Oil Heat

Is it difficult to get homeowner’s insurance for a house that uses oil heat?  Or does it just increase the price of homeowner’s insurance?  Can you put up walls around an oil tank and the water heater system to enclose them in closets?  Are there any regulations on building these walls (space needed around the tank, etc.)?  I plan on (eventually) finishing the basement where the tank, etc. are.

schmalla

in Heating 13 years and 3 months ago

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Bklnite | 13 years and 3 months ago

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It shouldn’t affect the price of insurance. They may ask about underground storage tanks, but if it’s the more typical above ground tanks I don’t think it’s an issue. It will affect the price of heating the house 🙂 Market prices constantly change for oil and for gas, but if my math is right … current fuel oil price of about $3.70/gal +4.5% tax;  gas at about $1.25 a therm (an average amount per therm for gas delivery, supply and taxes from my recent bills) … after you multiply the gas therm price by 1.4 to get an equivilent amount of heat from a gallon of oil, oil is close to double the price of gas per unit of energy. Might want to think about (eventually) going with a gas boiler and get rid of the oil tank to give yourself a few more sq ft to work with in the eventually finished basement.

callalily | 13 years and 3 months ago

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Also be aware your boiler needs air to function correctly and safely, which it might not get it if you enclose it if it doesn’t have a vent. At the very least, consult your oil company, which services your boiler.

callalily | 13 years and 3 months ago

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Zillions of people in Brooklyn have oil heat; it doesn’t affect their insurance. There are regulations about what kind of enclosures and firewalls are permitted and required around boilers, and it varies depending on the type of building.