Insurance on your tanks?
- Thread starter pasafire
- Start date
azocean709
Member
I rent this place...my tank is covered under the Renter's Insurance...But...it is listed as the tank, and all the components...meaning filters, skimmer...ect.. does not cover fish...lr and all that....BUT ...the loop hole is....that my tank is less amount of money...worth wise than the price they would give me if it was to get destroyed....and lets put it this way....i could go from a 55 gallon set up to prolly a 250 gal set up fully stocked with all the goodies!.
birdy
Active Member
If something were to happen to your home like a fire or natural disaster your home owners Ins. should cover the tank/stand/equipment, they will not cover anything in the tank. Your Ins should also cover any damage the tank should do to your house should it break.
I have never heard of anyone having ins that covers the animals in the tank, you would probably have to talk to a special Ins company that covers animals and even then I would think it would be a long shot, but I guess with enough money you could probably insure anything. Most likely wouldn't be worth it.
I have never heard of anyone having ins that covers the animals in the tank, you would probably have to talk to a special Ins company that covers animals and even then I would think it would be a long shot, but I guess with enough money you could probably insure anything. Most likely wouldn't be worth it.
space_geek
Active Member
I don't think they will cover it. I think a very long time ago, someone posted a thread and they were very angry because their insurance wouldn't cover their tank. Can't remember who it was though...
Adam
Adam
pasafire
Member
Originally Posted by Jer4916
my insurrance covers my tank if anything happens...i have it valued at $15k ...so if anything happens to my house.....
im gonna have some fat pockets....lol
and my fish will be dead
but i can always buy more!
~Chris
So basically I just WAYYYY overvalue it on my homeowners insurance.... But what if the tank overflows because of malfunction and ends up damaging my floor? Thats what I was a little more worried about
my insurrance covers my tank if anything happens...i have it valued at $15k ...so if anything happens to my house.....
im gonna have some fat pockets....lol
and my fish will be dead
but i can always buy more!
~Chris
So basically I just WAYYYY overvalue it on my homeowners insurance.... But what if the tank overflows because of malfunction and ends up damaging my floor? Thats what I was a little more worried about
seahorse11
Member
Pasafire.....thats an excellent question. I never thought about insurance on my tank or what would happen should the tank break or leak and cause damage. I am defin gonna check into it.
Jer4916, When you listed your tank on your insurance policy, did you have to send in pics of the equipment and the list value for everything? Did the ins comp give you a hard time?
Jer4916, When you listed your tank on your insurance policy, did you have to send in pics of the equipment and the list value for everything? Did the ins comp give you a hard time?
merredeth
Active Member
Originally Posted by seahorse11
Pasafire.....thats an excellent question. I never thought about insurance on my tank or what would happen should the tank break or leak and cause damage. I am defin gonna check into it.
Jer4916, When you listed your tank on your insurance policy, did you have to send in pics of the equipment and the list value for everything? Did the ins comp give you a hard time?
I will almost bet the insurance company will pay a claim if you are courageous enough to file one. The real problem comes after they pay the claim. More than likely you will be cancelled. Anyone filing claims for any reason seems to get cancelled anymore. Read various websites on the internet and you can see the horror stories homeowners are experiencing.
This problem has increased severely in the last five years. First it was 9-11 that the insurance industry claimed was overburdening their profitability. Then the recent increase in mold damages and hurricanes added to the alleged problem. Now the insurance is claiming we are in a crisis situation.
My suggestion to everyone is to take pictures of all your equipment and keep current prices of the items in a safe location and update it periodically. Make sure your homeowners has replacement coverage. That is the only way to protect the equipment only.
I live on a couple of acres and have a 9 foor deep swimming pool with a diving board. The insurance companies in Iowa require I have a six foot high fence around my pool or I pay through the nose - to the tune of an extra $500.00 per month! Now remember, I live in the country and don't have anyone around me, but I'm still penalized, even though the chances of a kid getting lost in a neighborhood and falling in my pool are next to zero. If I lived in the city and tried to have a pool without a fence no one would insure me.
My solution is to error on the side of caution since I don't want a fence and just buy an umbrella policy should something ever happen with regard to my pool 'liability.'
