storage tank owners including service stations, municipality locations, warehouses, water treatment centers, aviation hangars and many more. 

 

Maximum coverage

  • USD
    $1 million/$1 million or $1 million/$2 million Options also available to satisfy federal financial assurance requirements and insured’s needs

 

Minimum coverage

  • USD
    $3,000 (tanks under 26 years) / $7,000 (tanks over 26 years)

 

Inclusions

  • Service Stations
  • Municipality Locations
  • Warehousing Locations
  • Water Treatment Centers
  • Aviation Hangers
  • And others!

 

Double-walled or fiberglass tanks with leak detection are preferred

 

Policy Benefits:

  • • Tailored coverage including tanks exceeding 26+ years

  • • Financially strong paper – "A+" (Superior) rating from A.M. Best (rating affirmed 10/28/20)

  • • Dedicated environmental claims handling unit and nationwide network of emergency response firms, remediation contractors and environmental attorneys

  • • Ability to offer manuscript policy forms to meet specific client needs

  • • Ability to provide coverage for pollution conditions in excess of indemnities

Great American Strengths

“Exceptional service ”
“ Expert Underwriting staff ”
“ Collaborative and solutions oriented ”
“ In-house claims team of licensed attorneys specializing in contractor’s pollution liability claims handling ”
“ In-house Risk Engineering offering valued-added services to our insureds ”
“ 24/7 Emergency Response support program for all insureds ”
“ A.M. Best Rating of A or better for over 110 years (A+ affirmed 10/28/20) ”