Have your fuel oil people examine the tank for you. Know the tank's age. A 25 year old tank really doesn' t owe a thing to its owner. There is a startling increase in the number of home heating oil tank failures. These failures are not isolated accidents, but are part of a trend which we will see over the next few years.
Corrosion is inevitable with unprotected mild steel tanks.
Like those in the gasoline service stations they need to be replaced. Unless this is done, insurers could face expensive cleanup costs over the next generation as, one by one, they fail. York International has received reports of incidents from fire departments and insurance carriers that involve these furnaces. These reports concern fire and smoke damage that can occur when the deteriorated or loose cabinet insulation allows cabinet temperatures of the furnace to become elevated. When the installation of the furnace is close to a combustible material, such as drywall or paneling, these elevated temperatures may cause these combustible materials to smolder and possibly ignite.