 ptrowskiGot Helix?
Premium Member
join:2005-03-14
Woodstock, CT |
to oldschool
Re: [HVAC] Oil Tank ReplacementThe cost of a new tank, $1000 give or take.
Oil spill in the house? Potentially $10k-50k which most insurance companies will NOT cover.
Easy solution. |
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said by ptrowski:The cost of a new tank, $1000 give or take.
Oil spill in the house? Potentially $10k-50k which most insurance companies will NOT cover.
Easy solution. Yes, I tend to agree. I can afford it and think it's the best thing to do. I want to see if they will give me some kind of guarantee for the new tank - like if anything goes wrong in the first X years they will cover it 100%. |
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dks01
join:2016-12-29
Owen Sound, ON |
to ptrowski
said by ptrowski:The cost of a new tank, $1000 give or take.
Oil spill in the house? Potentially $10k-50k which most insurance companies will NOT cover.
Easy solution. Add at least one more zero to that estimate. |
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ptrowskiGot Helix?
Premium Member
join:2005-03-14
Woodstock, CT |
ptrowski
Premium Member
2019-Jun-18 5:00 pm
I was shooting low end. My brother in law works for a remediation company, said that is his biggest fear. |
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dks01
join:2016-12-29
Owen Sound, ON |
dks01
Member
2019-Jun-18 10:12 pm
said by ptrowski:I was shooting low end. My brother in law works for a remediation company, said that is his biggest fear. Insurance companies here are suggesting remediation will run $100,000 to $500,000. |
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2 edits |
cowboyro
Premium Member
2019-Jun-19 8:09 am
said by dks01:Insurance companies here are suggesting remediation will run $100,000 to $500,000 Of course they are... higher premiums. The typical cleanup is 5000-15000 per the company that removed our old inground tank after we bought the house - and that is with CT prices and labor cost (we did tests prior to buying the house and they came back fine, seller put money in escrow for tank removal). Basement cleanup (if it evens comes to that) will be significantly less as it gets detected much sooner, not after someone finds that they went through 500 gallons in one summer after using twice as much as usual during the winter. A leak of a tank in basement is easy to detect early as the smell will be obvious before there is even a puddle under the tank. |
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dks01
join:2016-12-29
Owen Sound, ON |
dks01
Member
2019-Jun-19 10:12 am
said by cowboyro:said by dks01:Insurance companies here are suggesting remediation will run $100,000 to $500,000 Of course they are... higher premiums. The typical cleanup is 5000-15000 per the company that removed our old inground tank after we bought the house - and that is with CT prices and labor cost (we did tests prior to buying the house and they came back fine, seller put money in escrow for tank removal). That is a simple tank removal. I am speaking of spill mitigation costs. |
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cowboyro
Premium Member
2019-Jun-19 10:20 am
said by dks01: I am speaking of spill mitigation costs. So am I. Mitigation cost for a leak is typically 5-15k. A tank removal is $2k or so (we paid ~1800 IIRC). |
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dks01
join:2016-12-29
Owen Sound, ON |
dks01
Member
2019-Jun-19 11:58 am
said by cowboyro:said by dks01: I am speaking of spill mitigation costs. So am I. Mitigation cost for a leak is typically 5-15k. A tank removal is $2k or so (we paid ~1800 IIRC). You got off lightly. Here is one from Ottawa that will be over $1m. » www.cbc.ca/news/canada/o ··· .1115685And one in Boston... » www.nbcboston.com/invest ··· 191.htmlBoth a lot more. |
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markf
join:2008-01-24
Scarborough, ON |
markf
Member
2019-Jun-19 12:50 pm
Those costs are insane.
Why not get a cold climate air source heat pump and call it a day?
The liability is non-existent compared to those clean up costs. |
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cowboyro
Premium Member
2019-Jun-19 1:03 pm
said by markf:Why not get a cold climate air source heat pump and call it a day? They have a limit too, and require an existing forced air system. Or you're looking at $20k+. And then you have the problem of very cold days when you need auxiliary (very expensive if you have resistive). And it means no heat on a regular gas generator. |
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| cowboyro |
to dks01
$1mil is bogus. For that price you tear down a house, replace all soil and build a new house. And you have $500k left in the pocket. |
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ptrowskiGot Helix?
