IS YOUR TANK INSURED?????

[Glenner’sreef]

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 outlook 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....

Quick clarification: that photo is/was not my tank. Grabbed that off of images just to assist the topic. My tank is fine, the very reason I was asking the Amfam rep every question I could think regarding coverage.

 

[ZoWhat]

Quick clarification: that photo is/was not my tank. Grabbed that off of images just to assist the topic. My tank is fine, the very reason I was asking the Amfam rep every question I could think regarding coverage.

If the Rep says your tank is covered I would get it in writing

A phone convo of them saying , "Oh yeah, it covered" is not legally binding in any civil court.

Insurance Companies have extremely well paid Lawyers to get out of paying just about any claim they want to.

Bad press & good, honest Judges keeps most Insurance Companies from being pure evil


.

 

[mdb_talon]

So I’m guessing that every/many insurance companies are different. American Family had both my wife and I on the phone earlier this week. The rep talked to us about personal property insurance included in our policy. We chose the highest at $225,000. This covers all of our personal property in and outside of our home. I specifically asked about my 180 gallon tank with equipment and livestock. We too would have a $1000 deductible. There was no “special rider” discussed.
She asked me to get an appraisal by a aquarium professional. Which I will do soon.

I would make sure you know where in the policy it says that and understand the exclusions and exceptions(if they say they are none then i eould just laugh). All insurance companies are different, but what you describe is far from a normal sort of personal property coverage for any company(and specifically American Family of which i am familiar). To cover all items either inside or out of your home then you must have an "open peril" which is not the standard but also not all that unusual. However even with open peril contracts you are going to have per item claim limits with AmFam. I learned that the hard way with them when my wifes wedding ring was lost. We had an open peril contract and were told named items or riders for things like jewelry were unnecessary because they were all covered even for things like loss. Turns out it was covered but their payout limit was $2,000. If we would have instead added the jewelry as named item we could have insured for the full amount and not subject to their $2k limit. That was about a $5000 mistake on my part!

 

[ZoWhat]

I would make sure you know where in the policy it says that and understand the exclusions and exceptions(if they say they are none then i eould just laugh). All insurance companies are different, but what you describe is far from a normal sort of personal property coverage for any company(and specifically American Family of which i am familiar). To cover all items either inside or out of your home then you must have an "open peril" which is not the standard but also not all that unusual. However even with open peril contracts you are going to have per item claim limits with AmFam. I learned that the hard way with them when my wifes wedding ring was lost. We had an open peril contract and were told named items or riders for things like jewelry were unnecessary because they were all covered even for things like loss. Turns out it was covered but their payout limit was $2,000. If we would have instead added the jewelry as named item we could have insured for the full amount and not subject to their $2k limit. That was about a $5000 mistake on my part!

Nothing like buying a wedding ring, twice

 

[Joe31415]

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

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.

 

[Lbrdsoxfan]

Home owners with the proper kicker covers it all. It does not cover self ignorance or stupidity, just honest failures!

I'm in Southern CA, Insurance doesn't want to cover squat.

 

[vintage detritus]

Hi. I'm the guy that your insurer calls when they can't figure out when an loss is covered by the policy. Like the guy in the commercial, I've seen it all - except aquarium losses. Homeowner's policies are not that much different between companies. Outcome depends on the specific facts. Here's my gut level, wine infused feeling without looking at an HO standard policy:

Kid's baseball: Covered, if it was an accident. Maybe covered if it wasn't. Depends on the definition of "insured" in the policy. If I recall, in California, it would be covered per law.

Cracking due to house settling: Could be a problem. Damage caused by settling is excluded in most policies.

Leaking: A word to avoid. Damage from leaking over a period of time is excluded. So if your sump plumbing has an unknown, slow leak, that new floor is on you. Otherwise, if you want coverage to replace your suddenly and rapidly leaking tank and dehydrated livestock, that leak was probably caused by a manufacturing defect, deterioration, or wear and tear - all excluded. On the other hand, you probably can get a new floor.

Loss to "livestock" - bad word. Livestock is excluded, as are pets. I would argue that a coral is not what most people consider livestock or even a pet. Maybe " aquarium decorations"? Funny thing is that your $1000 fish may not be covered, but your cheato ( a houseplant) would be.

Riders- never seen one on an aquarium. Generally fine jewelry, antiques, art work. Riders (endorsements) usually supplement short dollar limits in the standard policy - they just increase the amount of dollars available to cover your loss. E.g. the standard HO policy will only allow $15000 for that 500K painting on your wall. A rider won't help you if the damage is not not caused by a covered cause of loss. So tank cracking due to house settling? Still a problem with a rider. Tank loss due to house fire caused by faulty tank lighting? Tank and all hardware would be covered, with or without rider.

