Heating oil stored in a tank can leak and pollute groundwater. Owners are responsible for any damage caused by their heating oil tank. Therefore, it is very important to protect yourself in such cases. Owners of oil tanks can also be sued if it is not possible to determine who caused the damage. The cause is usually technical errors during refueling or defects in pipes and tanks.
In 2021, the German authorities recorded 143 accidents involving “heating oil-consuming systems”. The damage is often costly. The most expensive heating oil accident in industry statistics over the past ten years cost 300,000 euros, according to the General Association of Insurers. Stiftung Warentest examined the offers of 19 insurers. The price differences are enormous. In most cases, there are cheap offers that even cover damage to your own building without having to pay a deductible. All offers in the test protect against damage caused by oil leaks.
Why Comparing Water Damage Liability Insurance Is Worth It for You
Test results
In the test you will find 38 water damage liability insurance policies from 19 providers. We tell you what the protection includes and which insurers also insure damage to your own building without a deductible. The price differences are enormous. Expensive policies can cost more than six times as much as cheap offers, just under 30 euros or more than 190 euros per year.
For single, double and multi-family homes
We have listed the annual rates for underground and above-ground tanks with capacities of 3,000, 5,000 and 10,000 litres. We have allocated the 3,000 and 5,000 litre tanks to single-family and two-family homes, and the larger tanks to multi-family homes. The insured amounts under test range from €2 million to €50 million. This is the maximum amount that insurers will pay in the event of a claim.
The Best Water Damage Liability Insurance for You
The insurance experts at Stiftung Warentest will show you how to insure your oil tank optimally and cheaply. Also read whether you are already covered by your liability insurance or, as a homeowner, by your property liability insurance.
Journal article in PDF
After activation, you will receive the Finanztest magazine article 24/08 for download.
Test results for 38 water damage liability insurance policies
unlock
The owner is responsible even if he is not at fault
A practical example of how this can happen at any time: A heating company installed the oil tanks of the heating system correctly on the construction site. A clamp apparently interfered with the further work; in any case, someone unscrewed it and then forgot to put it back on. The consequence: 800 liters of oil leaked during the first delivery of heating oil. Special companies removed the contaminated soil and cleaned the rock layers beneath the house. It cost 30,000 euros. It was no longer possible to clarify who was responsible for the disaster. The owner had to pay for the damage. Fortunately for him, he had liability insurance against water damage.
Price comparison for water damage liability insurance
It is worth comparing liability insurance against water damage. Stiftung Warentest found large price differences. Insurance cover for a 3,000-liter above-ground oil tank is sometimes available for around 20 euros per year; with other providers it costs more than 90 euros; you can get a contract without excess in the event of personal injury for just 23 euros per year. In the best case scenario, a 10,000-liter underground tank can be insured for 29 euros per year, while the most expensive policy costs 191 euros in comparison. Before the comparison is even activated, you can see in our Test tablewhich insurance company rates we checked.
Perform regular maintenance on oil tanks
Over the years, tanks can become brittle and leak. Broken pipes, small cracks in the pipes or blocked ventilation openings can also occur. If problems are identified, the owner must have them repaired immediately. Many tanks have to be inspected regularly by the authorities. We explain the details in the test report. What is important is that anyone who overlooks defects and does not correct them immediately runs the risk of their insurance company reducing their benefits in the event of an oil leak.
Tip: In certain cases, liability insurance or, for homeowners, homeowner’s liability insurance also pays for water damage. Our Liability Insurance Comparison shows which policies also cover above-ground heating oil tanks of up to 5,000 liters. Those who rent a property can take a look at the property Comparison of Homeowners Liability Insurance and Homeowners Liability Insurance to throw.