As any business owner understands, acquiring the right insurance can mean the difference between smooth years of operation and complete shutdown. Oil and gas companies are no exception. With a booming location, New Mexico can provide the home for future years of great profit for owners interested in this field of operation. However, it is imperative to understand what kinds of coverage is typical for oil and gas insurance in New Mexico.
While anyone can hope that no accidents occur during drilling operations, the truth is you never really know what can occur during business hours. Unfortunately, the environment can be deeply affected by any spills and explosions. This liability coverage is essential for any operator to obtain in order to prevent permanent shutdowns.
Chances are you are likely required to transport equipment and product over land. Inland marine coverage handles loss and damages that can happen during this process.
Property (Rigs and Equipment)
Rigs, drills and equipment can prove costly to repair or to replace. Luckily, many oil and gas insurance agencies specialize in coverage that can handle the costs involved with replacing and fixing your equipment.
While obtaining oil and gas insurance in New Mexico can appear complicated, learning about a few basic policies can help you acquire the policy package you need. Reach out to an agent today, and protect all of your investments.