What Is Oilfield Insurance?

Commercial auto insurance protects your company if there’s a business vehicle-related accident. It may provide coverage for medical payments, property damage and legal expense if your company is sued due to an employee accident. This policy may also cover theft and vandalism.   

Business property insurance can cover your company’s tools, equipment,  computers, and other supplies that you use in your operations, whether owned or rented. 

Commercial general liability can cover claims for bodily injury, personal injury and property damage caused by your business’s operations, products or injuries on your premises. You may also want to purchase pollution liability insurance, which is helpful in the event of contamination, such as an oil spill. 

Commercial umbrella liability kicks in when the cap on your liability policy has been exceeded and can cover the remaining amount. 

Equipment breakdown insurance can cover loss due to the mechanical or electrical breakdown of equipment. This coverage includes the repair or replacement of equipment and the expenses and lost income while broken equipment is repaired or replaced. 

Inland marine insurance can cover loss to products, materials and equipment when transported over land by truck or train. This coverage can also include tools and equipment that travel with employees or products that third parties warehouse.   

Professional liability insurance, which is also called errors and omissions insurance, can cover liability claims resulting from inadequate work or negligent actions.  

Worker’s compensation insurance can cover medical expenses, wage-loss benefits, vocational rehabilitation benefits and death benefits for employees injured at work.