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Reducing Your Risk at the Tank


When you own a gas station, you need to make sure that your business has the right amount of insurance to protect it. This can be difficult because there are so many different types of policies available. Gas stations are an important part of our daily lives. They’re the places we go to fill up our cars and get snacks on the way home from work or school. From a distance, gas stations can look like any other business – but there’s a lot more going on behind the scenes than most people realize. A gas station owner has to ensure that their property is secure so that no one gets hurt, as well as making sure their insurance premiums are in order so they don’t lose everything if something bad does happen at their location. Fortunately, we’re going to break everything down for you. We’ll explain what each type of coverage is, how much it costs, and how much it will pay out in case something goes wrong. In this article, we’ll discuss what you need to know about commercial insurance for gas stations (and other similar businesses) so you can protect yourself financially if anything happens at your station!


Why do you need it?


To protect your business from:


  • Liability – As soon as you start a business, you’re exposed to risk. Even if you don’t have any property to safeguard just yet, your liability exposure begins right away.
  • Employee theft – Commercial crime insurance provides coverage from employee theft or fraud or non-employees that impacts a client. Commercial crime coverage will pay damages if one of your employees (or anyone else working on your behalf) or non-employees steals from a client.
  • Employees’ violated rights – Your business can be protected against employee injury by having Employer’s Liability insurance. This coverage covers employers who have employees who have been violated in the workplace as a result of the employer’s negligence. It also covers the associated costs like the Insured’s legal fees, and the costs of defending the action. Aside from the insurer’s legal fees and defense costs, it also covers associated costs.
  • Employee fraud – There are two major forms of coverage against employee fraud: fidelity guarantees and crime insurance. Fidelity guarantees cover fraud and dishonesty internal to the business (white collar internal financial crime); crime insurance covers damage to customers as well as the business from employees and non-employees (non-financial crimes).


Gas Station Insurance Cost:


Gas station insurance is one of the more expensive forms of property coverage available. In fact, it’s often more expensive than business owner’s general liability policies and can cost hundreds of dollars per year.

One way to reduce your gas station insurance costs is by increasing your deductible from $5,000 to $10,000 or even higher (the higher the deductible, the more money you’ll pay out in case something goes wrong). You might also consider bundling your gas stations with other properties such as convenience stores or fast-food restaurants if possible so that all three areas are covered under one policy instead of having separate policies for each location.

What Determines Gas Station Insurance Cost?

The cost of gas station insurance depends on:

  • The location of the gas station
  • The size of the gas station
  • The type of gas station
  • The number of employees


The cost of gas station insurance depends on the location of your gas station. If you have a small business and are located in an area with high crime rates, it may be more expensive for you to buy coverage than if you’re located in a safer part of town. The size of your business also affects how much coverage will cost; large stations tend to have higher premiums than their smaller counterparts because they’re more likely to attract theft and vandalism incidents.

Finally, there’s some variation based on what kind of gas station it is: unmanned self-service stations tend to charge lower rates than full-service ones (since they don’t need as many employees), while convenience stores such as Circle Ks are known for charging higher prices because they’re generally open 24 hours per day—and therefore provide more opportunities for things like vandalism or theft.




Coverage for a Gas Station:

Gas station owners need insurance to protect their property and their business. The type of coverage you need depends on your business model, but there are some basic things all gas stations should have.

Property insurance: This protects your physical assets, such as pumps and tanks. It also pays for any damage caused by fire or theft, whether intentionally or unintentionally caused by someone who breaks into the building (such as vandalism).

Property Insurance for a Gas Station:

A gas station is a business that sells fuel and other products to motorists. It’s also known as a service station, convenience store or fast-food restaurant.

You may have heard of the term “property insurance” in relation to places like your home or car—but what exactly does it cover? Property insurance covers the following:

  • The building itself (the structure)
  • Its contents (the interior furnishings)
  • Its machinery (equipment) on which you rely for income generation such as computers, cash registers and telephones…




Get the insurance coverage that you need.

You can buy the right insurance coverage for your business and protect yourself, your family, and even your assets. But it’s important that you understand what each policy covers so you know how much you will be paying in premiums every year.


If you own a gas station or are thinking of starting one, it’s important to have coverage. Gas Station Insurance can protect your business and your assets from potential losses. If you need help finding the right insurance for your business, contact us today.


Daniel Murray No Comments

Covenant Celebrates a Successful 2021

Covenant Underwriters spent 2021 bolstering underwriting results and framework for continued growth and success as a program administrator. There are many causes for celebration as the firm moves into its fourth year of operations.


On March 1, 2021, Covenant Underwriters partnered with Accelerant Specialty Insurance Company (ASIC) for the Hotel Risk Manager program. Accelerant shares Covenant’s vision of removing barriers to specialty insurance.


Some other highlights from the past year:

  • Rolled out cutting-edge rating system with four new data integrations
  • Expanded capacity/authority in property and casualty lines


As the year ended, Covenant drew closer to finalizing our next program, C-Store Risk Manager (CSRM). This new program, focused on convenience stores, is set to launch in 2022. The team is eager for the new opportunities CSRM will bring Covenant.


Covenant also added more of its most vital resource in 2021: people. By the end of the year the team doubled from five employees to ten. This intentional increase is an important piece to the continued success of the firm. Office comradery and efficiency are at an all-time high and show no signs of slowing down.


Covenant is thankful to each of its partners and teammates who made 2021 such a positive year.

Daniel Murray No Comments

Covenant now accepting submissions for Hotel Risk Manager!

Covenant will begin accepting submissions in November 2019 to its highly anticipated hotel insurance program, Hotel Risk Manager.  This is Covenant’s first program, seeking to fill gaps and eliminate the hassle of traditional E+S markets.  The team would like to thank our reinsurance partners, vendors, and key brokers who provided long hours of feedback and support to get this inaugural program launched.  Covenant administers this package policy with binding authority in 48 states.  For more information, please visit https://covenantunderwriters.com/products/hrm/


Daniel Murray No Comments

Covenant Selects Instanda for Policy Management

Covenant Underwriters has contracted with Instanda, Inc. for their cutting-edge, entirely configurable policy management system.  In keeping with our vision of unleashing broker potential, Instanda is the perfect complement to Covenant’s custom policy and automated billing approach.  Instanda’s platform allows Covenant to easily integrate with data partners and 3rd party tools, as well as providing real-time access for brokers, insurers, and policyholders.

INSTANDA’s cloud-based, insurance ecosystem for the U.S. P&C industry includes a configurable, integrated environment for product design, rating, policy administration, digital payments, analytics, and services, which can be rapidly implemented or upgraded using agile methodologies to deliver the capabilities and results P&C insurers need to compete in a digital-first world.  Learn more at https://instanda.com/.