5 Things You Think You’re Covered For… But Probably Aren’t

You don’t need insurance—until you really need insurance.

And by then, it’s usually too late.

We’ve seen it all: crews paying out of pocket for stolen trailers, wrecked rentals, and subcontractors who ghosted with no coverage of their own.

The worst part? Most of them thought they were covered.

Here are 5 things oilfield companies get wrong about their insurance—and how to fix them before it bites you:

1. “We’ve Got Auto Coverage… We’re Good”

Not if your guy borrows a buddy’s truck and wrecks it. Or if you send your admin to grab parts in her personal vehicle.

Without it, your company can get sued even if the vehicle wasn’t yours. And it’s not included in every policy by default.

Fix it: Ask your broker if it’s on your general liability or auto policy. If they go blank, find a new broker.

2. “The Equipment We Rented Is Covered… Right?”

Probably not. Most general liability policies don’t cover rented gear unless you added inland marine or a scheduled rider.

That boom lift you rented? The $8K trailer your guy flipped? You're on the hook unless you planned ahead.

Fix it: Make sure you have rented equipment coverage under inland marine—or better yet, get a policy that covers gear whether you own it or not.

3. “The Sub We Hired Has Their Own Insurance”

They said they did. You trusted them. Turns out their policy lapsed 6 months ago and you're the one on the job.

Fix it: Always collect and verify their COI (Certificate of Insurance). And check the effective dates. No coverage = no go.

4. “That Stuff Got Stolen—We’re Covered for Theft”

Not necessarily. Some policies only cover theft if there’s proof of forced entry. If a guy unhooks your trailer in the parking lot and drives off clean? That’s not “forced entry”—and you’re eating the cost.

Fix it: Make sure theft coverage includes offsite equipment and isn’t limited by a “forced entry” clause.

5. “We’ve Got $1 Million in Coverage—That’s Plenty”

Until someone loses a hand, a truck gets totaled, or you get named in a chain of lawsuits from a blowout you weren’t even on-site for.

$1M used to go far. Now? That’s a single lawsuit and a half-decent lawyer.

Fix it: Talk to your broker about umbrella coverage (aka excess liability). It’s cheaper than you think and can be the difference between a payout and bankruptcy.

Who We Recommend

[INSERT BROKER NAME] knows oilfield insurance. Not just “contractor” insurance. Not “general business” insurance. Oilfield.

They can walk through your current policies, find the gaps, and tighten things up—without trying to oversell you 10 policies you don’t need.

[👉 Get a Free Policy Checkup]Send in what you’ve got. They’ll let you know what’s missing and what’s solid.

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Final Word

Insurance isn’t just a cost. It’s either protection—or a false sense of security.

Make sure you’re not one claim away from a six-figure mistake.