Tip: Read your Policy, kids. If I can do it all day long, you can invest an hour. If you have 500K home and a 300K policy, its best to find out before the fire.

And yes, your HO policy does cover your own stupidity, along with "acts of God". That's what it's there for.
.

 

[ZoWhat]

I'm in Southern CA, Insurance doesn't want to cover squat.

That's bc Cali is falling into the Pacific Ocean sometime down the line.

Nevada? beach front property

 

[Lbrdsoxfan]

Hmm... I previously had a rider through Farmers on the aquarium. Just on the 'valued' aquarium. Wasn't expensive. But post 94' Northridge quake they asked and I delivered. Different policy, different house. They didn't ask, I didn't care. If the tank water hits the floor in my current house out of the piping and not a professional aquarium setup it's on me. Tank seam pops, they will pay. That's from my agent.

 

[ZoWhat]

That's from my agent.

Words flowing out of a mouth is all fun n games until the rubber meets the road

"OH! Did I say that? Prove it..."

Insurance biz model: make funny entertaining commercials to ease the pain of asking a lot of money for rates while making excuses when the client needs a claim. Take in ALL da money and pay out as lil as possible.


.

 

[Lbrdsoxfan]

Words flowing out of a mouth is all fun n games until the rubber meets the road

BTDT. House fire with a lot else to say that's not THIS forum friendly. In the end I was paid, and a licensed contractor is out of biz.

Side note, don't block fire hydrants in CA, it can bite you in the butt.

 

[Lbrdsoxfan]

P.S. I chuckle at a 800k valued policy... Most updated 50 year old ranch houses in my neighborhood value at 900-1.2 mil. Unlike most of the country, if you don't pay for a specific rider for certainty items, there are so many insurance loopholes in this state, it's insane. Hell, I had to think about it, besides the aquarium, I have a additional rider for my backyard pool due to being within a few miles of a fault. No rider, no coverage for a shaker that would crack the pool membrane.

 

[Cjeippert]

I. Is your reef/fish tank insured???

a. Who with?
b. Does your “personal property” cover it?

That is not your tank, is it?

 

[Joe31415]

That is not your tank, is it?

that photo is/was not my tank

 

[Manny’s Reef]

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


.

This is not completely true. As an attorney, I'm quite familiar with the legalese written into many of our policies. It is possible that my occupation helped in pushing my claim through with my insurance provider. I admit, I made it known from the onset of my claim that I was an attorney.

I think its quite logical and common sense that faulty equipment will not be covered by any type of insurance. It simply would make absolutely no sense for any provider to cover faulty equipment.

Under any homeowners insurance, damage to your home caused by faulty equipment will be covered. That's exactly what the insurance is for: to cover accidental damages. (stipulations and special case circumstances exist for areas at higher risks for natural disasters)

SPECIAL INSURANCE RIDER IS NOT REQUIRED to cover your tank in case of a tank crash. To say anything different is to be misinformed. How do I know? Because I literally just went through this process with my own insurance provider and had all of my equipment replaced. Yep! Big fat check cut out in my name. Any one who read the quoted response please disregard as misinformed.

I have to repeat myself here. A special insurance rider is not necessary to cover accidental damage to or caused by your aquarium. Yes I am speaking from first hand experience. Yes I am speaking from experience as an attorney.

The key issue will be determining what caused the breakage. If the crash was in any way shape or form caused by user negligence, the insurance will not cover your tank/equipment. However, if your crash is caused by circumstances out of your control, then your insurance will cover your equipment. For example, if your Christmas tree catches fire due to a faulty outlet, and two of your living spaces are burned down, tank included, this is the scenario where you insurance will likely cover your loss. However, if you tank crashed and after an inspection it is determined that your tank was not level, you're at a loss. Now, where things can get iffy is where the cause of the crash cannot be determined. This is where a reputable insurance agency will shine. If what caused the crash is indeterminable, then your insurance may or may not cover your loss. Absent a specific rider mentioned above, the agency has discretion whether to cover you or not. Fortunately, I have an insurance provider who has been providing veterans with quality service for decades. In my specific situation, the cause of the crash was indeterminable. From the insurance's perspective, they could not point to anything that I had done wrong that caused the crash. So, they covered a brand new setup.

Lastly, you're correct that things like jewelry are not covered absent a special insurance rider. This is also pretty basic information which most who have dealt with homeowners insurance should know. I have a rider for our rings, my computers, and my guitars. I pay $8.57 per month for $25,000 in coverage, with a $500 deductible.