Premium Member
join:2005-03-14
Woodstock, CT |
ptrowski
Premium Member
2019-Jun-19 2:09 pm
said by cowboyro:$1mil is bogus. For that price you tear down a house, replace all soil and build a new house. And you have $500k left in the pocket. All depends on the situation. Do you have wetlands or protected land near you? I could see it really getting out of hand the longer the spill was allowed to sit. |
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to cowboyro
The article states that the spill polluted drinking water. If your home is built on land where the water table is high or near a body of water like a stream, I can easily see how the clean up cost can be so high. but for most spills, it's probably digging a couple of feet down to remove all of the oil. |
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dks01
join:2016-12-29
Owen Sound, ON |
to cowboyro
said by cowboyro:$1mil is bogus. For that price you tear down a house, replace all soil and build a new house. And you have $500k left in the pocket. In your opinion. The soil still have to transported, stored and replaced. Then there is downstream liability. Here is one where the bill is already $250,000 » www.cheknews.ca/nanaimo- ··· -504228/Here is one for $100,000 and more to go. » www.timescolonist.com/ne ··· .1770366And a million dollar one. » www.cbc.ca/news/canada/o ··· .1115685 |
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| dks01 |
to ptrowski
said by ptrowski:All depends on the situation. Do you have wetlands or protected land near you? I could see it really getting out of hand the longer the spill was allowed to sit. If you have contaminated a well or wells, the mitigation cost could be very high. |
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markf
join:2008-01-24
Scarborough, ON |
to cowboyro
said by cowboyro:said by markf:Why not get a cold climate air source heat pump and call it a day? They have a limit too, and require an existing forced air system. Or you're looking at $20k+. And then you have the problem of very cold days when you need auxiliary (very expensive if you have resistive). And it means no heat on a regular gas generator. They do have a limit - cold climate air source heat pumps can give heat down to -30C, but at around -18C, at least on mine, the auxiliary heater comes on. In my case, at a rental I own and pay the bills for, the total energy bill was down 8% with the same tenants and a colder year than my reference year when I switched from natural gas (90%) to a Mitsubishi Zuba. On the question of needing an existing forced air system, you can get a ductless system with head units placed throughout the dwelling to heat rooms or areas. Depending on how often you get power outages, the generator might be an issue. Off the top of my head I know my system consumes about 3.2 kW at -8C, but that would vary based on house size so you could potentially get a generator that could support that. Cost wise, my system was about CAD$14k which was in and around the quotes I got for good, high efficiency equipment from a few sources. |
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cowboyro
Premium Member
2019-Jun-23 10:59 pm
said by markf:at a rental I own and pay the bills for, the total energy bill was down 8% with the same tenants and a colder year than my reference year when I switched from natural gas (90%) to a Mitsubishi Zuba. That is very unusual given the typical rates throughout US. There are few places where electricity is dirt cheap, but very few -if any- would beat the cost of gas heating. I am a strong supporter of heat pumps and have measured my system in great detail for nearly 10 years, but currently I can only beat the cost of oil heat (my aux) at night and weekends, when off-peak rates are in effect. Using peak rates it's a net loss for any outside temperature at which it would be needed given my CURRENT rates (oil ~$2.7/g, electricity ~$0.3/kWh peak). And that with oil being 2x more expensive than gas for the same net heat output. |
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 sk1939
Premium Member
join:2010-10-23
Frederick, MD |
sk1939
Premium Member
2019-Jun-24 7:09 pm
Your oil rates are cheap, I’m over $3/gal when I filled up earlier in the year. |
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 CGMason14Nj Roaddog
join:2002-07-22
Mountainside, NJ |
to cowboyro
said by cowboyro:I am a strong supporter of heat pumps and have measured my system in great detail for nearly 10 years, but currently I can only beat the cost of oil heat (my aux) at night and weekends, when off-peak rates are in effect. Using peak rates it's a net loss for any outside temperature at which it would be needed given my CURRENT rates (oil ~$2.7/g, electricity ~$0.3/kWh peak). And that with oil being 2x more expensive than gas for the same net heat output. At least if oil prices spike, you have the option to heat using another source of energy. Your electric prices are HIGH though, here in NJ I pay around $0.17/kwh. I have a heat pump for heat, but strips for aux since my place is all electric. The Mitsu units may be more efficient than a typical 10 year old heat pump though. The more modern units usually have 2-stage compressors that can ramp up when its really cold to avoid aux heating. Maryland is a bit warmer than CT or NJ and might have cheaper electric making a heat pump with oil aux viable. |
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cowboyro
Premium Member
2019-Jun-27 12:13 am
said by CGMason14:The Mitsu units may be more efficient than a typical 10 year old heat pump though. The more modern units usually have 2-stage compressors that can ramp up when its really cold to avoid aux heatin They are slightly more efficient than my 11 years old, mid-range heat pump, some numbers I got my hands on after a quick search show 10% better efficiency at 17F. However those are typically mini-split units, not suitable for heating a whole house. said by CGMason14: Maryland is a bit warmer than CT or NJ and might have cheaper electric making a heat pump with oil aux viable. Heat pump is still viable in CT, but currently only with off-peak rates and when there is no natural gas; however that's when most of the heating is needed. If someone sneezes in the Middle-East things can change drastically... I've had my system since 2008, they paid for themselves really well when oil was $4+ and electricity around $0.20 |
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