Protecting your home begins with assessing your risks as a homeowner. While some of these hazards will be obvious, like theft or damage caused by a natural disaster, there are going to be other threats that never cross your mind. Unfortunately, lesser-known issues like escaped liquid fuel can wreak serious havoc on your property. Learn how to best handle oil leaks by reviewing these precautionary steps.
Knowing Whether Your Insurance Covers Leaks
Though standard homeowners’ insurance covers a plethora of commonplace risks, leaks from an oil tank or similar containment unit are not typically part of the package. While policies do exist for this exposure, your first step should be to conduct an assessment to gauge the likelihood of a leak. If the chances are high, look into liability options that can protect you and your assets.
Learning the Damage Oil Leaks Can Cause
A leak can lead to some major complications for you, the people around you, and the environment as a whole. One of the biggest problems escaped liquid fuel can cause is contaminated groundwater. The leak can also negatively impact vegetation on your property, as well as any plants found on your neighbor’s property. Have your tank assessed by professionals to gain perspective on what steps you should take to avoid a leak.
There are plenty of concerns to remain mindful of when you own a home. As long as you give yourself the chance to understand unique risks like fuel leaks, you can cover all your bases and stay protected.