TUESDAY, JULY 7, 2020
 Commercial environmental risks are common today. Laws regarding what types of pesticides companies can use and how trucks carry products across the country are very specific. When an accident occurs, and the environment is at risk, will your business insurance help you? That depends on what happened and the type of insurance you have. Here are a few examples of what may occur.
What Is the Concern?
There are many reasons why an environmental liability insurance policy is important.
For some companies, this is an essential form of business insurance. It provides specific coverage for the cleanup after an environmentally-toxic spill or exposure occurs. It should fit your company. That means it should specifically cover your risks based on the toxins present within your operation. Here are a few examples of when it is an important investment.
Fuel Storage
If your company has any type of onsite or offsite fuel storage, this can be an important investment to make. Fuel tanks, vehicles with significant fuel in them, or storage tanks that are underground can require environmental liability insurance. If your company transports fuels for any reason, you should consider this coverage.
Manufacturers
Does your company use specific chemicals related to the manufacturing industry? These could be fuel, but they could also relate to burn off. They may include chemicals or dangerous substances that can get into groundwater sources. Companies that use any type of toxic substance in their operations should have this type of liability insurance.
Pollutions
Pollution liability insurance may include protections that involve solid or liquid products, as well as thermal or gaseous contaminants. Any instance in which the products you use could pollute the environment should be under consideration and planned for. Liability coverage, therefore, is a critical type of protection to have.
Farming
Despite being part of an industry many people don’t think about as environmentally risky, farmers may also need to consider the value of environmental liability insurance. It can help in any situation where drinking or groundwater contamination occurs. It can cover any type of fuel spill as well. It might also apply to pesticide contamination.
Are you unsure if you need it? Contact your business insurance agent. Discuss the benefits of a policy like this. Talk about the risks of not having it, too. Most often, this type of policy is valuable. It can help with the remediation of many risks and helps prevent financial loss to your company as a result.
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