Insuring Your Tanks

  
 

Claims

Question 1: I have installed new USTs and would like to insure them, what do I need to do?
Answer 1:
The following must be performed:

  1. Complete an application that can be downloaded from this web page under the "Insuring Tanks" section or apply for insurance coverage online;
  2. Register the tank systems with the DNR;
  3. Provide a copy of the manufacturer's checklist to show what type of tanks and piping were installed and that they were installed properly;
  4. Provide a copy of the invoice documenting the type of equipment that was installed for spill and overfill prevention equipment, leak detection equipment, etc., OR provide third-party verification from the installer in writing of this information.
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Question 2: I have sold or purchased a site; what do I do with the insurance coverage?
Answer 2: The PSTIF insurance policy automatically cancels on the date the sale takes place. The policyholder (seller) may be offered an Extended Reporting Period at the time of the sale.

The buyer can apply for a new insurance policy by completing the application located under the "Insuring Tanks" section of our web page.
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Question 3: How often do I have to test my pressurized product lines and line leak detectors?
Answer 3: Pressurized lines must be tested on an annual basis at a .1 gph leak rate.

All pressurized product lines are required to have line leak detectors on them. These line leak detectors must be tested once a year to make sure they are in working condition.

If you have double-walled pressurized product lines with a continuous line leak detector, the line leak detector must be checked once a year to make sure it is in working condition. If the line leak detector is not continuous, then a line tightness test and a check of the line leak detector is required once a year.
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Question 4: How often do I have to test the cathodic protection system on my tanks and/or piping?
Answer 4: All cathodic protection systems, sacrificial or impressed, must be tested every 3 years by a corrosion tester. If the system is not maintaining adequate protection, it must be repaired and re-tested until adequate protection can be maintained.

Please note that for impressed cathodic protection systems, a log must be maintained to show that the system is working. This log would include a date that the rectifier box was checked, who checked it and the readings from the rectifier box. (The readings would include the number on the hour meter, the amp/volt amount, and if you have a system that provides a green/red light to indicate if the system is on and working, record the color of the light).
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Question 5: How long does it take to approve an application for insurance?
Answer 5: The PSTIF will review an application within 30 days of receipt. Many times if the submissions are not complete, additional time is required to request the information from the applicant.
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Question 6: Will the PSTIF pay to clean up property where the tanks are no longer in use?
Answer 6: If the regulated petroleum storage tanks were taken out of use prior to 12/31/97 and the property was identified as a tank site and reported to the Department of Natural Resources prior to 12/31/97, the site is likely to be eligible for benefits under the Petroleum Storage Tank Insurance Fund. A positive response to the 12/31/97 question is the initial step in determining eligibility for an out-of-use site.
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Question 7: I am an owner of a site and have made application to obtain insurance from the fund. My tanks or piping leak while you are reviewing my application. Will the cleanup costs I incur be covered by the Fund?
Answer 7: No, the release will not be covered by the Fund since it occurred prior to the effective date of the policy.
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Question 8: How long does it take for me to receive my check?
Answer 8: The PSTIF will respond to your invoices submitted within 30 days. Many times, the submissions are incomplete and additional information is required. This slows down the process significantly. Once PSTIF is able to make a payment recommendation, it takes approximately two weeks for the State of Missouri to issue a check on the claim. If your invoice submission is complete and no additional information is required, the PSTIF will make a payment recommendation within 30 days, plus the two weeks it takes the State Treasurerto issue a check, or approximately six weeks from receipt of the invoices until you receive a check.
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Question 9: Does the Fund tell me what contractor to use?
Answer 9: The PSTIF does not require an owner to use a particular contractor. The owner has the freedom to select its own contractor and manage the relationship with the contractor directly. The Fund works directly with the owner and not the contractor. All reimbursements are made directly to the owner. It is the owner's responsibility to see that the contractor completes his work timely and submits the invoices to you (the owner), and you (the owner) submit them to the Fund for reimbursement.
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