blazenut Posted October 7, 2009 Report Share Posted October 7, 2009 How do you guys write up old, indoor rusty oil tanks? I feel like i have to let my clients know that there is the possibility of leaks that could end up being extremely costly to clean up and remedy. But how often do you guys write it up? Quote Link to comment Share on other sites More sharing options...
hausdok Posted October 7, 2009 Report Share Posted October 7, 2009 Jeez, I could only hope and pray that they'd be indoors; most of ours are outdoors below ground. Every once in a while we hear about some poor schlub that had to do a cleanup when one of those leaks. It's usually 60 or 70 tons of dirt later before they finish the job. Woe is the person that doesn't have tank insurance around here! ONE TEAM - ONE FIGHT!!! Mike Quote Link to comment Share on other sites More sharing options...
blazenut Posted October 7, 2009 Author Report Share Posted October 7, 2009 Who do you get the insurance from, and can you get if for an indoor tank? Quote Link to comment Share on other sites More sharing options...
hausdok Posted October 7, 2009 Report Share Posted October 7, 2009 Hi, Around here, they purchase it from a state-run program through their oil service company. I heard a few years ago that the state wasn't taking on any new accounts because they'd paid out so much in contamination claims. Don't know where I heard it or how true it is; it stuck in my noggin though. OT - OF!!! M. Quote Link to comment Share on other sites More sharing options...
Jim Morrison Posted October 7, 2009 Report Share Posted October 7, 2009 A 12 gauge steel 275 gallon oil tank lasts 50-75 years. When they fail, they are not an environmental calamity. The weep a little oil, it fills the basement (and later, the house) with the smell of oil, someone calls the oil company, and they are replaced. It's not a big deal and usually costs around a thousand bucks. Rust on the outside of the tank means nothing. They corrode from the inside out. Quote Link to comment Share on other sites More sharing options...
MTL_Inspet_Man Posted October 8, 2009 Report Share Posted October 8, 2009 around these parts we are required to report any tank more than 15 yrs old requires replacement. Fuel oil companies will not service anything over 25 yrs old and in the case of new homeowners some insurances will not insure you for oil cleanup anbd any other damages due to a tank older than 15yrs oil. As much a sI do nort want to contradict Jim, the oil cleanup can run anywhere from $30K to $100K to $500K to remove all of the contaminated materials due to an oil spill. I know from one of the apartment buildings I used to own and am happy the insurance picked that one up! Anyhow my rule of thumb is if older than 15 yrs old and/or cannot find an appropriate data plate recommend to replace. Costs $800 to $1000 and umeet the requirements of full coverage. Thx Quote Link to comment Share on other sites More sharing options...
Bill Kibbel Posted October 9, 2009 Report Share Posted October 9, 2009 around these parts we are required to report any tank more than 15 yrs old requires replacement. Fuel oil companies will not service anything over 25 yrs old and in the case of new homeowners some insurances will not insure you for oil cleanup anbd any other damages due to a tank older than 15yrs oil. >>>> Anyhow my rule of thumb is if older than 15 yrs old and/or cannot find an appropriate data plate recommend to replace. Costs $800 to $1000 and umeet the requirements of full coverage. What the hell are you folks doing to your oil tanks up there?I recently convinced my dad to replace his 58 year old in-ground oil tank. When it was exhumed, it was in mint condition, inside and out. Quote Link to comment Share on other sites More sharing options...
waynesoper Posted October 9, 2009 Report Share Posted October 9, 2009 I have seen indoor oil tanks leak and fill the basement with oil. Unless the slab is jack hammered out anmd contaminated soil removed the oil smell lasts forever. A tank that is sweating oil at the bottom or even dripping slightly should not be talken lightly and should be replaced. Somtimes you see a fiberglass patch at the bottom. That tank requires replacmnent also as patching is not allowed. Quote Link to comment Share on other sites More sharing options...
