oil field insurance in NM

What You Need to Know About Oil Field Insurance

You are part of the oil and gas industry and have seen its growth in the past few years and decades. You are also aware of the unique risks and challenges this industry is facing. No one who operates in this industry should be without oil field insurance in NM. Unique risks call for specialized insurance. An insurance agency that is an expert in this field can provide you with coverage for scenarios that is recommended for people like you.

What type of insurance you need depends on your unique situation. However, in general, everyone who is part of the oil and gas industry should have general liability insurance, which is the foundation of it all. Furthermore, you might need coverage for property damage, workers’ compensation and equipment breakdown. As a business owner or contractor, it’s also smart to carry coverage for commercial umbrella and environmental, pollution and commercial auto liability.

Unfortunately, catastrophic events and accidents do happen in this line of business, and the risk of environmental pollution is high. A standard insurance policy for general business owners is not enough in your particular situation. Your chosen insurance agent can help assess your risks and recommend to you the right oil field insurance in NM that fits your needs.