Tanker Insurance in UAE

What is Tanker Insurance in the UAE?

Tanker insurance is a type of commercial motor insurance in the UAE. It is primarily designed to protect businesses operating tankers (fuel tankers, oil tankers, water tankers, chemical tankers, etc.).

This insurance plan ideally covers damage to the tanker, third-party liabilities, accidents, theft, and loss due to natural disasters. Along with this, it helps businesses to stay compliant and financially secure, as in the UAE, third-party liability coverage is mandatory for all commercial vehicles by law.

Why is Tanker Insurance Important for Businesses in the UAE?

Operating tankers without proper coverage can result in major financial losses for businesses. Here’s why you must prioritise tanker truck insurance:

Mandatory Third-Party Coverage

UAE laws require all commercial vehicles, including tankers, to have third-party liability insurance. Not having this coverage can lead to adverse consequences for your business, including hefty fines, vehicle confiscation, and more. 

High-Risk Exposure

Fuel and oil tankers deal with flammable cargo, increasing the risk of severe accidents, fire, or explosions. To protect you and your business from such incidents, it’s important to have fuel tanker insurance in the UAE. 

Protection Against Natural Calamities

The UAE occasionally faces:

• Sandstorms
• Flash floods
• Earthquake, and more 

With this insurance policy, your commercial vehicle can stay protected from the loss and damage arising from natural disasters. Your insurer will compensate for damage caused by these events, and you will be financially secure.

Financial Protection Against Lawsuits

Any collision that causes injury to another person or property/vehicle loss to a third-party can lead to expensive liability claims. With tanker truck insurance, you will get compensated for third-party liabilities.

Reduced Downtime

Your business may suffer if a tanker is damaged or lost, as the resulting interruption can lead to significant financial loss. This coverage helps repair or replace the vehicle quickly, minimising downtime and ensuring your business remains financially protected.

Types of Tanker Truck Insurance in UAE

You can choose between third-party liability and comprehensive tanker insurance in the UAE. Here, we mentioned the key details of the following coverages:

What is Covered and What is Not Covered Under Tanker Insurance?

Listed below are the key inclusions and exclusions under tanker truck insurance in the UAE:

How Much Does Tanker Insurance Cost in the UAE?

The cost of tanker insurance in the UAE (including oil tanker insurance) varies based on several factors. Here’s a quick breakdown:

Type of Tanker

The kind of tanker you operate directly affects your insurance cost. Fuel, oil, chemical, and other hazardous-material tankers carry higher risks, so insurers charge more to cover potential fire, spill, or explosion incidents. Water or general-purpose tankers face fewer hazards, resulting in comparatively lower premiums.

Vehicle Value and Age

The age and value of your tanker play a major role in how much you pay for insurance. An old tanker naturally costs more to repair or replace, so insurers charge higher premiums and vice versa.

Cargo Risk Level

Transporting hazardous materials like fuel or chemicals increases premium costs due to greater chances of fire, explosion, or road accidents. Low-risk cargo, such as water or non-flammable liquids, results in comparatively lower insurance pricing.

Driver’s Experience

If a driver has past accidents, traffic rule violations, or limited experience, insurers see them as a higher risk and raise premiums accordingly. But a well-trained driver with a clean, responsible track record can actually lower your tanker truck insurance costs by reducing the chances of operational incidents.

Coverage Type

Third-party insurance is the cheapest option but offers minimal protection. On the other hand, comprehensive coverage costs more but provides full coverage, including vehicle damage, third-party loss, and accidental risks.

How to Buy Tanker Truck Insurance Online?

On Policybazaar.ae, you can find the best tanker insurance online in the UAE. This online platform allows you to get the best commercial motor coverage within a few clicks:

• Visit the official site of Policybazaar.ae
• Choose the ‘Business Insurance’ option
• Click on ‘Commercial Motor Insurance’
• Provide the essential details in the lead form 
• Submit the form, and it’s done

One of our experts will call you and guide you in choosing the right commercial vehicle insurance as per your business needs.

Tanker Insurance: FAQs