| WAKEFIELD, MA… | | | | cost of installing either an oil safety valve or oil |
| Imagine striking oil – in your basement! Under | | | | supply line with a protective sleeve ranges from |
| normal circumstances, you never actually see the | | | | $150 - $350 (including labor, parts, and local permit |
| fuel oil that heats your home. To keep it that | | | | fees)." Compare that to the cleanup cost for a |
| way, Massachusetts homeowners who heat with | | | | "simple" leak which MassDEP claims, "can be as |
| oil will need to upgrade their home heating system | | | | much as $15,000. In cases where the leak |
| equipment to prevent leaks from tanks and pipes | | | | impacts the groundwater or is more extensive, |
| that connect to their furnace under the provisions | | | | the cleanup costs can reach $250,000 or more." |
| of a new law that takes effect on July 1, 2010. | | | | This new law makes both good financial and |
| This law has two major provisions: | | | | environmental sense for homeowners who will |
| - Fuel supply lines or return lines in direct contact | | | | spend a little now to potentially save a lot later. |
| with concrete, earth or other floor surfaces shall | | | | Homeowners who have been certified to be in |
| have a continuous non-metallic sleeve installed to | | | | compliance with the leak prevention measures will |
| enclose the fuel line, or have an oil safety valve | | | | also be qualified to purchase new insurance |
| installed at the tank end of a fuel supply line. | | | | coverage that: |
| - Insurance companies that write homeowner | | | | - Provides "first party coverage" of at least |
| policies are required to offer elective coverage | | | | $50,000 for the cost of cleaning up a leak to soil, |
| for leaks from heating systems that use oil. | | | | indoor air, or other environmental media from a |
| Installation of oil safety valve devices or the | | | | home heating system at the residence itself and |
| installation of a protective sleeve must be | | | | reimbursement for personal property damage, |
| performed by a licensed oil burner technician. | | | | AND |
| Heating oil systems installed on or after January 1, | | | | - Provides "third party coverage" of at least |
| 1990 are most likely already in compliance with | | | | $200,000 for the cost of dealing with conditions |
| the new law since state fire codes started | | | | on and off the insured's property if the leak has |
| implementing these requirements on new | | | | or is likely to impact groundwater or someone |
| installations at that time. | | | | else's property. The coverage also includes costs |
| According to the Massachusetts Department of | | | | incurred for legal defense, subject to a deductible |
| Environmental Protection (MassDEP), "The typical | | | | not to exceed $1,000 per claim. |