Insurance companies can and do pick and choose what they will cover. My husband and I owned the largest sound and light show in the state of Iowa for over 25 years and just sold that business a few years ago. This business not only did public functions, but we also worked with a lot of big name bands as our lighting and PA equipment was adequate for arena venues. Our business insurance would insure the contents of our trailer and equipment but no CDs or albums - even ones that are collectors items, discontinued and irreplaceable. My auto insurance had to cover my motorhome and the contents in it. Any music would be lost forever, end of story.
Another friend breeds horses and they take their horses to shows. She can insure her horses against death and just about anything else. However, she pays through the nose for it. Some horses just aren't worth the insurance premium, and some are. I don't know who she uses, but I have yet to see anyone offer coverage for aquarium life.
I've digressed enough about insurance companies. They just tick me off because I have paid through the nose for years and will have to continue to do so.
Denise M.
Pasafire.....thats an excellent question. I never thought about insurance on my tank or what would happen should the tank break or leak and cause damage. I am defin gonna check into it.
Jer4916, When you listed your tank on your insurance policy, did you have to send in pics of the equipment and the list value for everything? Did the ins comp give you a hard time?
I will almost bet the insurance company will pay a claim if you are courageous enough to file one. The real problem comes after they pay the claim. More than likely you will be cancelled. Anyone filing claims for any reason seems to get cancelled anymore. Read various websites on the internet and you can see the horror stories homeowners are experiencing.
This problem has increased severely in the last five years. First it was 9-11 that the insurance industry claimed was overburdening their profitability. Then the recent increase in mold damages and hurricanes added to the alleged problem. Now the insurance is claiming we are in a crisis situation.
My suggestion to everyone is to take pictures of all your equipment and keep current prices of the items in a safe location and update it periodically. Make sure your homeowners has replacement coverage. That is the only way to protect the equipment only.
I live on a couple of acres and have a 9 foor deep swimming pool with a diving board. The insurance companies in Iowa require I have a six foot high fence around my pool or I pay through the nose - to the tune of an extra $500.00 per month! Now remember, I live in the country and don't have anyone around me, but I'm still penalized, even though the chances of a kid getting lost in a neighborhood and falling in my pool are next to zero. If I lived in the city and tried to have a pool without a fence no one would insure me.
My solution is to error on the side of caution since I don't want a fence and just buy an umbrella policy should something ever happen with regard to my pool 'liability.'
Insurance companies can and do pick and choose what they will cover. My husband and I owned the largest sound and light show in the state of Iowa for over 25 years and just sold that business a few years ago. This business not only did public functions, but we also worked with a lot of big name bands as our lighting and PA equipment was adequate for arena venues. Our business insurance would insure the contents of our trailer and equipment but no CDs or albums - even ones that are collectors items, discontinued and irreplaceable. My auto insurance had to cover my motorhome and the contents in it. Any music would be lost forever, end of story.
Another friend breeds horses and they take their horses to shows. She can insure her horses against death and just about anything else. However, she pays through the nose for it. Some horses just aren't worth the insurance premium, and some are. I don't know who she uses, but I have yet to see anyone offer coverage for aquarium life.
I've digressed enough about insurance companies. They just tick me off because I have paid through the nose for years and will have to continue to do so.
Denise M.
madison
Member
I just went thru this 4 months ago...my fish guy was doing an addition to my 180g and removed the center plank of the stand...when he was done installing the 6ft x 4ft x 4ft sump/refg he forgot to replace the center support....when adding the water back into the tank...the water pressure cause the center top piece of glass that holds the front and back piece of the glass together to crack all the way from front to back.
Long story short I called my home owners insurance...they said that since there was no earthquake reported during the last 30 days or any other natural disasters the tank itself is not covered...but if the tank leaked and ruined my wood floors or furniture...then they would cover that.
In order for your tank to be covered...an agent would have to come out and appraise the entire set up...life stockes will not be covered.
Needless to say...it all depends on how much premium you are willing to pay...
Long story short I called my home owners insurance...they said that since there was no earthquake reported during the last 30 days or any other natural disasters the tank itself is not covered...but if the tank leaked and ruined my wood floors or furniture...then they would cover that.
In order for your tank to be covered...an agent would have to come out and appraise the entire set up...life stockes will not be covered.
