Comfort Line - Questions and Answers

This quarter, our questions and answers segment discusses recent changes to our Environmental and Tank Protection Program, which is now called ProGuard.

Why are you changing the name of the program?

Hart & Iliff has offered Environmental and Tank Protection Coverage for underground and aboveground oil tanks since 1994. Although we have had three different insurance carriers, we have consistently called the program Homesafe. Our most recent carrier cancelled the program effective February 10, 2003. Fortunately, we were able to find a fourth insurance carrier to continue the program. The new carrier requires that we use the name ProGuard.

Are there any advantages to ProGuard?

Yes. ProGuard has the following advantages when compared to Homesafe:

1. The tank replacement limit increases from $1,500 to $2,000.
2. It contains third party and ground water coverage.
3. It covers up to $1,000 for the removal of structures to access a remediation site.
4. It pays up to $1,000 to replace trees or shrubs at a site.
5. For aboveground tanks, the annual premium for ProGuard is $85 compared to $105 for Homesafe.

Are there any disadvantages to ProGuard?

Yes. The annual premium for underground tanks will increase from $134 to $165. In addition, if you are contemplating voluntarily removing or pulling your existing tank and replacing it, there are several disadvantages. Participants in the ProGuard program will have to wait one year to obtain coverage in the event of a voluntary pull. In addition, while the deductible for both ProGuard and Homesafe is $500, ProGuard’s deductible in the case of a voluntary pull is $2,500.

What are ProGuard’s coverage limits?

ProGuard offers $100,000 in environmental cleanup coverage and $2,000 in tank replacement coverage in the event of a release from your heating oil tank or the associated piping.

How do I enroll in ProGuard?

If you are currently a participant in our Homesafe program, you will automatically be enrolled in ProGuard when your current Homesafe warranty expires.

If you are not a participant in Homesafe and would like to enroll in ProGuard, a site inspection and a tank test are required. Call us for more details at 973-383-1421.