Selecting Oil And Gas Insurance In Houston For Your Petroleum Company

by | Aug 16, 2013 | Insurance

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Oil and gas Insurance in Houston is a form of specialty insurance offered to commercial businesses. This form of insurance provides coverage for oil rigs whether they are inland or offshore. This coverage protects not only the workers who are employed by your oil and gas company but also the equipment used to perform your services. It eliminates the worry of possessing adequate coverage should an accident occur. After all, as an oil and gas company owner you already have vastly more important details to concern yourself with such as compliance with federal regulations.

Types of Oil and Gas Insurance Coverage:

Rigs and Equipment Insurance

Rigs and equipment insurance protects against liabilities associated with equipment required to service and drive your wells. It covers all vehicles used around or nearby your wells and oil rigs. All of your workers who perform tasks within this area are protected as well as the property that surrounds the rigs and wells. As an oil and gas company, this coverage will provide you with coverage for the property itself as well as any required removal and cleanup services. If you have any in-hole salvage costs, these expenses are covered through this policy.

Oil Lease Property Insurance

Oil lease property insurance provides coverage for any properties leased by your company used for oil drilling. It covers all equipment used within this area and projects a value for the property plus equipment in the event of damage or an oil spill. Crude oil is protected up to 10,000 barrels with most coverage options. However, the barrel amounts may vary among different policies. You may additionally add limited coverage for cleanup in the event of a spill to this policy.

Control of Well Insurance

Control of well insurance coverage is added to most policies to provide additional protection against liabilities associated with drilling incidents. This coverage is added to any specialty insurance of your choice. To learn more about this additional coverage option, you should contact your preferred insurance provider.

Metro Allied Insurance

Metro Allied Insurance provides oil and gas insurance coverage for petroleum and other related companies. The agents within this company can discuss your coverage options and determine which policies are most adequate for your commercial business. If you wish to receive a free quote, you may contact them locally or visit their website to request your quote.