The Why, What, and How of Petrol Station Insurance

Let’s face it: there is a lot that can go wrong at a petrol station. That is why it is extremely important to protect yourself and your petrol station with a comprehensive insurance policy. Here are just some of the examples of the kinds of accidents that could turn into a legal or financial disaster without insurance:

  • A fuel leak or spill could occur and cause a fire hazard that might result in injury or death to an employee or customer or extensive damage to property.
  • Contaminated fuel could damage customers’ cars–even if the problem is discovered quickly, it could affect multiple cars before it is addressed.
  • The number of cars driving in close proximity around the pumps means that collisions are bound to happen occasionally, which could cause injury, damage to cars, or even damage to the station itself.
  • Both employees and customers handle hazardous chemicals at petrol stations, which means there is a risk of injury from these chemicals being handled improperly.

What Kind of Insurance Does a Petrol Station Need?

There are many different kinds of insurance that could benefit a petrol station. Here are a few of the most important types:

General Liability Insurance
General liability insurance can cover many of the risks involved with running a petrol station.
It typically insures a business in case of bodily injury to a customer or employee or damage to a customer’s or employee’s property that occurs at the business. Whether or not the business is directly at fault, it could still be held liable for personal injury or property damage if the incident happened on the business’s premises. This type of insurance is important for any type of business to have.

Property Insurance
Property insurance covers damages incurred by the business’s property. Petrol stations operate expensive pumps and sometimes other equipment as well that could be expensive to replace. Property insurance can prevent a simple accident like a customer driving off from the pump with the nozzle still attached to their car from costing the business money for repairs.

Data Breach Insurance
Data breach insurance is a more specific type of policy that protects a business if a customer’s payment information is stolen by a third party due to a data breach. Though this type of insurance might sound more fitting for a tech company or online retailer, petrol stations can benefit from it as well because self-pay petrol pumps are sometimes a target for card skimmers that can steal customers’ information.

How to Insure a Petrol Station
These kinds of insurance and more can be purchased directly from insurers, but petrol stations involve higher risks than most businesses and it is generally a better idea to enlist the aid of a broker.

If you are a petrol station owner seeking insurance, ServoPro’s partner for insurance, Chris Yates at National Insurance Services can provide a wealth of information regarding petrol station insurance and help match you with the right policy for your situation. Chris has been working in the insurance industry for nearly 20 years and is committed to providing trustworthy, client-focused insurance services.

For a free consultation with Chris, get in contact with us.