Needless to say...it all depends on how much premium you are willing to pay...
dvst8r
Member
Originally Posted by AzOcean709
I rent this place...my tank is covered under the Renter's Insurance...But...it is listed as the tank, and all the components...meaning filters, skimmer...ect.. does not cover fish...lr and all that....BUT ...the loop hole is....that my tank is less amount of money...worth wise than the price they would give me if it was to get destroyed....and lets put it this way....i could go from a 55 gallon set up to prolly a 250 gal set up fully stocked with all the goodies!.
not if they were to see this site
I rent this place...my tank is covered under the Renter's Insurance...But...it is listed as the tank, and all the components...meaning filters, skimmer...ect.. does not cover fish...lr and all that....BUT ...the loop hole is....that my tank is less amount of money...worth wise than the price they would give me if it was to get destroyed....and lets put it this way....i could go from a 55 gallon set up to prolly a 250 gal set up fully stocked with all the goodies!.
not if they were to see this site
merredeth
Active Member
Originally Posted by Madison
I just went thru this 4 months ago...my fish guy was doing an addition to my 180g...
Long story short I called my home owners insurance...they said that since there was no earthquake reported during the last 30 days or any other natural disasters the tank itself is not covered...but if the tank leaked and ruined my wood floors or furniture...then they would cover that.
Needless to say...it all depends on how much premium you are willing to pay...
Your LFS should be insured and should be the one covering any and all damages since he was the one modifying the tank.
Denise M.
I just went thru this 4 months ago...my fish guy was doing an addition to my 180g...
Long story short I called my home owners insurance...they said that since there was no earthquake reported during the last 30 days or any other natural disasters the tank itself is not covered...but if the tank leaked and ruined my wood floors or furniture...then they would cover that.
Needless to say...it all depends on how much premium you are willing to pay...
Your LFS should be insured and should be the one covering any and all damages since he was the one modifying the tank.
Denise M.
puffer24/7
Active Member
i agree^
dejaco
Member
Under most homeowners policies you are given and option at what value to set on "contents". If you were to go through your home and see that all your electronics,
furniture, artwork, clothing, jewelry, etc were assigned a value and added up you would need to set the insured amount to that or take a blanket replacement cost policy.
Inventory list goes to ins. agent who then comes out to document (photo) big ticket items.
That is how it works for us. My tank has cuased us to rethink contents value.
Hope this helps. I was told it'sis the overall value of contents claimed which effects your rates.
furniture, artwork, clothing, jewelry, etc were assigned a value and added up you would need to set the insured amount to that or take a blanket replacement cost policy.
Inventory list goes to ins. agent who then comes out to document (photo) big ticket items.
That is how it works for us. My tank has cuased us to rethink contents value.
Hope this helps. I was told it'sis the overall value of contents claimed which effects your rates.
jer4916
Active Member
Originally Posted by Pasafire
So basically I just WAYYYY overvalue it on my homeowners insurance.... But what if the tank overflows because of malfunction and ends up damaging my floor? Thats what I was a little more worried about
no my tank actully cost me around $15k, 11k without live stock.
So basically I just WAYYYY overvalue it on my homeowners insurance.... But what if the tank overflows because of malfunction and ends up damaging my floor? Thats what I was a little more worried about
no my tank actully cost me around $15k, 11k without live stock.
jer4916
Active Member
Jer4916, When you listed your tank on your insurance policy, did you have to send in pics of the equipment and the list value for everything? Did the ins comp give you a hard time?
No I just had to give them a receipt of everything so they know i wasn't over protecting my tank.
its quote for what its worth and nothing more... i just have a stellar water insurrance plan ..hehe
~Chris
No I just had to give them a receipt of everything so they know i wasn't over protecting my tank.
its quote for what its worth and nothing more... i just have a stellar water insurrance plan ..hehe
~Chris
mamie
Member
I live on a second floor apt. I recently checked with my insurance co. to see if my tank cracked would the insurance cover the damage caused by this. They said no. I inquired about coverage for this and after checking with the underwriters they stated they have none. Even tough I have replacement costs on my policy. I am still looking for coverage.
Linda
Linda
madison
Member
Your LFS should be insured and should be the one covering any and all damages since he was the one modifying the tank.
Actually that's why I am in a 300g now
...the guy was pretty shook up about the whole thing too....he applied $4.5k towards the new setup and he also stored all the corals and fish and LR's for me till the 300g was done cycling.
He is such a sweetie!
Actually that's why I am in a 300g now
He is such a sweetie!