Monday, November 19, 2012

OIL TANK NIGHTMARE


NEWS YOU CAN USE, brought to you by ONE GOOD HANDYMAN of Victoria, B.C.

From End of an oil delivery gone wrong, Times Colonist  November 14/12

Does your house or the one you are considering buying have an oil tank? If so, how old is it?

Old oil tanks and lines actually rust from the inside-out and may not show signs of corrosion. Oil tanks last about 15 years says the article. If oil leaks it can cost a lot to clean up. Cleanups can range from $48,000 to $250,000. In some cases, such as the house featured in the article, the house has to be torn down ($750,000 replacement cost!).

Some insurance companies will not offer spill insurance to homes with a tank older than 15 years.

A new tank costs about $1500. Double walled tanks are recommended. Some tanks were buried and you may not even know it’s there. Buried tanks that leak can cause severe and expensive environmental damage and the cost of cleanup is the property’s responsibility.


Addendum:
CBC NEWS, Dec 12/12
Have your yard scanned for underground tanks…which were placed prior to 1961
Corry Hughes of Victoria Tank Service

On a separate issue, water heaters are also vulnerable to corrosion. If your tank is nearing 10 years, have it inspected or replace it.  Also, make sure there is a drain pan under the tank or a nearby floor drain to evacuate water should the tank burst.

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