What it does
IH 00 83 covers storage tanks. Carriers file it as the Tank Storage Coverage Form (03 22), the ISO forms index lists Tank Storage Declarations (IH DS 83), and ISO's Mortgageholders endorsement (IH 99 14) applies to it. ISO publishes this form in its IH series of commercial inland marine forms. IH forms are used within the Commercial Inland Marine Coverage Part, together with the Commercial Inland Marine Conditions (CM 00 01) and the Common Policy Conditions.
Who needs it
Businesses with large tanks that are awkward to insure as buildings under a commercial property form, such as bulk fuel plants and agricultural or industrial storage.
Quoting and selling notes
Ask for tank construction, capacity, contents, age, inspection history, secondary containment and spill controls. Pollution liability from tank leaks is not covered by property forms and needs a storage tank liability policy.
Before presenting it
ISO's IH forms are often adopted with carrier changes, and their wording differs from the filed CM forms. Obtain the carrier's specimen and walk the insured through covered property, property not covered, the exclusions, valuation, the deductible and any coinsurance or reporting condition, and match the limits to a current schedule of values.
