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Tank Insurance

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CarlaW

Scarlet Begonias
Joined
Feb 8, 2004
Messages
7,670
Location
Columbia Falls, MT.
Hey there, I was just kind of wondering how everybody, or if everybody insures their tanks. Especially people with large tanks, 200+ gallons.
 

CarlaW

Scarlet Begonias
Joined
Feb 8, 2004
Messages
7,670
Location
Columbia Falls, MT.
My homeowners will only cover water damage due to busted pipes and such. I just spoke with my Ins. agent, and she was gonna look around. I think you have to get something like a rider attached to your existing policy. Not exactly sure how many dollars that is gonna be worth, but if you are like me, I've got close to 800 gallons downstairs that is gonna make one heck of a mess!!!!!!!11
 

Sealab2021

Puffer
Joined
Nov 4, 2003
Messages
142
Location
Tukwila, WA
is there really a company that issues policies?!? I know they issue them for cats and dogs, but saltwater inhabitants completely rely on electricity to live. And being anyone's electricity could go out at anytime due to storms or routine maintance by the electrical company and there is no recourse that the tank's owner has against them killing our fish, I doubt any decent policy would exist. Maybe renter's insurance, but that wouldn't cover 95% of the actual cost of the tank.
 

cubalz

Member
Joined
Feb 25, 2004
Messages
17
Location
Magnolia, Delaware
I have a 200 gal and a 40 gal in my living room as well as a 90 gal in one of our spare rooms. I have a rider on my homeowners policy that will pay for (at current new, replacement value) the tank, livestock, equipment, cabinetry, floors, carpet etc in event of tank breakage. I do believe that it costs us about $100.00 extra per year. I think that it is worth it as it replaces everything with new stuff with absolutely no depreciation.
 

Wink

Crazy Seahorse Lady
Joined
Nov 3, 2003
Messages
128
Location
Federal Way, WA
I've been working with personal insurance for more years than I am willing to admit to.

A standard renters or homeowners insurance policy will cover water damage due to "sudden and accidental" discharge of water. As a personal example, our cat knocked loose a clip on the lid of a canister filter and we ended up with 45 gallons of yucky filter water in our carpets, heat ducts, etc. After we paid our $250 deductible the insurance company paid all the rest (nearly $3,000.) in damages to our home and contents all on a replacement basis - this is the coverage most people will have.

The policy will not cover the item that malfunctions (assuming that the reason it malfunctioned is not a covered peril) but usually will pay the subsequent water damage. Most likely no coverage for a slow leak or damage that occurs over a period of time. You are not likely to have coverage for any losses due to electrical outage or damages caused by lack of water. Just the damage caused by the water or if the equipment causes a fire the fire damage would be covered.

Coverage for living creatures is very, very tricky - I do not know of a company that would provide that type of coverage (You might want to double check on yours, cubalz - it's possible you got real lucky but I'd make sure if I were you). Standard policies exclude anything alive - no coverage under any circumstances - period.

While contracts are fairly standard between companies and countrywide, it wouldn't hurt to call your insurance agent and make sure what your specific contract covers. Or try reading your policy if you want to be totally confused! :lol:

HTH

Vicky
 

Sealab2021

Puffer
Joined
Nov 4, 2003
Messages
142
Location
Tukwila, WA
cubalz said:
I have a rider on my homeowners policy that will pay for (at current new, replacement value) the tank, livestock, equipment, cabinetry, floors, carpet etc in event of tank breakage. I do believe that it costs us about $100.00 extra per year.
what about loss of tank incase of power outage or earthquakes?
 
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