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

Additional Coverages:

• 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

Who is this right for?

• Drilling contractors
• Operators and nonoperators