If you have a steel, single-wall heating oil tank in your basement, it has a maximum lifespan of about 20-25 years or so – which means If you have a home that was built in or before 1995, you’re probably due, or perhaps even overdue, for a replacement.
If your tank is an in-ground steel model, that life expectancy shrinks to about 10-15 years: at 20 years, the risk of leaks from buried steel oil tanks becomes significant.
The problem with assessing the condition of your tank using the eyeball test is that steel tanks corrode from the inside out due to trapped moisture and sediment. That means that even though your heating oil tank looks fine, it could be poised to fail at any moment, and you won’t see it coming until it’s too late. “Too late” in this case means that you’ll be on the hook for $10,000-$50,000 in remediation costs, since oil spills are not usually covered by homeowner’s insurance.
When it comes to replacing your heating oil tank, here’s the bottom line: if you know the time is coming, don’t wait – it’s simply not worth the risk, especially considering the affordable, double-walled, eco-friendly heating oil tank options available today (heating oil tanks have come a LONG way in the last 20 years – today’s models are virtually leak-proof and available in a variety of sizes and configurations).
Vaughn Oil installs heating oil tanks quickly and correctly, in accordance with all local, regional, and federal codes. We’ll even help you remove your old tank safely and cleanly, with no hassles or mess left behind.
Spring and early summer are the best times of the year to install a new heating oil tank – especially when you consider our specials that can save you up to $900! Contact us today for a FREE estimate on a new tank for your Rhode Island home!