Insurance for Aquarium Equipment, Fish, or Coral

[andrewkw]

My policy just says " Animals, birds or fish....$2,000 ". I never asked for clarification but I do remember them asking about pets when I signed up for the policy and mentioned fish. I feel like my home insurance is high enough as it is so I never asked for further clarification. The last thing I'd want is for it to go up because of the reef.

 

[Heliarc19]

My Allstate policy covers equipment and hardware just like anything else in my home.

 

[Fringe09]

My Allstate policy covers equipment and hardware just like anything else in my home.

Yes, it is covered but under what scenario? With my insurance company, fire and theft are covered. If my tank shatters, then the equipment and is not covered.

 

[Denisk]

For some of you who have insurance that covers livestock I would definitely double check that lol. I did extensive research and none offered to cover the fish and or the corals. Maybe I didn’t end up talking to a representative who had a lot of experience but I definitely can see why they wouldn’t cover it. It would be extremely hard to prove/ you would also need ever receipt to prove you paid for that coral/fish. Mine covers the damage caused by the water and or to the neighbors and that right there is more than enough for me haha. Water damage isn’t cheap to fix

But if your insurance does cover livestock, that’s awesome. I’m just saying sometimes their wording can make someone double guess what they actually cover.

 

[lauderdalestunner]

Coverage on livestock is a tricky one. If I was in the insurance business I would touch that with a 10 pole. My equipment and tank is covered as it's personal belongings just like a TV according to my agent. I asked about the livestock a few years ago he said no way!

 

[stscream4187]

I own an Allstate agency, for those saying your tank is covered from a leak or it breaking, I would be sure to get that in writing.

In a standard homeowners policy, the tank and equipment is covered if the loss is due to a covered peril under the policy (which can vary slightly provider to provider). What is never covered is wear and tear. Insurance is meant to cover you in the event of an unexpected loss, wear and tear is expected on any product. Livestock will most certainly not be covered unless you find a carrier that specializes in it, which I have been unable to find personally.

 

[stscream4187]

To add to my previous post, if your tank were to leak/break causing damage to your dwelling, the portion of the dwelling that is damaged (floor, etc) would be covered, but no personal property (tank, equipment, couches) would be covered. This is speaking to our standard homeowners product in PA.

 

[Fringe09]

To add to my previous post, if your tank were to leak/break causing damage to your dwelling, the portion of the dwelling that is damaged (floor, etc) would be covered, but no personal property (tank, equipment, couches) would be covered. This is speaking to our standard homeowners product in PA.

That's exactly what my Farmers Insurance Agent told me. They are however looking around for a specialty company that might insure the equipment due to a leak/break. It's been two days now. I don't think one exists.

 

[stscream4187]

That's exactly what my Farmers Insurance Agent told me. They are however looking around for a specialty company that might insure the equipment due to a leak/break. It's been two days now. I don't think one exists.

I do not think you will find one. This is more along the lines of a warranty the manufacturing company would offer, sort of like your washer/dryer or refrigerator that you need to purchase an extended warranty if you want the product covered for wear/tear.

 

[Heliarc19]

Yes, it is covered but under what scenario? With my insurance company, fire and theft are covered. If my tank shatters, then the equipment and is not covered.

I haven’t looked into that specific scenario, my deductible is 1% so it would not be worth it for me personally if that were the case

 

[MaddyP]

Just make sure what ever happens gets reported as an accident such as you "fell into the side of the tank" because spontaneous failures from manufacturers defects will make them reluctant.

I would get that in writing. Out State was ground zero for Katerina and State Farm originally told all agents to pay no claims and it took our State Attorney Generals lawsuit many years before State Farm was forced to pay for homes and businesses where only a slab remained after 175 mph winds blew everything away.

I am more worried about damage to the dwelling considering I live in an apartment. This was explained to me as covered and the language in my policy backs it up. As far as equipment and tank, it would be great to have those covered but I’m sure the majority of cost will be in my apartment and the apartments below mine. Lol

 

[Newb73]

That's fraud!!

If you are implying that it is fraud for an insurance company to try an wesiel out of paying for a claim on the grounds of some unknown technicality which is a non issue anyway (no one can prove or non-prove a "manufacturers defect" 10 years later so any leak is already by definition "an accident").....and wesiel out they TRY.....AFTER you inquired if you could buy a special rider and they told you it was "covered"......then yes, I agree...it IS fraud....on the part of the insurance company.

