Homeowner's

gpkozmp

gpkozmp

Member
Okay got a quick question about homeowner's insurance;
I was just wondering if anybody has claimed their tanks for their homeowner's insurance?
The reason I ask is well if something were to happen where the tank cracks and leaks all over the place, flooding your house or if somehow a fire starts and your tank is the cause of it the insurance company might not cover it if it wasn't on your plan. So my question is stated above if anybody could just indulge me on the subject.
 
t316

t316

Active Member
I did not add any special coverage, but inquired about this very thing. I was worried that the Ins. co. would treat it as a "flood" and not cover structural damage to the house. They advised me that, in the event of a tank burst/fire/etc, the house structure, hardwood floors, and anything else in the house is fully covered. However, the tank itself and/or it's contents (fish/coral) are not covered. That was sufficient enough for me.
 
meowzer

meowzer

Moderator
Originally Posted by T316
http:///forum/post/3215721
I did not add any special coverage, but inquired about this very thing. I was worried that the Ins. co. would treat it as a "flood" and not cover structural damage to the house. They advised me that, in the event of a tank burst/fire/etc, the house structure, hardwood floors, and anything else in the house is fully covered. However, the tank itself and/or it's contents (fish/coral) are not covered. That was sufficient enough for me.
HMMMMM....I also inquired about this...My insurance company told me ALMOST the same thing
The exception is that my tank and all equipment ARE covered....inhabitants are not
 
btldreef

btldreef

Moderator
I have renter's insurance and my tank/lighting/fish/coral/etc are covered. For the fish and coral I must have receipts of what we paid for proof that they're in there.
They'll cover equipment such as the lighting and the protein skimmer in case of fire as well. It wasn't that much more expensive either.
 
jaodissa

jaodissa

Member
Why would your fish tank not be covered? Any and all of our belongings would be replaced up to a certain value if we were to lose anything to fire damage or flood damage. Including fish tanks. Heck If I lose my wedding ring I can claim it on my home insurance pay the deductible and they will replace it.
 
t316

t316

Active Member
meowzer may be right, it's been a few years ago since I had this conversation. Maybe the tank/equip. are covered, but I do remember for sure that my livestock is not. I'm sure you can have them covered, but in my case, I don't.
 
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lilredwuck

Guest
I remember a while back a guy on the forums, not sure if this one or not, had a saltwater tank in his house and his house caught fire and busted his tank. He said his insurance company was "Taking very good care of him when it came to his saltwater tank."
I suppose you should run a "What if" by your insurance. Some questions I might ask would be.....
[list type=decimal][*]What IF I had a tank? Would it increase my rates? If so how much? What about the deductable?
[*]IF I had a tank, and it matured, having 1000's of $ in livestock, would it be covered, is it covered pennies on the dollar?
IF the tank was the problem that caused the claim, i.e.-flooding, started fire, etc. Is it covered?
What if my tank overflows and starts a fire, the fire breaks the glass flooding the house, then mold growing everywhere, is that covered. (You probably shouldn't ask this, but I thought it was funny)
[/list type=decimal]
Just remember this is an insurance company. Any reason to increase your rates they will due, and if something should happen, any reason to get out of giving THEIR money away.
 
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lilredwuck

Guest
WOW 6 responses before I could even type mine out!!!! Now that's a fast response time.
 
meowzer

meowzer

Moderator
Just keep a list of everything you have in your home (not just tank related)
I have "replacement cost" in my homeowners policy.....does not matter how old the item is, they replace it at today's value
 
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lilredwuck

Guest
Ok guys here is the deal. What is worth more money????? A brand new fish tank and it's inhabitants, or a VERY mature old tank and inhabitants? Let's say 10 years old.
Which would cost more to replace? What would you rather have covered?
Just for the sake of arguement, well say somewhere around a 75-90 gallon (reef) tank. Not too big, not too small.
 
