Protect Yourself in an Unstable Economy

In recent months, we’ve all heard the experts reporting on the increasing instability of our economy. With fluctuating energy costs and a tough housing market, many of us involved in the sale of oil would like nothing better than to bury our heads in the sand, metaphorically speaking, and wait until the trials and tribulations finally pass us by. However, most of us recognize that this option will neither better the situation nor protect our companies’ assets from further downfall and ultimate devastation. There HAS to be a way to protect customers and still make sure that we, as oil providers, maintain our companies’ longevity, right? Two words provide the best solution: NEW PRODUCTS.
Let’s think new-age for a minute. I mean, we have recently entered a new decade and need to keep up with the changing times. Residential heating oil customers need to be protected against the economic and ecological hardships that could come with replacing a leaking oil tank. This potential concern can be compounded exponentially if the oil tank is buried beneath the ground. Oftentimes, a consumer will not even know that a tank has been leaking until they receive their first oil delivery of the fall/winter season. Instead of your delivery of oil lasting them a month or more, the tank’s contents are drained in a matter of days. It is only after this sequence of events that a red flag is raised and the problem is finally addressed. It’s often too late. Costs can soar and hassles begin. The releases are sometimes covered by homeowners insurance for third-party liability issues related to the release of oil (e.g. leaks below groundwater level or onto a neighbor’s property), but are seldom to never covered for actual first-party clean-up or tank replacement. Enter the ProGuard Program.
Established in 1999 and going strong with over 60,000 residential oil heat customers in the Northeast, ProGuard is a clean-up and protection plan designed exclusively for residential oil storage tanks. ProGuard helps to defray the costs associated with a release of oil, should one ever occur on a participating customer’s property. To date, ProGuard has handled upwards of 12,000 claims and has paid out close to $50 million. The program offers an oilheat customer up to $100,000 for first-party clean-up costs of an underground tank release, or up to $50,000 for an aboveground tank release. It also provides up to $1,500 for the installation of a new oil tank. Cost to the consumer to hold an annual Service Agreement for this program is roughly $275 for an underground tank, $35 for an aboveground tank. At the first sign of a release, the client simply calls ProGuard’s claims hotline and the wheels are set in motion. A contractor is dispatched to handle remediation of the soils and to restore the site. Call 888-354-0677 and check it out today!

Aboveground Heating Oil Tanks Are Not Exempt from Leaks

As much as 500 gallons of home heating oil spilled from a ruptured tank at Union St. last week, and firefighters and a cleaning crew were on the scene for several days trying to contain its spread.

Nantucket deputy fire chief Ed Maxwell said neighbors reported the smell of fuel last Tuesday night, and responders discovered a “giant puddle” of home-heating oil pooled beneath the deck and crawlspace of the home.  Maxwell said the free-standing fuel tank on the side of the home failed, but he was unsure precisely what caused the release of the oil.

“It was an older tank, and there is rust,” Maxwell said. “I don’t know what made it leak through, if it was ice or it just rusted through.”

The state Department of Environmental Protection is now monitoring the clean-up effort at the vacant home, and a vacuum truck has removed numerous 55-gallon drums of water and oil from beneath the home.  Maxwell estimated that 250 to 500 gallons of home heating oil had poured into the ground.

The property is located roughly 500 feet from Nantucket harbor.

“It’s not a little one, that’s for sure,” Maxwell said. “We did follow it down through the storm system, and we’ve taken precautions, but as of now, we haven’t had any infiltration into the wetland or harbor that we can tell.”

– The Inquirer and Mirror, News Date 1/28/10

Better Understand Your Oil Tank

A heating oil storage tank offers an important advantage to a homeowner – the ability to safely store an adequate supply of heating oil that’s ready for immediate use whenever cold weather arrives or a need to heat the home arises.

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Understanding the Impact of an Oil Tank Leak

Oil is one of the most common fuels for residential heating systems. When used in a good quality and well maintained burner, oil can be a very clean, relatively efficient, and a cost effective method to heat our homes. The most common way to store and deliver the fuel oil to the furnace or boiler is by the use of an underground storage tank and a set of pipes which lead from the tank to the burner. These underground tanks and pipes are the cause of a great deal of concern, and the subject of misinformation and confusion.

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Oil Tank Insurance Saves Homeowner Over $50,000

(Making Bread Magazine) – Anyone who’s ever bought a house knows the money jitters that can set in before the moving van guys have even finished unloading—the sense that you’re a heartbeat away from debtors’ prison.

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Oil Tank Insurance

(Avalon Agency) – Is my underground oil tank insured under my homeowner’s insurance? The answer is, maybe it is and maybe it isn’t! Most likely, it isn’t.

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Proactive Oil Tank Replacement

ProGuard, the nation’s premier storage tank protection solution, is now offering proactive tank replacement protection in addition to environmental cleanup protection for aboveground oil tanks. For more information visit the ProGuard website.


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