IS YOUR TANK INSURED?????

BRS
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State Farm told me any damage to my apartment by my tanks would be covered under renter's insurance. However, the equipment and livestock probably isn't covered
 
www.dinkinsaquaticgardens.com
I believe what I stated stands for how it's handled in Ohio. so I can only speak to that.

My statements are about 5yrs old. That's the last time I checked on covering my $10,000 tank and equipment with an actual face to face meeting with my Ins Rep (IMAGINE THAT, OMG personalized contact, run away GenZ'ers, you might catch the sniffles)

Message given to me: want to cover your tank and equipment? Buy an insurance rider...

How it's handled in other States is outside my knowledge and my personal concern TBH.
 
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zoa what said:
So wait.... the pic above actually happened in your home? Is this an ongoing insurance claim?

1) I'll be shocked if they actually cut a check specifically so you can replace your tank

2) if they do.... I'd be on the lookout of your policy being canceled next billing cycle. My brother in law claimed roof damage (covered) and then 4mos later discovered window water damage (2nd claim, covered)... then received a certified letter a month later that his Home Owners policy was being canceled in the next 10 days. Home Owners Ins Companies do not lose money, if you tip the scales too much, they'll cancel you in a New York minute. My brother in law had to SCRAMBLE to find a new policy inside 10 days for a $800k home. He was quite urinated off to say the least

Good luck. Hate to see stuff like this....
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My insurance company dropped me when they updated their dog policy, they first covered my Shar Pei/Shepard mix....they didn't like the shepard part, they were ok after I sent cute pictures. The company changed hands, then they didn't like the Shar Pei part and I got a letter in the mail saying my insurance would be cancelled.

The really sad part is I got the letter TWO days after I buried our sweet dog...which happened on Valentine's Day.

My flood insurance almost tripled in two years, due to Irene, Sandy, etc. etc. with ZERO claims on my part. I'm glad I was able to cancel that policy.
 
Tidal Gardens
What?
tank blowing up isn't covered nor replaceable?

but you said over the phone blahblahblah

Shocked Bad News GIF

Like a good neighbor...
We really don't care
(Jingle music)
 
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Manny’s Reef said:
Couldn't have put it in laymen terms better myself. Just one correction, kid's baseball - probably would never EVER be covered by any provider.

There is gold to your statement. LEAK - absolutely a word to avoid. Do not ever say leak when dealing with an insurance provide.r
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How would the carrier make the distinction between a baseball going through your front window and your aquarium? On the other hand, I have seen one HO policy that excluded anything having to do with broken glass.
 
www.dinkinsaquaticgardens.com
zoa what said:
family-feud-x.jpg


Not sure if you guys are having actual conversations with your Insurance Rep or you're just making a lot of assumptions.

So.... I specifically had a conversation with my Rep

Under my current policy, any damage to my house caused by a faulty tank would cover water damage to the house, minus a big FAT $1,000 deductible....

ANY LOSS TO THE TANK, ITS EQUIPMENT IS NOT COVERED.

If my tank is a $10,000 investment on my part and the tank blows up, the value of the tank is NOT covered.

$0 money coming my way to replace the tank under ANY claim

Damage to my house would be covered after the deductible.

In order to have the tank & equipment covered... a SPECIAL INSURANCE RIDER would have to be bought and paid for ON TOP of the cost of the current policy. Peroid.

An Insurance Underwriter would have to access the cost of the Rider... which is not cheap.

I cant even begin to guess what insuring a $10,000 tank&equipment would cost a year but suspect it would hundreds (yes hundreds) of dollars year. Maybe even break over $1,000/yr

All I know is if my 180g busts water damage all over our first floor, I won't live to tell about bc my wife will cut my beating heart out of my chest.

BTW... My wife's wedding ring was NOT covered until we purchased a special rider. I believe it's $100/yr to cover her ring


.
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Exactly!

Same with firearms. Those fall under personal property - such as a wedding ring. Our insurance covers up to $2,500 in personal property, and any additional items over and above that amount need a separate account or rider that you pay extra for. How much that rider costs, depends on how much personal property you want insured... what value.

You can insure anything. How much money ya got?
 
WWC
Joe31415 said:
That doesn't sound right. I've had million dollar riders that were on the order of 10 or 20 dollars a month.
My house is valued at about $220k and my insurance, both homeowner's and an umbrella together, are less than $700/yr. I can't see how you'd be paying a lower premium for a policy that covers a total loss and rebuild of your entire house than you would for a rider that would cover just your tank.