meowzer

meowzer

Moderator
Originally Posted by lilredwuck
http:///forum/post/3215743
Ok guys here is the deal. What is worth more money????? A brand new fish tank and it's inhabitants, or a VERY mature old tank and inhabitants? Let's say 10 years old.
Which would cost more to replace? What would you rather have covered?
Just for the sake of arguement, well say somewhere around a 75-90 gallon (reef) tank. Not too big, not too small.
I don;t get it....first of all, both would be covered, second....if you have replacement value insurance it doesn't matter what it cost 10 years ago...only what it cost today
 
jaodissa

jaodissa

Member
I think he means more about the corals. If you go down to the LFS and buy a frag for 10 bucks it can grow into something much more valuable. Would your insurance be covering the 10 dollar item or the 100 dollar item it's now worth.
 
meowzer

meowzer

Moderator
Originally Posted by Jaodissa
http:///forum/post/3215746
I think he means more about the corals. If you go down to the LFS and buy a frag for 10 bucks it can grow into something much more valuable. Would your insurance be covering the 10 dollar item or the 100 dollar item it's now worth.
I really do not think an insurance company would cover a live anything

do we insure our cats and dogs?????
 
jaodissa

jaodissa

Member
idk. I have health insurance on my dogs. I bet I could get away with claiming my dog on it to though. I mean most people look at pets as property anyways.
 
t316

t316

Active Member
Meowzer, are you sure about that "replacement value" clause/definition? Reason I say, about 5 yrs ago, my garage was broke into, lots of tools stolen. I thought that was the case as well. Insurance Co was very nice, called and had me list every single, tiny tool I could think of that was gone. Even called back a couple weeks later to make sure I had thought of everything.
I thought it was funny they kept asking what I "paid" for each item new, when I bought it. All of the things from years ago, they had me just guess at the year I bought them.
Then when the check came, it was less than half of the value I listed, and I had been completely honest on every single item. They said "we have a chart that we go by, and everything depreciates as each year passes". By the time they got done, some of the really old (age) tools were of no value at all, according to them. I was like
, Craftsman even has a lifetime Warranty, you have got to be kidding.
 
scsinet

scsinet

Active Member
Insurance companies do have exotic pets policies that you can get, but I don't know how coverage works. I do know that fish do not count.
My insurance company told me the same things as Meowzer...
- the fish tank failing and flooding the house is NOT a flood (I asked them this very question too). It's akin to a broken water pipe. Flooding is a natural disaster scenario only.
- The damage to the house is covered, like anything else, minus the deductible of course.
- Everything nonliving associated with the tank is covered. The fish are not.
The one thing the agent cautioned me is that if you have a big tank, you should consider adjusting the coverage amounts for the home's contents, since most insurance companies don't assume thousands of dollars worth of fish tank being in the "average" home.
 
meowzer

meowzer

Moderator
Originally Posted by T316
http:///forum/post/3215757
Meowzer, are you sure about that "replacement value" clause/definition?
.
YUP...I have had to use it 2x...once for a new roof....covered 100%...no depreciation, and once we had a laundry room flood into our back living room (my now fish room) All I had to do was list the item, get the cost it would be today, and I got all the values for today.
Originally Posted by SCSInet
http:///forum/post/3215761
I insure my dog.
Do you mind me asking for what?????
 
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lilredwuck

Guest
Remember, this is insurance companies. Always read the "fine print". Sorry dealt with many of insurance companies, while there are good ones, there are some definant BAD ones. I just recovered a deductable I paid, from a guy using a suicide lane to pass then when he was out of roadway smashed into me, and his insurance DENIED the claim. My insurance company didn't understand and took care of me, minus deductable then sued his insurance. Point of it is NOTHING IS CLEAR CUT.
BTW-I like my insurance company, but the fly by night, sucks. Also when you call an insurance company and they rattle of 15 different company names, have fun.
 
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lilredwuck

Guest
People insure their dogs like you would your kids. Medical expenses are expensive for humans as well as it is for animals. Some people have dogs/cats instead of kids, or in place of kids, ie medical problems/unable to concieve. And if something were to happen to the animal, say needing a $50,000 surgery, then they could have it done. Insurance is "just in case"
LOL YOU GUYS TYPE TOO FAST FOR ME!!! LOL
 
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