OT - Oil furnace/tank age?

[riu girl]

Do home oil furnaces/tanks expire after a certain age? If so, when do they HAVE to be replaced to keep house insurance valid?

Any info. would be really appreciated.
Thank you

 

[candielips]

Each insurance company has different standards. I was an Insurance Broker before I became a SAHM. Most are around the 25 or 30 year mark. I would check specifically with your insurer.
If it is already in your home that you are currently insuring I wouldn't bother inquiring about it. They will contact you when they want an inspection done.
If it is in a new home that you are purchasing the insurer will most likely want an inspection done, the age of tank, pics of the tank etc...
Some people don't like the hassle that they have when there home has an oil tank or a wood stove. I personally don't either and wouldn't even consider buying a home that has either, unless it was a great price and I could afford to switch to gas. But that is just my opinion, and I am sure many people will differ from me.

 

[gilsan]

We had to replace our oil tank (for insurance purposes), because it was 9 years old and that was the limit for that tank. The age limit is based on the type of tank you have.

 

[amberg@eastlink.ca]

before we bought the house, ours was bordering on 10 years, and starting to rust out on the bottom, so the previous owners had to replace it before sale went through. i think thats more of a concern vs how long it'll actually last- the bottom rusting out, thus causing an oil leak/spill- nasty! not to mention a heck of a lot more than just replacing the old tank.

 

[gilsan]

There is actually a metal tag on the outside that states how long they are considered safe. Our insurance company noted the date of our old one and when it was getting close to the past safe time they contacted us. For them to continue our insurance they required that we replace it and send them a photo of the new one and the tag.

 

[Ted in Halifax]

I understand 10 years is the approx life ...