When the time comes to replace your domestic heating oil tank, it is important to know that you are getting value for money. But, unlike milk, potatoes or eggs, most people don’t buy or replace an oil tank regularly so it’s difficult to know what represents a fair price.
While there are no exact figures due to a variety of factors, let’s look more closely at the cost of replacing a domestic oil tank to give you a better idea about what to expect when it’s time to swap your existing tank for a new one.
How much does it cost to replace a domestic oil tank?
Prices vary depending on the volume, style and type of tank. However, the average cost of replacing an existing oil tank ranges from £1,500 to £4,000, according to figures from Checkatrade. An average oil tank replacement cost of £2,500 typically factors in the cost of a new tank and its installation, the removal of your existing one and minor modifications to your tank’s base.
The largest factors impacting on the price of your oil tank replacement are its capacity, the material it is made from and whether you opt for a single or double-walled tank.
How much does a heating oil tank cost?
The cost of your new heating oil tank will have a significant bearing on the replacement fee. At SG Tanks, our heating oil tanks start from £416 + VAT and are spread across a range of prices and sizes to suit your budget.
Let’s look at some example tanks:
Bunded steel tanks represent great value because they come with a protective layer against leaks and spills built in. The second wall is also a safety feature as it is drill-proof and defends your heating oil against would-be thieves.
Price: £1183.96 +VAT
This is a single-skinned plastic oil tank that represents great value while still protecting your oil. Plastic tanks are particularly good at protecting against extreme weather and because they are seamless they are less likely to leak.
Price: £525 + VAT
What is the process of replacing a domestic oil tank?
Our expert installation engineers are experienced and efficient and will work with you to ensure the best possible tank replacement. From our initial site visit, we can recommend the right size oil tank and arrange a replacement date. On the date of replacement, we will drain your existing tank of its remaining fuel, disconnect its lines and vents and then move it away.
We will then prepare the site for installation, ensuring the base is on sound footing and removing debris before installing your new tank. Once we have completed the installation we will reconnect your tank to the supply lines, test that everything is working as it should, transfer your remaining heating oil and take your old tank away with us.
How often does an oil tank need replacing?
The good news is that while not an insignificant expense, with good maintenance a domestic heating oil tank can last between 15 and 20 years. It is important to have your oil tank regularly serviced to ensure that you prolong its lifetime and that your heating system remains running effectively. This will save you money as you won’t be wasting resources running an inefficient heating system.
Why do you need to replace a heating oil tank?
There are many reasons why you may find yourself needing to replace your heating oil tank. Besides running beyond its expected lifetime, heating oil tank owners should look for the following indicators that a replacement is required:
- Physical damage to your tank – caused by extreme weather, corrosion and falling branches
- Water ingress in your tank – often caused by condensation building up; this causes oil to enter your boiler or freeze in winter which creates blockages
- Oil leaks, commonly caused by a cracked outer wall
- Faulty seals on lids and caps
- Swelling in plastic tanks and corrosion in metal ones
- Moving house and discovering that the previous owners haven’t looked after the tank
- Exposure to extreme frost and snow
- Tank fallen over due to a weakness in the base
What happens if your oil tank is leaking?
Neglecting to replace or repair your oil tank can result in leaking and environmental damage, which becomes your responsibility to put right – it is against the law to cause pollution. Rather than running the risk of contaminating your land, it is important to look for the signs and arrange for a replacement as soon as possible.
It may be possible to repair your tank rather than replace it, so a second opinion from a heating oil tank expert like one of our installation engineers is often a prudent approach as your tank ages.
At SG Tanks we specialise in the repair, replacement and installation of domestic heating oil tanks. If you would like to learn more about how we can help with your oil tank, contact a member of our team to arrange a consultation and quote.