Connecticut Gas Station Insurance: New London, Windham County

The U.S. gas station industry is huge. According to Australian research company, IBISWorld US, 2013 is estimated to generate almost 137 billion dollars in revenue. But despite its moderate growth, gas stations still hold a number of worth-mentioning risks and exposures. Therefore, affirming the importance of Connecticut gas station insurance.

But despite the associated risks, many Connecticut gas stations do not carry an accompanying insurance policy. Last year, Gene Guilford, president of the Independent Connecticut Petroleum Association (ICPA), warned owners that “if gas stations cannot buy insurance—the under federal law they cannot legally operate and will need to close.” And unfortunately, this was the case for many Connecticut gas stations.

Small gas station owners fail to realize that this does not need to happen to them. Although its a major financial burden for these owners, it is necessary to;

1. Allocate funds for insurance costs
2. Create a no gap insurance policy

Before constructing a Connecticut gas station insurance policy, ask yourself;

• What are the hours of operations?
• What type of goods and services will be sold?
• Is there a leak and fire prevention plan?
• Are security cameras and alarms installed?

With an insurance agent (who specializes in gas stations), identify coverage needs and potential risks. Although insuring a gas station is similar to insuring any type of business, there are specifics that need to be discussed. Policies may include (but not limited to):

• Property insurances
• Content coverage (e.g. cash registers, business possessions)
• Food spoilage coverage
• Liquor Liability
• Liability insurance
• Workers’ Compensation
• Employee Dishonesty
• Pollution coverage (provides funds for cleanup costs due to an accidental pollution and gas spills)

As an operator of a gas station, you provide the community with many different services: fuel, automotive repairs, vehicle check-ups — even snacks and beverages if you also operate a convenience store.

At the Byrnes Agency, we provide Gas Station insurance for businesses throughout Connecticut for both independents and franchisees. Our insurance plans cover everything from employee protection to Public Liability insurance as well as Environmental and Storage Tank insurance. If you also sell groceries or other items as well as gas, we’ll review with you the necessary coverages for this type of operation.

Give us a call today

• Dayville Office
  860-774-8549
• Norwich Office
  860-886-5498
• Woodstock Office
  860-928-7928