Years ago, I added a jewelry rider for my (now ex-) wife to cover her ring (including loss/theft of ring). IIRC, the ring had an assessed value of about $5k, and we paid something like seven dollars a month.
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That’s not how insurance works. The premium is based on risk. Homeowners insurance might be cheaper because they have mountains of data that says that the payouts are relatively low compared with how many premiums are being paid. How many people do you know who have had to have their home completely rebuilt?

The premiums to cover a tank might be higher because either it is assessed as a higher risk, or because they don’t have enough data.

As has been said earlier in this thread, I wouldn’t trust anything that the rep says unless it is in writing. Even then, I would be concerned unless it is in the form of a specific add-on to the policy (i.e. not just an email saying that you are covered).
 
Nutramar Foods
Joe31415 said:
That doesn't sound right. I've had million dollar riders that were on the order of 10 or 20 dollars a month.
My house is valued at about $220k and my insurance, both homeowner's and an umbrella together, are less than $700/yr. I can't see how you'd be paying a lower premium for a policy that covers a total loss and rebuild of your entire house than you would for a rider that would cover just your tank.

Years ago, I added a jewelry rider for my (now ex-) wife to cover her ring (including loss/theft of ring). IIRC, the ring had an assessed value of about $5k, and we paid something like seven dollars a month.
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Can I get the name of your homeowners
 
FishyFishFish said:
That’s not how insurance works. The premium is based on risk. Homeowners insurance might be cheaper because they have mountains of data that says that the payouts are relatively low compared with how many premiums are being paid. How many people do you know who have had to have their home completely rebuilt?

The premiums to cover a tank might be higher because either it is assessed as a higher risk, or because they don’t have enough data.

As has been said earlier in this thread, I wouldn’t trust anything that the rep says unless it is in writing. Even then, I would be concerned unless it is in the form of a specific add-on to the policy (i.e. not just an email saying that you are covered).
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That's pretty much how my flood insurance was. I bought the house and had homeowners around $800 and additional flood insurance around the same price. Mortgage company saw that the house was right next to Zone AE which is high risk and wanted full coverage. I could either get flood for possessions = the basement floods and my stuff gets wet or for the dwelling plus possessions = the whole house and all my stuff floats away.

Since my house stood during T.S. Irene and the flood maps are being redrawn, my mortgage company made the decision that I didn't need to carry flood insurance. I could still buy it if I wanted to, but Zone X is moderate to low risk.
 
My personnel experience is we had a house fire in 2009. The house was a total gut and renovate loss. We had a " replacement same or better" blanket policy. My tank was built in the wall of the dining room and was a total loss. The smoke damage was unreal. Way worse than flames fyi. My insurance company ( all state at the time ). Covered the tank and equipment based off what we could find and are as well as what I told them. Again we had a like or better replacement type policy. They did NOT COVER any of the live stock. Which at the time included many acans and stuff like that in a time where they were getting stupid money for corals like that. Anyway I estimated about 20k in live stock loss between corals and fish and live rock etc. That was not included in my blacker policy. I feel like the insurance company was MORE than fair and completely understood the live stock issue. In the end it worked out. If you think your live stock is or should be covered...get it in writing from your insurance co. I tried to out a separate Ryder on my policy since the fire and have not been able to. I'm not saying you won't be able to I am saying I have not found an ins. Co that would cover or prize livestock. Anyway all is good now. Just my 2 cents...
 
Manny’s Reef said:
Couldn't have put it in laymen terms better myself. Just one correction, kid's baseball - probably would never EVER be covered by any provider.

There is gold to your statement. LEAK - absolutely a word to avoid. Do not ever say leak when dealing with an insurance provide.r
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So if you are to never use the term “LEAK”. What word would you use in the case it is actually leaking?
 
Crazyfishguy said:
So if you are to never use the term “LEAK”. What word would you use in the case it is actually leaking?
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Suddenly and catastrophically failed. If I had to guess, I'd guess the problem with a "leak" is that it implies you had time to deal with it, but didn't.

A friend of mine had a roof leak, that resulted in a section of the ceiling falling, at his restaurant. Insurance wouldn't cover it because they could see, based on previous 'repairs', it had been going on for a while.
 
Tidal Gardens
no matter what they aren’t covering your corals or fish. if you’re into more exotics or have been growing a reef for years you’re screwed no matter what.
 
BRS

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