Buying your first home in New York City is exciting—but if that home is heated with oil, there are a few extra details worth slowing down for. Many first-time buyers are coming from apartments or gas-heated homes, so oil heat can feel unfamiliar during an already overwhelming process.
In New York City winters, heating reliability isn’t just about fuel quality or delivery timing. One often-overlooked factor is where your heating oil tank is located.
If you heat your home with oil in the NYC area, you likely have a big metal oil tank sitting in your basement or buried in your yard. It’s out of sight, out of mind – until there’s a problem. One day, you might discover a leak or other tank issue, and assume, “Well, that’s why I have homeowners insurance!” Unfortunately, many NYC homeowners don’t realize that standard insurance often excludes coverage for oil tank leaks or spills.
