Households urged to check home insurance policies for oil tanks following Storm Jocelyn
With the recent extreme temperature changes and the tenth storm of the season hitting the UK, homeowners are being urged to take the opportunity to check that their oil tanks are covered by their home insurance policies.
The advice comes as many homes across the country have been subject to storm damage and a recent report has revealed that storm damage was one of the top three home insurance claims for 2023.[1]
OFTEC, a registration body for off-gas grid heating technicians, is encouraging households to check with their insurers what level of cover they have for any damage to their oil tank.
Each year in the UK, around 3,000 oil spill pollution incidents occur which are reported to the environmental regulators, which can result in a clean-up bill of more than £20,000. Costs can quickly escalate if surface or groundwater is affected.
While most home insurance policies will cover the costs of replacing the lost oil and any damage caused to the fabric of your home following an oil spill from a domestic oil heating system, you may not be covered for the environmental investigation and clean-up costs you could face if your own land, or the surface or groundwater within it, is polluted.
Additionally, if the oil spill pollutes neighbouring land, water or property, the third-party liability cover provided by a home insurance policy often contains restrictions.
Malcolm Farrow, from OFTEC, said: “Household budgets are understandably tight in the current cost of living crisis but, when it comes to home insurance, ensuring you’ve got the right level of protection on your policy could save you thousands in the unlikely event of damage to your oil tank.
“Many of these incidents could be prevented by taking simple steps, such as ensuring that oil tank systems are installed according to regulations and checked regularly by an OFTEC registered technician to ensure that any defects or faulty equipment is dealt with promptly.”
You can find a local registered heating technician near you at www.oftec.org.
[1] https://www.insurancetimes.co.uk/news/storm-damage-among-top-three-claims-from-property-clients-lansdown/1450965.article