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Oil and Gas Coverage

The oil and gas industry is one of the largest sectors in the nation, but it is accompanied by a distinct set of risks and challenges.

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While comprehensive coverage is available for this industry, each policy addresses specific risks and provides varying levels of protection.

Examples include:

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Liability Insurance:
In the oilfield, liability insurance provides protection against legal liabilities arising from accidents, property damage related to operations, and injuries. This coverage typically encompasses three primary policy types: General Liability, Professional Liability, and Product Liability.

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Business Interruption Insurance:
This policy provides financial protection in the event of business disruptions caused by unforeseen circumstances, technical failures, or natural disasters. It helps mitigate financial losses when operations or production are halted due to covered events.

Oil and Gas Coverage

Environmental Insurance:

Environmental Insurance provides coverage for incidents involving leaks, spills, or contamination that could result in significant environmental damage. This policy helps mitigate financial losses by covering the cost of cleanup, regulatory fines, legal expenses, and any necessary remediation efforts. In the event of an environmental hazard, this coverage ensures compliance with environmental regulations while protecting the business from costly liabilities.

Oil Well Insurance:

Oil Well Insurance is designed to protect against risks such as blowouts, fires, and equipment malfunctions that can occur during drilling and production operations. This coverage typically includes financial protection for damage to the well and associated equipment. Additionally, businesses may opt for extended coverage to include costs related to well operations, such as redrilling and control of well incidents. By securing this insurance, businesses can safeguard their investments and minimize financial exposure in case of well-related disruptions.

Machinery Breakdown Insurance:

Machinery Breakdown Insurance provides coverage for unexpected failures of critical equipment, including drilling machinery, pumps, and compressors. This policy covers repair costs, replacement parts, and labor expenses associated with restoring operations. Additionally, if a breakdown leads to a temporary halt in production, this coverage can include Business Interruption Insurance, compensating for lost revenue during the downtime. This insurance is essential for maintaining operational continuity and reducing financial strain caused by mechanical failures.

Oil and Gas Application
Coverages Desired
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(915) 217-2100

1790 N Lee Trevino Ste 316. El Paso TX 79936

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Address

1790 N Lee Trevino Suite 316

El Paso TX, 79936

Email

Customer Service & Personal Lines:

 Service@victoryinss.com

Commercial Specialist:

Sandra@victoryinss.com

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Phone

(915) 217 2100

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