Gas stations are among the backbones of America's transportation economy. We need them because we need to fill up our gas tanks, top off the air in our tires and maybe buy a few necessities for the road. So, if you own and operate a gas station, then you have a big opportunity for success.
However, any job related to the oil and gas industry is very volatile. Gasoline itself is a dangerous, sensitive material. You must protect your business and the assets associated with it. Let Exceed Insurance help you set up the commercial insurance package that works to your advantage, always.
Why You Need Coverage
Gas station insurance is an investment. It can help protect your business and better ensure your long-term commercial success.
Think about it this way. What if a sudden, damaging incident — such as a fire — damages the store? It could cause severe damage — not only for the business, but also for others. With the right insurance package, you can let your coverage provide financial support following the accidents that you least expect. The agents at Exceed Insurance can help you customize a policy to your benefit.
What We Offer
Exceed Insurance works with numerous insurers that offer diverse policy options for the business-conscious gas station owner. Our team will help you get unique policies that adequately cover your business while still offering affordable rates.
Some of the coverage options you might need are:
- Property Coverage: This insurance protects your building and your business' personal property (contents). Should you experience a damaging hazard, coverage can help you make repairs. Our property coverage helps fund repairs from pumps and canopies to fuel tanks and inventory.
- Business Income Coverage: An accident may mean you have to suspend operations. This could lead to a loss of profit and revenue. Business income coverage can help minimize such losses.
- Equipment Breakdown Insurance: Repairs for broken A/C systems, refrigeration or cooktops in your store can all be costly expenditures. This coverage helps fund repairs, so you don’t lose money fixing the problem.
- General Liability Coverage: Guests or other parties who suffer harm because of any company negligence may seek damages. Such challenges could arise from accidents as simple as a customer's fall on a wet floor. Your liability coverage can help the affected party pay for their losses, so that your bank accounts won't have to.
- Employment Practices Liability Insurance (EPLI): Employee allegations of discrimination, wrongful termination, harassment or other employment issues can lead to costly legal fees and settlements. This coverage can help alleviate the cost.
- Liquor Liability Coverage: Do you sell alcohol in your store? If you do, there's a chance that your sales could lead to buyers harming themselves or others. The harmed party might blame the store for the damage, because you supplied the alcohol. This coverage can help you settle damages associated with such claims.
- Commercial Crime Coverage: Theft is a real risk in gas stations, from both employees and customers. This coverage offers financial protection in these circumstances.
- Pollution Liability Insurance: Whether you experience a gasoline leak or some other event that can be classified as pollution, this coverage can help pay the associated expenses of cleanup.
- Workers Compensation Insurance: State laws require businesses to carry workers compensation insurance — not only to protect the business from lawsuits, but also to protect injured workers. Coverage will provide a supplementary income to employees injured on the job.
Frequently Asked Questions
Can I buy a BOP for my gas station?
In many cases, you can buy a business owners policy (also called a BOP), to get a lot of the coverage listed above. BOPs contain multiple types of commercial insurance in one package. You will only pay one premium for the coverage, and other perks can ensure cohesion among the different coverage.
Of course, because your gas station is unique, you might need to adjust your BOP itself, as well as buy other coverage. Our agents can help you determine the right policy structure.
When will gas station insurance cover my losses?
Gas station insurance will usually only cover losses caused by accidental, unpreventable or unavoidable hazards that strike the business. Damage that results from wear and tear, neglect and related occurrences might have no coverage. Policies might also exclude certain types of damage.
How much does gas station insurance cost?
Your premiums will vary based on numerous factors, such as: Your location, the business’ income, your history of insurance claims and the amount of coverage you buy. Our promise is that we will always help you find the most-affordable coverage for all your needs.
How do I get a gas station insurance supplemental application?
To get your coverage started, all you have to do is contact us. You can apply for coverage online, and we'll make sure you get coverage as quickly as possible. We will also provide all documentation — such as proof of coverage or workers compensation applications — necessary to meet coverage requirements.
A dedicated Exceed Insurance agent can help you build a gas station or convenience store insurance policy to best meet your needs. Contact us today to get started!