Oil Tank Safety Written by Laurie Chambers on 1/12/2018 12:17 PM in Oil tank safety, avoid home-oil spills, insurance, claim. It has 2 Comments. Oil Tank Safety: Information worth knowing. Do you heat your house with oil? Then you know there is a risk of costly property and environmental damage due to leaks or spills - which is why it is a factor in determining your home insurance premium. This is especially significant for oil-heated homes adjacent to water, where the environmental impact increases exponentially. Living within the Kawartha Lakes, we have a higher percentage of these types of homes and in keeping our homes protected, we in turn keep our beautiful environment protected. Location is Key Indoor oil-tanks simply fair better than outdoor tanks as they are not exposed to extreme temperatures, which cause water to build up inside the tank and promote corrosion. Due to this, Indoor tanks last longer, and if ever a leak were to happen, there is a greater likelihood that the odor released will be detected early on, avoiding more serious spills. Trust the experts Have your tank installed by a registered contractor. Contact your heating oil provider for more information and to request regular inspections. Make sure your tank is ULC or UL-approved, whether your tank is made of steel or fiberglass, do not settle for anything less. When replacing your old tank, the remaining oil should never be transferred to your new tank. Contaminants from the old tank will be transferred to the new, possibly causing corrosion to happen faster in the new tank. The fuel line should have a protective cover to reduce the risk of leaks. If your oil tank is outside, protect the line from the weight of snow, ice or other objects that could cause damage, and rupture the line. Install the fuel line on a downward slope from the tank to the building to prevent the accumulation of water an possible freezing of the line. If you ever suspect a leak, call your oil service provider immediately, and then call us (or your broker) to begin the claim process. As average clean-up costs can range from $250,000 to $500,000 it is imperative to make sure you are covered correctly. If you have questions, we have answers - call us and let's talk about your insurance.