Questions & Answers - Tank Easy
This quarter our Questions and Answers segment discusses the Tank Easy Environmental and Tank Protection Program.
Why is Hart & Iliff transitioning its customers from ProGuard to Tank Easy?
The most important reason is a number of changes ProGuard made to the contractual liability policy and service agreement rider effective on June 1, 2008. One of these changes is the addition of a broad 10-day cancellation provision that we find to be unacceptable.
Does Tank Easy include the same coverage limits as ProGuard?
Yes, Tank Easy provides $100,000 of environmental cleanup coverage in the event of a sudden or accidental release. Tank Easy’s Service Agreement is noncanceleable and is the first tank protection program to include annual monitoring of your tank.
How do I qualify for Tank Easy?
Your tank must be tested and found to be free of leaks. For underground tanks, this testing is done by taking soil samples from underneath your tank. If your tank passes the test, you qualify for coverage with Tank Easy. If it fails the test, we recommend that your tank be replaced. If you are currently in ProGuard, this replacement should occur before the expiration of your coverage.
Are there other advantages to Tank Easy?
Since all tanks are tested prior to entry into the program, the number of claims should be much lower, which will keep premiums down and ensure the solvency of the program. In addition, Tank Easy includes annual testing of your tank, so leaks should be detected in their early stages, before there is a substantial claim. The other features of the Tank Easy Program are as follows:
- Voluntary tank upgrade at any time.
- No voluntary pull fee.
- 50% lower deductible in the event of a leak following a voluntary pull.
- $2,000 tank replacement allowance.
- Greater access to homeowners insurance products.
- Fully transferable warranty. environmental consultants.
- Access to a personal database of annual sampling results.
What are the costs of the Tank Easy program?
There is a one-time charge of $242 for the initial onsite screening. The annual premium is $225, which includes yearly retesting.
If I decide to replace my underground tank with an aboveground tank, are funds available from the State Underground Storage Tank (UST) Fund to help pay the costs?
Yes, see the article that explains how to qualify for a grant from the State UST Fund.
Is Tank Easy also available for aboveground tanks?
Yes, the cost of this coverage is $99 for the initial screening and a $95 annual premium. Periodic screening is included in the annual premium. If you have questions regarding the Tank Easy program, call us at 973-383-1421.
