Typical homeowner’s insurance would not provide compensation in the event of an oil spill. Pollutants are excluded in property policies unless the coverage is specifically defined to include the pollutant. According to my local insurance agent, unless a homeowner’s policy specifically covers oil spills, there would be no compensation for loss of use or loss of value resulting directly or indirectly from an oil spill. Further, it would be both difficult and most likely quite expensive to find such coverage. The Exxon Valdez oil spill, which hasn’t been completely cleaned up after 25 years, still has continuous and compounding environmental and economic impacts.8 Washington State can’t afford that tragedy. The 165,000 jobs and $10.8 billion in annual economic activity don’t accurately estimate the costs that such a catastrophe would have on the state. This legislative session requires action on oil transportation issues. The legislature and Governor Inslee must prevent and mitigate the full costs of accidents and spills from oil transportation, including the impacts to privately owned properties. Contact your representatives and the Governor to ensure the economic and environmental well-being of our state. whatcomwatch.org/php/WW_open.php?id=1795
Posted on: Fri, 09 Jan 2015 00:23:52 +0000
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