Oil and other petroleum distributors are crucial to many industries. Because of their importance, these businesses also need to worry about getting the right insurance for their operations. Here are some details about what companies are eligible for petroleum distributor policies and what type of coverage is available.
In short, oil distributor insurance covers any company that works in the petroleum industry. This type of policy is primarily great for companies that wholesale or retail petroleum products, distribute home heating oil, sell bulk oil, distribute used oil, or retail or convenience stores that offer petroleum oil. Additionally, it can also cover propane distributors, petroleum terminals, and fuel stations with natural gas.
This type of insurance covers many different business aspects, making it the perfect option for a company that only wants one specialized policy. Generally, these policies will cover risks associated with vehicles, general liability, property, employment practices, employee benefits, equipment, crime, cyber risks, and workers’ compensation. Business owners can customize them based on their needs.
These policies are a great option for businesses that sell and distribute various petroleum products and related products. With a wide variety of coverage options, this specialized insurance is optimal for most businesses in the industry who are looking for a policy that meets all of their needs.