Transpac Managers, Inc. - Downhole Tool Insurance
Transpac Managers, Inc. - Downhole Tool Insurance
Home About Us Services Get A Quote Form Library News Contact Us
Services - Downhole Tool Insurance™ Coverholder at LLoyd's
What is Downhole Tool Insurance?

Downhole Tools Downhole Tool Insurance covers the replacement cost of scheduled tools while they are below the rotary table in a pre-approved well. The tools are covered for loss or damage while downhole. Our main loss event occurs when the assembly becomes stuck in the well bore. Some other common terms used for this coverage are:
  • Lost in Hole Insurance
  • Lost in Hole Equipment Coverage
  • Lost in Hole Coverage
  • Specialty Drilling Equipment
  • Down hole Tool Insurance
  • Downhole Equipment Insurance
  • LIH Insurance
  • Stuck Drill Stem

What types of tools are covered?

Below is a list of the most common types of tools that we cover. If you have a special need for a tool not listed give us a call.
  • MWD
  • Motor
  • Drill Collar
  • Stabilizer
  • Sub
  • Jar
  • Drill Pipe
  • Drill Bit
  • Heavy Weight Drill Pipe

Who is eligible for coverage?

Coverage is available to anyone who owns tools, or is contractually obligated to safeguard the tools while below the rotary. In most cases the following parties are eligible:
  • Oil & Gas Operators
  • Directional Drilling Contractors
  • Tool Rental Companies
  • Tool Manufacturers

How do we charge?

We charge on a day rate basis for each day the covered tools are below the surface.
  • All rates on a day-rate basis
  • Multiple well discounts are offered.
  • Special rate plans for Directional Drilling Contractors

How are losses handled?

Losses are handled by claims adjusters specializing in the energy industry. This translates into quick turnaround times for you when it comes to proof of loss and payment. We know time is money, and unlike other contractors and insurance companies, we provide claim payments in days rather than months.

Will we be there when you need us?
  • We understand that drilling does not stop at 5:00 PM or on the weekends. We are available to assist you in getting coverage 24/7.
  • Upon receiving a completed application, we can get a quote in your hands in less than 24 hours.

Transpac Managers, Inc.
8140 Walnut Hill Lane, Ste. 302 Dallas, TX 75231
214.346.1512    Fax 214.346.1533

2020 Transpac Managers, Inc. All rights reserved.