Who needs rig insurance?

Whether you're a pipeline contractor, oil and gas manufacturer/supplier, or a midstream company, we have the experience to tailor your insurance policy to what you need and the markets to ensure your costs won't hinder your company's growth. Your rig insurance needs to have coverage for all points of risk in your position.

What is oil rig insurance?

An Oil Rig insurance policy is designed to provide comprehensive coverage for the complex risks presented by the offshore and onshore exploration, production, and contractor segments of the upstream oil and energy industry.

Does insurance cover rigs & equipment?

The machinery, tools, and rigs used in the field cannot be covered by a standard automobile policy or property insurance policy. Instead, rigs and equipment coverage is necessary. These pieces of equipment are not only expensive to repair or replace, but it can devastate a business when they are out of commission.

How much does big rig insurance cost?

The cost of big rig insurance for an owner-operator with auto liability, physical damage, and cargo insurance coverage ranges from $7,000 to $16,000 a year. It is essential to shop around and find the best deal.

How do oil & gas companies manage risk?

From single rig operations to carbon capture facilities, each oil and gas business operates in a highly regulated, complex environment that influences its risk management and insurance needs.

Do oil and gas companies need insurance?

Businesses in the oil and gas industry face situations that require specialized insurance solutions.