Gas Station Insurance
Gas station insurance protects against risks like accidents, theft, fires, and lawsuits. Get coverage for liability, property damage, and employee injuries to keep your business secure.
Choose the right coverage from trusted insurance providers.
Why do gas stations need insurance?
Owning a gas station can be risky, as accidents and unexpected events happen often. From fuel tank fires to robberies, station owners face serious threats that could lead to huge losses. If a customer sues after an accident, legal battles can be costly. That’s why having business insurance is crucial—it helps in covering expenses like medical bills, property repairs, and legal fees.
Additionally, workers’ compensation is required by law to protect employees from workplace injuries. The right policies provide peace of mind, ensuring that your business is financially secure no matter what challenges arise.
What types of business insurance do gas stations need?
The right insurance policies help protect gas stations from their most common risks.
Business owner’s policy
A business owner’s policy (BOP) is a cost-effective choice for gas station owners who want to buy general liability coverage and commercial property insurance together. It helps cover customer bodily injuries, stolen or damaged business property, and business interruption insurance for lost income.
Under this plan
Customer bodily injuries
Stolen or damaged business property
Business interruption insurance
Commercial umbrella insurance
A policy that boosts the limits of general liability insurance, commercial auto insurance, and employer’s liability insurance to protect against expensive lawsuits. This coverage helps in cases of multi-vehicle auto accidents, customer injury, and employee injury lawsuits.
Under this plan
Higher liability & auto coverage
Lawsuit protection
Multi-vehicle accident coverage.
Commercial auto insurance
A policy for a gas station must meet state requirements and cover injuries and property damage from a vehicle accident. It includes auto liability coverage for injuries caused to another person and physical damage protection like collision coverage, vandalism, and theft.
Under this plan
Liability for injuries
Collision damage
Protection from vandalism & theft.
Cyber insurance
A policy for gas stations helps recover financially from cyberattacks and data breaches. It is recommended for business owners to protect customer’s personal information, like credit cards. Coverage includes fraud, notification expenses, monitoring services, and investigations after a data breach.
Under this plan
Protection for customer data
Fraud and notification costs
Assistance with breach investigations
General liability insurance
General liability insurance covers basic gas station risks like customer injury at the pump, damaged customer property, slip-and-fall accidents, and lawsuits for libel or slander. Many owners bundle it with property coverage in a business owner’s policy for savings.
Under this plan
Customer injury at the pump
Damaged property
Slip-and-fall accidents
Worker’s compensation insurance
A state-required policy, workers’ comp protects gas stations and their employees from work injuries. It covers medical expenses, and disability benefits, and prevents lawsuits. It’s essential for sole proprietors to ensure that employees aren’t denied benefits.
Under this plan
Medical expenses for injuries
Provides disability benefits
Prevents lawsuits for injuries
Comprehensive Insurance for fuel distributors
A refined fuel distributor plays a vital role in keeping America running by supplying gasoline and other products to gas stations, convenience stores, residential homeowners, and agricultural customers. With so many moving parts, the right policies are essential to protect the business from unexpected risks.
Eagle Nation offers coverages specifically designed for stand-alone petroleum marketers, ensuring that each operation has tailored protection. With unique options and endorsements, distributors can secure insurance that fits their exact needs while they deliver fuel efficiently and safely.
How Much Does Gas Station Insurance Cost?
The total cost of insurance for a gas station depends on several factors:
- Hours of operation: A 24-hour gas station has higher risks and hazards, increasing the cost of coverage.
- Number of employees: If you have hired more workers, the cost of workers’ compensation insurance rises due to the chances of employees falling or hurting themselves.
- Convenience stores: Having an on-site store adds to the overall cost of insurance.
- What you sell: Offering products like car washes or food raises coverage expenses.
- Size of the gas station: A bigger station requires more equipment, leading to higher insurance costs.
- Best rates: Consulting an insurance agent with the right know-how can guide you in getting a tailored quote for your business.
Business Owners Policy
A business owner’s policy is a cost-effective insurance policy that combines property insurance and general liability insurance to provide complete coverage for gas stations. This policy covers various risks, including customer injuries, accidents, and damaged business property, ensuring financial security for gas station owners.
Key protections under a business insurance policy include:
- Asset protection: Safeguards against losses from equipment breakdown of essential items like dispensers, automatic car washes, and storage tanks, covering malfunction and replacement costs.
- Buildings and contents: Protects physical assets from damage caused by fire, gas leaks, or pipe bursts, ensuring that damaged structures and equipment are repaired or replaced.
- Business income: If equipment failures disrupt operations, this policy covers income losses due to closing the business for repairs, preventing owners from losing income.
- Products sold: Covers legal risks related to oil brand sales, including potential political litigation if a product issue arises.
- Electronic data: If gas stations use software to track sales, this policy assists in data recovery if systems are damaged.
- Employee dishonesty: Protects against financial losses caused by workers stealing fuel or money from the cash register.
A business owner’s policy ensures that gas station owners are financially protected from unforeseen risks, keeping operations running smoothly.
Two ways to start your coverage
Quotes online
Talk to an agent
Verified business insurance reviews
Hear from customers like you who purchased small business insurance.
FAQs about Gas Station Insurance
The cost of insurance for a convenience store depends on multiple factors:
- Location: Stores in areas prone to risks like theft, vandalism, and crimes may see an increase in their policy rates.
- Number of employees: A greater workforce means you need to pay more for workers' compensation insurance, leading to a higher amount in total.
- Size: A larger store requires more financial protection, as it holds more products, increasing the chances of damage or loss.
- What you sell: Selling alcohol or perishable items raises coverage costs.
- Operations: If the store operates round the clock, the chances of damage or theft are higher.
Insurance officer: Consulting an expert can guide you in getting a quote based on what you require.
Running gas stations comes with many chances of unpredictable hazards due to their open property and exposure to flammable substances. Risks like fire, injuries, oil spills, and vandalism can cause major losses. To stay financially covered during such emergencies, gas station insurance provides essential protection, helping owners manage unexpected damages and liabilities.
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"Eagle Nation made getting gas station insurance simple and affordable. Their expert guidance helped me secure the perfect coverage for my business!"