Yes it varies based on your insurance provider. However, if your provider does not provide the coverage you seek, find one that does.

Let me add that if your provider does offer a specific rider, and it's within your budget, then this is obviously the best approach. I understand that not everyone has a legally trained mind and most would not know where to pushback should it come to it.

 

[Manny’s Reef]

If the Rep says your tank is covered I would get it in writing

A phone convo of them saying , "Oh yeah, it covered" is not legally binding in any civil court.

Insurance Companies have extremely well paid Lawyers to get out of paying just about any claim they want to.

Bad press & good, honest Judges keeps most Insurance Companies from being pure evil


.

This is so wrong.

 

[Manny’s Reef]

Hi. I'm the guy that your insurer calls when they can't figure out when an loss is covered by the policy. Like the guy in the commercial, I've seen it all - except aquarium losses. Homeowner's policies are not that much different between companies. Outcome depends on the specific facts. Here's my gut level, wine infused feeling without looking at an HO standard policy:

Kid's baseball: Covered, if it was an accident. Maybe covered if it wasn't. Depends on the definition of "insured" in the policy. If I recall, in California, it would be covered per law.

Cracking due to house settling: Could be a problem. Damage caused by settling is excluded in most policies.

Leaking: A word to avoid. Damage from leaking over a period of time is excluded. So if your sump plumbing has an unknown, slow leak, that new floor is on you. Otherwise, if you want coverage to replace your suddenly and rapidly leaking tank and dehydrated livestock, that leak was probably caused by a manufacturing defect, deterioration, or wear and tear - all excluded. On the other hand, you probably can get a new floor.

Loss to "livestock" - bad word. Livestock is excluded, as are pets. I would argue that a coral is not what most people consider livestock or even a pet. Maybe " aquarium decorations"? Funny thing is that your $1000 fish may not be covered, but your cheato ( a houseplant) would be.

Riders- never seen one on an aquarium. Generally fine jewelry, antiques, art work. Riders (endorsements) usually supplement short dollar limits in the standard policy - they just increase the amount of dollars available to cover your loss. E.g. the standard HO policy will only allow $15000 for that 500K painting on your wall. A rider won't help you if the damage is not not caused by a covered cause of loss. So tank cracking due to house settling? Still a problem with a rider. Tank loss due to house fire caused by faulty tank lighting? Tank and all hardware would be covered, with or without rider.

Tip: Read your Policy, kids. If I can do it all day long, you can invest an hour. If you have 500K home and a 300K policy, its best to find out before the fire.

And yes, your HO policy does cover your own stupidity, along with "acts of God". That's what it's there for.
.

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

 

[Manny’s Reef]

Do you need to specify




Do you need to have proof of the size of the tank and all equipment used?
I'm sure they don't want to unknowingly replace a 75g tank with a fully automated 300g designer tank.

They will send someone out to assess/verify the damages. Likely, it will be the owner of a reputable LFS. This was the case in my situation. Everything was inventoried. Then the inventory was sent to the insurance, who sent it to me for approval.

 

[Manny’s Reef]

This is very much the explanation I was hoping for.
Thanks!

That explanation he provided you is flawed in so many levels. Please disregard what it says.

 

[Camaro Show Corals]

This is a great thread to tell my story.
This January will mark the 3 year anniversary of my infamous tank fire. I believe it was January 10th a Monday, I had gone back to school Sunday night like always after checking the tanks abs spending the weekend at home which is only about 15 minutes from house but because of my golf scholarship I dorm. My dad was on a business trip that week so it was just my mom and my dog at home my 16 year old chocolate lab Charlie. At about 6am my mom was getting ready for work and smelled something burning so she came out and started walking around the house and couldn’t find a cause until she got to our TV room which has French doors that were closed that she opened and engulfed her in thick black smoke. My heavy duty $50 surge protector with only 3-4 things plugged in that would not fit in my apex had caught on fire and practically melted. I lost my entire tank $50k of high end and rare coral and rare fish like my $500 Hawaiian golden dwarf eel. It was about a $200k restoration on the house biased on the restoration company even though you could probably have done it for $50k yourself if you know what I mean. The whole house had smoke damage. All livestock was covered but I was only given frag value so for example I had a mini colony of Mattv rainbow that had 3 1” branches and let’s say I sell for $300 a frag so I valued at $900 I was only given $350 for what I paid for the original frag, but for zoas I was paid per polyp price which worked out good in my favor. On top of all this my dog died a week and a half later and the restoration company killed all my freshwater fish valued at $3k when they were using some sealer which we told them over and over how careful they have to be with the other tanks and what to do.