NJEDA - State Grant money for NJ residents with oil tanks (sales, insurance)
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A few people in here have asked me about the NJEDA State Grant program for underground oil storage tank removals and installations. It's a great program and you can get up to $3000.00 back from the State. These programs typically run out of funds quickly so if anyone out there is considering it, do it sooner than later. You don't need to be poor in order to qualify...
Wiley, regarding the DEP program to remove USTs, what happens though if they find something? Also can you recommend a reputable company to pull the tank up? i live in essex county. i can only afford to do it if i will get reimbursed, so how do you tell ahead of time that there are funds there? Are there any companies that will do the work and wait for reimbursement? i see that the DEP will make the check out directly to the firm doing the removal. Last question, are there any companies other than proguard that will insure these tanks?
Wiley, regarding the DEP program to remove USTs, what happens though if they find something? Also can you recommend a reputable company to pull the tank up? i live in essex county. i can only afford to do it if i will get reimbursed, so how do you tell ahead of time that there are funds there? Are there any companies that will do the work and wait for reimbursement? i see that the DEP will make the check out directly to the firm doing the removal. Last question, are there any companies other than proguard that will insure these tanks?
If the tank is deemed to be leaking and you don't have the funds to do the cleanup... there's also a grant program or depending on your income, low interest loan program available for the cleanup activities thru the NJDEP. Not sure if there are too many companies out there willing to wait for payment as the process can take weeks to months. If the economy was better, I'm sure you would have a dozen contractors banging on your door for that deal : )
Regarding "tank protection"... Proguard is the most popular. Your homeowner's ins. co. may offer tank ins. - a rider to your policy as well. Depends on how long you have been with them and they may also require a tank test. A few of the larger companies do offer it. There's also one company out there that is writing a true tank Insurance policy. I'll see if I can find their information. I'll DM you with information on a company that handles tank removal/installations .
Wiley, regarding the DEP program to remove USTs, what happens though if they find something? Also can you recommend a reputable company to pull the tank up? i live in essex county. i can only afford to do it if i will get reimbursed, so how do you tell ahead of time that there are funds there? Are there any companies that will do the work and wait for reimbursement? i see that the DEP will make the check out directly to the firm doing the removal. Last question, are there any companies other than proguard that will insure these tanks?
Wiley owns a Company that pulls tanks out and does remediations. I wish I knew her when I did mine because the company that did it(Located in North Jersey) were not so nice. My insurance covered it, but the things it did not cover, they wanted to charge me 3 times the price to do. For that I ended up looking and went elsewhere.
Wiley owns a Company that pulls tanks out and does remediations. I wish I knew her when I did mine because the company that did it(Located in North Jersey) were not so nice. My insurance covered it, but the things it did not cover, they wanted to charge me 3 times the price to do. For that I ended up looking and went elsewhere.
Diane G
Thanks D : ) May have to put you on the payroll . I actually got one of my clients 30K from the ins. company to re-landscape! I also squeezed another 12K out of them to re-finish the basement! I do my best and haggle for the homeowners for those items which are not typically covered as you know... sometimes it works and other times..depending on the ins. co. - it doesn't.
Hi, I am looking at a home in North Jersey with an oil tank underground. Apparently the home comes with an insurance policy for the tank. I am awaiting a copy of this policy before I do anything in terms of bidding on the house, but was wondering if anyone knew the approximate cost of replacing the tank with an above ground tank. The homeowners claim they had the tank tested when they replaced the furnace a few years back and had it insured then as well. If the policy seems legit and covers environmental issues, should I pursue the house with the goal of replacing the tank shortly? Trying to see if I could get the current homeowner to do it, or possibly offer a concession in the price to do so and make close contingent on no leakage. Obviously the big question is why they didn't just replace the tank when they upgraded the furnace a few years ago. My sources tell me $$$s, but I thought it didn't cost that much to replace an underground tank with an above ground one.
Anyone have any thoughts on all of this? Costs involved if everything checks out a-ok? Possible maximums in grants too?
Hi, I am looking at a home in North Jersey with an oil tank underground. Apparently the home comes with an insurance policy for the tank. I am awaiting a copy of this policy before I do anything in terms of bidding on the house, but was wondering if anyone knew the approximate cost of replacing the tank with an above ground tank. The homeowners claim they had the tank tested when they replaced the furnace a few years back and had it insured then as well. If the policy seems legit and covers environmental issues, should I pursue the house with the goal of replacing the tank shortly? Trying to see if I could get the current homeowner to do it, or possibly offer a concession in the price to do so and make close contingent on no leakage. Obviously the big question is why they didn't just replace the tank when they upgraded the furnace a few years ago. My sources tell me $$$s, but I thought it didn't cost that much to replace an underground tank with an above ground one.
Anyone have any thoughts on all of this? Costs involved if everything checks out a-ok? Possible maximums in grants too?
Thanks!!!
Is it a Tank "INSURANCE" policy or Tank "PROTECTION" policy? Huge difference! Tank Protection policies have a "Voluntary Pull" clause... Make sure your attorney reads thru the policy. The average cost to remove and replace is approx. 3000 to 5000 depending on tank size(s) and options - single wall, double wall...etc. The State Grant is for $3000. I would really think twice about taking on the liability of an in-ground tank...even if you have a tank plan, you still have to deal with the issues and the mess if the tank leaks! Just my 2 cents ; )
Is it a Tank "INSURANCE" policy or Tank "PROTECTION" policy? Huge difference! Tank Protection policies have a "Voluntary Pull" clause... Make sure your attorney reads thru the policy. The average cost to remove and replace is approx. 3000 to 5000 depending on tank size(s) and options - single wall, double wall...etc. The State Grant is for $3000. I would really think twice about taking on the liability of an in-ground tank...even if you have a tank plan, you still have to deal with the issues and the mess if the tank leaks! Just my 2 cents ; )
Thanks for the advice. I assume you have a background in all of this. Problem is, we have been looking for a house for close to a year and finally found one with almost everything and this is the one of the few negatives in it. I think we are planning to replace right away, upfront. Have you heard of home sales contingent on moving the tank to a basement? I am awaiting to see the policy and also find out some more info on age of the tank and what not.
Hey Wiley - I noticed you are an HVAC & Enironmental contractor. The other question I actually was looking for an answer on was the cost to install Central A/C. Obviously there are a lot of variables, but the main ones are:
4 bedrooms on 2nd floor
living, dining, kitchen on 1st floor
basement
full attic
Figure whole house is rougly 2000-2500 square feet of space to cool on all of those floors (not including attic).
Currently has 5 window air conditioners throughout.
Heating is radiator, so no duct work currently in house either.
Just wondering what the approximate cost would be to install central air. I have been told anywhere from $10k to $25k. That is a broad range and would love just a more itemized idea of how that would play out.
Thanks for the advice. I assume you have a background in all of this. Problem is, we have been looking for a house for close to a year and finally found one with almost everything and this is the one of the few negatives in it. I think we are planning to replace right away, upfront. Have you heard of home sales contingent on moving the tank to a basement? I am awaiting to see the policy and also find out some more info on age of the tank and what not.
Wiley does have a background, listen to her. She does remediations. I had a house with an underground tank, it leaked, my insurance company did cover it. It was awful and I would not want anyone to experience what I did. The remediation costs $235,000. The smell was awful. There were times I did Priceline to get a hotel just to get away from it. The Water tank trucks were on strike, so I had this lovely water tower on my front lawn. I also had a porta potty, on front lawn. It was a nightmare as the leak hit groundwater. My deck had to come down,thank God, pool and Gazebo did not.
The negative you have is a huge one.
Diane G
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