Specialist policy for fuel retail, combining building cover, environmental liability, and product liability.
What it does
Petrol and Gas Station cover protects your station against fire, explosion, environmental liability, and third-party claims, tailored specifically to the high-risk profile of fuel retail operations.
Who it is for
Any petrol filling station or LPG retail outlet in Lagos State must hold this policy under LAGBIS. Cover is priced on the declared value of your assets including tanks, dispensers, canopy and stock.
Why it matters
A fire at a fuel station can destroy the site and expose the owner to large third-party and environmental claims. Cover means your insurer handles the cost of cleanup, rebuilding, and legal defence.
Legal requirement
LAGBIS requires all petrol and gas filling stations in Lagos State to hold a valid policy. Operating without cover is a breach of the scheme and subjects the operator to penalties.
Everything your policy includes, in plain language.
Standard exclusions for this policy.
Answers to common questions about your coverage.
Fire and explosion at pumps or tanks, pollution from fuel spills, third-party injury or property damage on the forecourt, and damage to dispensers, canopy and storage infrastructure are all covered.
Yes. Underground storage tanks and their contents are covered as part of your declared assets, subject to the sum insured you declare at application.
Explosion is a named peril. Your insurer will assess the damage, and cover applies to both the rebuilding cost and third-party claims arising from the incident, up to the policy limits.
Stock in trade coverage includes fuel held in your tanks. Losses due to theft from storage are covered, subject to the usual evidence requirements.
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