Home buyers and real estate agents have recognized this potential liability and almost always do their diligence in discovering a buried oil tank – and insisting on its removal – before closing on the property. Thus, although you may have even unknowingly purchased a home with an old underground oil tank, it is in the best interest of the NJ seller to get it professionally removed as soon as possible. In many cases, a portion or all of the oil tank removal process can be covered by insurance and this article by the New Jersey Department of Banking and Insurance has information on those potential options. Even if a property owner does not plan on selling until some point in the future, putting off the oil tank removal increases the risk that the tank will leak and oil will cause contamination to the soil, prompting a necessary soil remediation, further costs, and a bigger headache.