In many homes throughout the Northeast of the United States, oil tanks provide heat to families. Oil tanks are built to last for decades and can hold anywhere from 250 to 1,000 gallons of oil, depending on the size of the tank. However, problems can occur with this type of heating system as age, and the elements take their toll on the body of the tank.
One of the common issues that arise with oil tanks is the formation of leaks. When a leak opens up along the body of a tank, petroleum oozes to the outside. Such leakage can inflict a range of harmful and damaging effects. Unfortunately, such damage is rarely covered under conventional homeowner's insurance policies. For coverage, you need to have an oil tank insurance policy.