Essential Insurance Coverages Every Gas Station Owner Needs

Owning a gas station involves managing numerous risks, including accidents, property damage and environmental hazards. To financially protect their investment and promote smooth operations, gas station owners need several essential insurance coverages.

Insurance for Gas Stations

Gas station owners should consider the following coverage options:

• General liability insurance can help cover costs associated with third-party claims for bodily injury, property damage and personal injury. For instance, if a customer’s car is damaged by falling debris on the premises, this insurance may help cover the repair expenses and any related legal fees.
• Property insurance can help cover the cost of damage to assets from events like fires, storms or vandalism. These assets can include buildings, fuel tanks, pumps and convenience stores. This coverage can help the business recover from unexpected damage.
• Workers’ compensation insurance can offer coverage for medical expenses and lost wages if an employee is injured on the job. Employees at gas stations face various risks, from handling hazardous materials to operating heavy machinery. This not only covers employees but also shields the business from potential lawsuits.
• Environmental liability insurance can help cover costs related to cleaning up pollution and addressing any third-party claims related to environmental damage. This can be essential for complying with environmental regulations and avoiding hefty fines.
• Business interruption insurance can offer compensation for lost income if a gas station needs to close for a period of time due to a covered event, such as a fire or weather-related incident. This can help the business maintain financial stability while recovering from the interruption.
• Commercial auto insurance is necessary for gas stations that offer delivery services or have a fleet of vehicles. It can help cover the cost of damage and liability arising from accidents involving business vehicles.

Learn More

For business insurance near you, contact INM Insurance Services, Inc.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.