So, you’re looking to open a gas station, and you want to know what insurances you are going to need.
Well, you are wise to ask that question, because operating a gas station without all of the permits and insurances which are mandated by the government could result in huge fines even if you do not make a claim.
The laws which regulate what permits and insurances your new business needs are set by the state in which it is located, so you will need to look into that with someone knowledgeable in your own state, but most of these permits require the business owner to have associated insurance policies.
Now, given that you are a loyal reader of this weblog, you already know that I am going to tell you that you need general business liability. We don’t need to go into that, as we’ve discussed that repeatedly over the past few years.
Many states mandate that a gas station owner have environmental insurance, which covers you from otherwise uncovered environmental liabilities you end up facing. This kind of policy will help you to undergo remediation projects as well as discovery of new contaminants and hazardous materials. It will cover you for leaks or spillage.
In case you’re wondering whether you REALLY need this coverage, I want you to think back to last week and count up how many ads you saw with an earnest-looking attorney talking about getting money from this company or that, for this toxin or that contaminant.
So now, thinking to the future, imagine that same earnest looking attorney talking to audiences all over the place about your gas station and his willingness to help that audience bring a lawsuit against you.
Remember the old adage about being pennywise and pound foolish and call your licensed insurance professional to discuss what you need to do about insurance for your business!