Is "Tank-Guard" home heating oil warranty worth it?

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Small Law Survivor
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Is "Tank-Guard" home heating oil warranty worth it?

Post by Small Law Survivor » Mon Jun 11, 2018 9:42 am

Our oil company charges us $75/year for a treatment of "Tank-Guard" plus warranty worth $2,000 for a replacement tank.

Link to their product here:
http://tank-guard.com/

Here is the description of their product/service:
TANK-GUARD® is a unique oil tank protection program for aboveground fuel oil tanks. It features the patented TANK-GUARD®corrosion protection additive to prevent internal tank corrosion.

For complete peace-of-mind, the TANK-GUARD® program also offers the industry's best warranty - either a cash reimbursement toward a new tank or a FREE replacement tank installation.
Any thoughts on whether this is worth expense?

Wellfleet
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Re: Is "Tank-Guard" home heating oil warranty worth it?

Post by Wellfleet » Mon Jun 11, 2018 9:52 am

Never heard of it. How old is your tank? If 20+ years old consider replacing proactively.

FYI most spills are caused from overfills from the truck, leaking pipe connections, not the tank itself.

eddot98
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Re: Is "Tank-Guard" home heating oil warranty worth it?

Post by eddot98 » Mon Jun 11, 2018 11:11 pm

My fuel company only charges me $29.95 per year to add Tank Guard. I thought that was too much for a quart or so of some secret additive. I feel that it is a rip off, but haven’t had the initiative to challenge them on it. Their claim is that the tank will rust from the inside out due to water in the fuel and that Tank Guard will absorb the water. Our tank was replaced 7 years ago. It was at least 25 years old and never leaked, but it didn’t look too great. At $75 I might object to it.

Small Law Survivor
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Re: Is "Tank-Guard" home heating oil warranty worth it?

Post by Small Law Survivor » Tue Jun 12, 2018 8:46 am

eddot98 wrote:
Mon Jun 11, 2018 11:11 pm
My fuel company only charges me $29.95 per year to add Tank Guard. I thought that was too much for a quart or so of some secret additive.
Does this include a $2,000 tank replacement warranty? ....

eddot98
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Re: Is "Tank-Guard" home heating oil warranty worth it?

Post by eddot98 » Tue Jun 12, 2018 9:55 am

Yes, whatever that’s worth.

CurlyDave
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Re: Is "Tank-Guard" home heating oil warranty worth it?

Post by CurlyDave » Tue Jun 12, 2018 10:03 am

I suspect that the additive they use is just iso-propyl alcohol.

Home heating oil is very similar to diesel fuel. Amazon or better yet, any truck stop will sell you a can of water remover for a lot less.

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dodecahedron
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Re: Is "Tank-Guard" home heating oil warranty worth it?

Post by dodecahedron » Tue Jun 12, 2018 10:08 am

If your tank leaks into the ground and contaminates the soil, the required environmental remediation could cost a whole lot more than $2,000.

I would consider proactive replacement or even better converting to gas if available.

Small Law Survivor
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Re: Is "Tank-Guard" home heating oil warranty worth it?

Post by Small Law Survivor » Wed Jun 13, 2018 9:28 am

dodecahedron wrote:
Tue Jun 12, 2018 10:08 am
If your tank leaks into the ground and contaminates the soil, the required environmental remediation could cost a whole lot more than $2,000.

I would consider proactive replacement or even better converting to gas if available.
Nope, no gas lines where I live.

How would I know when to replace an oil tank?

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dodecahedron
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Re: Is "Tank-Guard" home heating oil warranty worth it?

Post by dodecahedron » Wed Jun 13, 2018 5:48 pm

Small Law Survivor wrote:
Wed Jun 13, 2018 9:28 am
dodecahedron wrote:
Tue Jun 12, 2018 10:08 am
If your tank leaks into the ground and contaminates the soil, the required environmental remediation could cost a whole lot more than $2,000.

I would consider proactive replacement or even better converting to gas if available.
Nope, no gas lines where I live.

How would I know when to replace an oil tank?
Excellent question to which I don't know the answer. I am guessing our oil tank (installed by previous owners) was at least 28 years old when we had it inspected and decommissioned by a state-licensed environmental contractor.

Our timing was dictated by our decision to switch to natural gas (which was not available at time we bought the house, which included a brand new oil furnace installed in 1989.) By 2008, there were gas lines in our street and utility was offering to hook us up for free plus give us rebate on new high efficiency gas furnace, so we decided to switch to gas furnace and get the oil tank decommissioned.

In retrospect, our timing was very lucky. The environmental contractor excavated and sent soil samples from the soil adjacent to the tank to the state lab for testing and the measured contaminants were detectible but low enough not to require remediation. I am very glad we did not put off decommissioning the tank.

Wellfleet
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Re: Is "Tank-Guard" home heating oil warranty worth it?

Post by Wellfleet » Wed Jun 13, 2018 8:49 pm

Small Law Survivor wrote:
Wed Jun 13, 2018 9:28 am

How would I know when to replace an oil tank?
You really can’t tell. You could do a tank integrity test but probably costly for a residence. Your state environmental agency might have some guidance for homeowners with oil tanks. An outdoor tank is a much higher risk.

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mrc
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Re: Is "Tank-Guard" home heating oil warranty worth it?

Post by mrc » Thu Jun 14, 2018 6:05 am

Small Law Survivor wrote:
Wed Jun 13, 2018 9:28 am
dodecahedron wrote:
Tue Jun 12, 2018 10:08 am
If your tank leaks into the ground and contaminates the soil, the required environmental remediation could cost a whole lot more than $2,000.

I would consider proactive replacement or even better converting to gas if available.
Nope, no gas lines where I live.

How would I know when to replace an oil tank?
Just before it begins leaking heavily, sort of like knowing when to sell equities. :greedy

In my state, the contamination is a serious concern, triggers state and local government requirements, and is expensive to remediate. We played it safe and removed an underground tank that was ~28 years old before an environmental concern arose. Replaced with an above ground tank that we can at least keep an eye on for corrosion, etc. No natural gas service in this area. I would jump on a free gas hookup in a heartbeat if we could.

According to tank-guard website:
The useful life of an oil storage tank is impossible to predict, but the most common cause of oil tank failure is from internal corrosion which is caused by water condensation that collects on the tank bottom.
Sure sounds like the product binds with free water which will corrode the tank from the inside out. The high cost is profit and covers warranty claims.
If it’s not long term it’s small talk

eg1
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Re: Is "Tank-Guard" home heating oil warranty worth it?

Post by eg1 » Thu Jun 14, 2018 2:47 pm

Is your tank in your basement or underground?

If it is in your basement I wouldn't worry much about it. We have a tank that is about 40 years old. When I was getting our oil boiler replaced, I inquired about getting a new tank and was told that the tank we have could last 1 year or 10 years. There is no way to tell but I was told that since it is in our basement once it starts leaking we will know fairly quickly because of the smell and would need to replace fairly quickly. Newer tanks have double walls and should potentially last fovever. I will be replacing ours with one of these (http://www.roth-usa.com/products_dwt.cfm) when the time comes.

If your tank is underground and it is old, I would plan on replacing it sooner rather than later.

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