EnergyPro® Oil & Gas Lease Property Coverage
The oil and gas industry faces a wide variety of unique risks. Travelers EnergyPro Oil & Gas Lease Property coverage is tailored to meet these unique needs. From scheduled oil or gas lease property and equipment, to crude petroleum in tanks, to unscheduled oil or gas lease property and equipment at unscheduled locations, Travelers Oil & Gas offers flexible coverage to help keep your business protected.
Covered Property May Include the Following:
Oil and gas lease property and equipment coverage
- Scheduled property and equipment at covered locations
- Property and equipment may be described on the policy or in a separate schedule on file with us
- Valuation is based on either replacement cost or actual cash value options selected at policy inception
Crude petroleum in tanks coverage
- Scheduled crude petroleum in tanks less than 10,000 barrels capacity at scheduled locations
- Crude petroleum may be scheduled on the policy or in a separate schedule on file with us
- Crude petroleum loss valuation based on market price, or contract price if higher, on date of the loss, plus any gathering or transportation costs
Unscheduled oil or gas lease property and equipment coverage:
- Coverage applies to unscheduled property and equipment at unscheduled locations
- An each-item limit and an each-loss-event limit applies
Valuation based on either replacement cost or actual cash value options selected at policy inception
- Debris removal coverage
- Up to 25 percent of the sum of paid loss and deductible
- Removal and replacement of underground pumps coverage
Up to $10,000 for all costs or expenses that result from any one loss event
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We understand that each oil and gas company has unique risks and exposures. Our knowledgeable Risk Control professionals, who are dedicated to the oil and gas industry, work with customers to help them understand and manage these risks.
Our claim team specializes in handling losses that arise out of the oilfield, with proven expertise in understanding master service agreements (MSAs) and the importance of contractual risk transfer (CRT). We offer the power and resources of a national company, with local expertise and autonomy.