Oil and Gas Insurance in Flower Mound, TX
Operating in the oil and gas industry means managing a level of risk that most businesses never face. Whether you run a drilling operation, manage pipelines or offer field services, your exposure to equipment loss, environmental liability and workplace injury is significant.
What Is Oil and Gas Insurance?
Oil and gas insurance is a package of commercial coverages designed to financially protect businesses working in upstream, midstream and downstream energy operations. Rather than relying on a standard commercial policy that may exclude energy-related hazards, operators and contractors in this sector need policies tailored to their actual exposures.
Common coverages include:
- Control of well coverage—May help cover blowouts and well-related losses
- Operators extra expense coverage—May help cover the cost of regaining control of a well
- General liability coverage—May help cover third-party bodily injury and property damage
- Workers’ compensation coverage—May help cover employee injuries in hazardous field conditions
- Commercial auto coverage—May help cover vehicles used in transport and field operations
How Much Does Oil and Gas Insurance Cost?
Premiums vary based on the type of operation, number of employees, claims history, equipment values and the scope of coverage selected. Drilling contractors typically pay more than consulting firms because their physical risk exposure is greater.
Get Coverage That Fits Your Operation
Contact Consolidated Insurance Markets today to review your exposures and find a policy designed for the energy industry. Our team works with carriers that understand oilfield operations and can help you build coverage that fits the way you work.