As a fuel distributor, you are responsible for selling and delivering various types of fuel, such as gasoline, propane and kerosene. You sell these fuels to various commercial establishments and homes and you are responsible for getting them to your customers in a safe and timely manner. Unfortunately, being a fuel dealer does not come without risks. If something goes wrong, it can result in immensely costly damages so it is vital that you properly protect your business. This is where fuel distributor insurance comes in.
Property Damage Coverage
When purchasing fuel distributor insurance, it is very important that you have property damage coverage as part of your plan. The first part of this is obtaining building coverage for the building that houses your business. Building coverage helps insure you in case of structural damage. You also need contents coverage. This covers the property that you keep in your building, such as office furniture, computers, and décor. You may also need auto insurance for company vehicles and inland marine insurance for your fuel while it is in transit.
As a fuel distributor, you will also need good liability insurance. There is the potential for costly liability lawsuits that can easily sink your business without the proper protection. Some types of liability insurance to consider include:
- Auto liability
- Pollution liability
- Umbrella liability
It is not always easy to run a fuel distribution business. Having the right insurance policy can make all the difference.