For oil and gas contractors, there are two primary types of coverage for you to consider. These types of specialized oil insurance are off-shore and on-shore general liability coverage. Even though these two coverage types may overlap in some areas, there are certain distinctions that should be noted.
With an on-shore oil and gas insurance policy, you are covered for surveying, drilling and maintenance of your oil rigs and wells that are on dry land. On the other hand, an off-shore policy will ensure you are protected in all of your oil & Gas Operations that are based on the water. The location where you do your work determines the type of policy that you need. A friendly and knowledgeable broker at Toole Peet Insurance will be happy to explain the aspects of each policy type to you so you can make the most informed decision when purchasing your oil insurance.
Another type of coverage that oil and gas contractors often take into consideration for purchase is environmental coverage. Although this type of endorsement is not necessarily considered to be general, it will provide you with protection in the event that any of your oil and gas work results in an accident that causes environmental damage.