gtblum Posted October 9, 2009 Report Share Posted October 9, 2009 Rust on the outside of the tank means nothing. They corrode from the inside out. If no one else is going to ask, then I have to. How does that happen if it's coated with oil on the inside? I'm just asking. Quote Link to comment Share on other sites More sharing options...
hausdok Posted October 9, 2009 Report Share Posted October 9, 2009 Rust on the outside of the tank means nothing. They corrode from the inside out. If no one else is going to ask, then I have to. How does that happen if it's coated with oil on the inside? I'm just asking. Easy, water is heavier than oil. it displaces the oil and over time does its thing. OT - OF!!! M. Quote Link to comment Share on other sites More sharing options...
esch Posted October 9, 2009 Report Share Posted October 9, 2009 Rust on the outside of the tank means nothing. They corrode from the inside out. If no one else is going to ask, then I have to. How does that happen if it's coated with oil on the inside? I'm just asking. Easy, water is heavier than oil. it displaces the oil and over time does its thing. OT - OF!!! M. I have this problem on tractor fuel tanks, the outgoing line is about 3/8 inch above the very bottom allowing water to take care of the rest... 400-800$ for new tank (material only) Quote Link to comment Share on other sites More sharing options...
Brandon Whitmore Posted October 9, 2009 Report Share Posted October 9, 2009 I have this problem on tractor fuel tanks, the outgoing line is about 3/8 inch above the very bottom allowing water to take care of the rest... 400-800$ for new tank (material only) Isn't that what Kreme or Red- Kote (sp?), and other metal fuel tank sealant materials are for? If you have that problem much, I would just start by sealing the inside of the metal tank. http://www.4secondsflat.com/Fuel_Tank_Sealer.html Quote Link to comment Share on other sites More sharing options...
Jim Morrison Posted October 9, 2009 Report Share Posted October 9, 2009 around these parts we are required to report any tank more than 15 yrs old requires replacement. Fuel oil companies will not service anything over 25 yrs old and in the case of new homeowners some insurances will not insure you for oil cleanup anbd any other damages due to a tank older than 15yrs oil. >>>> Anyhow my rule of thumb is if older than 15 yrs old and/or cannot find an appropriate data plate recommend to replace. Costs $800 to $1000 and umeet the requirements of full coverage. What the hell are you folks doing to your oil tanks up there?I recently convinced my dad to replace his 58 year old in-ground oil tank. When it was exhumed, it was in mint condition, inside and out. Well, maybe you're going to teach me something.... Are you talking about above-ground 12 gauge steel tanks holding #2 fuel oil? That's what we use in New England, and they last between 50-75 years. You can patch tanks in MA, but few people bother. The patches don't last very long and the tanks aren't all that expensive anyway. Also, our tanks weep for a long time when they fail. I've never heard of one failing catastrophically that didn't involve some external event. Quote Link to comment Share on other sites More sharing options...
Tom Raymond Posted October 9, 2009 Report Share Posted October 9, 2009 I'm glad the propane guys out number the oil guys like 4 to one around here, I hate oil. Tom Quote Link to comment Share on other sites More sharing options...
hausdok Posted October 9, 2009 Report Share Posted October 9, 2009 What the hell are you folks doing to your oil tanks up there?[/b] I recently convinced my dad to replace his 58 year old in-ground oil tank. When it was exhumed, it was in mint condition, inside and out. It must be a soil condition thing. The owner of one of the biggest tank abatement companies around here - who is also known as "Mr. Oil" - says that any tank in the ground around here for 40 years or more is a leak waiting to happen. I used to use water-reactive paste and stick all oil tanks. Not any more, I was finding so many of them with significant amount of water in them that, unless the agent can tell me that for a fact the tank has been replaced within the past decade or so, I just automatically recommend they have a tank company come out, test the soil around the tank for VOC's, and then, if levels above the acceptable threshold are found, get the tank replaced and any contamination cleaned up. Even if the tank is new or newer, I still disclaim it as underground and uninspectable and recommend they make sure that they get the current owner's tank policy transferred to them with the sale of the house. ONE TEAM - ONE FIGHT!!! Mike Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.