Oil and gas industry EnergyPro® Oil Lease Property
Travelers EnergyPro Oil Lease Property coverage is tailored to meet the needs of the oil and gas industry. From blanket or scheduled property, to crude petroleum in tanks, to unscheduled property and equipment at unscheduled locations, Travelers Oil & Gas offers coverage to help keep your business protected.
Oil lease property and equipment coverage
- Blanket or scheduled property and equipment limits of coverage 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 (ACV) 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 lease property and equipment coverage
- Coverage applies to unscheduled property and equipment at unscheduled locations
- An each-item limit and each-loss-event limit apply
- Valuation based on either replacement cost or ACV options selected at policy inception
- Debris removal coverage
- Up to 25% of the sum of paid loss and deductible
- Removal and replacement of underground pumps coverage
- Up to $10,000 for all cost or expense that results from any one loss event
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