My agent was very clear on the matter.....no I can't buy an add on....yes it is covered.....MAKE SURE it's reported as "an accident"...

State Farm

 

[Newb73]

I own an Allstate agency, for those saying your tank is covered from a leak or it breaking, I would be sure to get that in writing.

In a standard homeowners policy, the tank and equipment is covered if the loss is due to a covered peril under the policy (which can vary slightly provider to provider). What is never covered is wear and tear. Insurance is meant to cover you in the event of an unexpected loss, wear and tear is expected on any product. Livestock will most certainly not be covered unless you find a carrier that specializes in it, which I have been unable to find personally.

My tank came with a "life time waranty" so that "wear and tear" replacement cycle is.......never needs replacing.

Of course I can't collect it from my tank manufacturer because DSA aquatic went out of business 6 months after I bought it.

Nonetheless the manufacture suggested replacement cycle is basically never.....so I assume that would have to be covered.

I think may be an insurance company would have legitimate wiggle room for someone with a used tank that has been moved multiple times as that is outside of the suggested use and is owner induced responsibility.

In my case my tank was delivered direct from manufacturer, was immediately set (on cconcrete no less) and has never been moved since... It sits on the manufacturers suggested and built stand (which has been 100% water proofed to eliminate any weakening potential) and wearing the manufacturers suggested and built canopy.

 

[Zack K]

@Lesley had a leak on her 400gal before journeying to her 1000gal if I remember correctly. She had the floors and carpet replaced. Not sure about the tank and equipment but.

 

[Newb73]

If you set up correctly you shouldn't have much equipment loss.

None of my apex gear is in the floor, it's all mounted. The leak detectors would shut down everything except the internal pumps and the Wavs will shut off once they are out of water.

There are some power bricks in the floor but no power would be going to them.

The pumps in the tank should be fine and the lights are on top.

You are basically just looking at maybe a new Kessil H380 over the refugium if water poured into the top of it.....if the tank busted in the middle....and the cost of the tank itself.

I always run multiple tanks so if I were home, I'd be able to save most of the livestock by just moving it (it's the exact same water in all my tanks, literally).

New hard wood floors for my down stairs level though?

$40,000

 

[Reef Monkie]

Perhaps it is different because I live in Northern Europe and where I live liability insurance is mandatory and that insurance covers any damage that my tank would do to others, including the flooding of my downstairs neighbours apartment. The contents of my rented apartment is also insured/covered for up to €100,000 and for anything that is less than 10 years old I receive the full replacement value. That leaves me pretty well covered with the exception of my fish.

 

[reef4beer]

Great thread, didn't even think about the tanks being covered.

I know a few weeks back some post about someones tank being ruined by their kids, many people suggested contacting the insurance.

 

[Diesel]

This is a widely spoken topic and I bet not many know really how this works or what they covered for.
Many carriers say that it's covered but what is covered is that if your tank spring a leak than your coverage will come in handy but tank it self isn't covered.
It's the same with a flood insurance, that you covered from a flood due to a flood in a act of God by rising water only but if your roof was blown off and the house got flooded due to that your flood insurance won't pay.
If the tank burst your floor and furniture is covered in some cases your equipment but not the tank.
In many almost all events from ppl who lost their whole house basically due to the last flood all equipment if it was flooded was covered to a max for all flood insurances in Tx of $250.000.
Many homes had damaged as high as $500.000 as some of the areas flooded where homes reside of 1mil or more.
Again if you tank sprung a leak don't be like them but tell them and say it's a accident, being truthful you come a lot further.
The whole reason the insurance companies nickel and dime us is because many want more out of it or make it look like a accident.

 

[gmhammes]

had a house fire last year and the tank, equipment and coral were covered livestock (fish,inverts) not covered.
I have State Farm Insurance.

 

[crahan]

As a 25 year insurance claims guy, (and married to an insurance attorney) many of these answers are right but many of the same answers are also wrong, depending on the circumstances.

Gonna try to break this down to be concise.

Livestock, (pets kept by an insd) is never going to be covered. For the guy who had his coral covered, my guess is that the adjuster did not know coral were "animals". Animals kept by an insd will never be covered. That might have been a freebie because if the limited knowledge of the adjuster.

The equipment is going to be covered property in most cases, but the cause of loss and the policy will decide if damage is payable. Most homeowner and renter policies have what is called "named peril" coverage for personal property. That means the claim is payable if one of these 17 (or so, depending on the policy) perils caused the damage. For instance, if the tank was lost in a fire, it would be covered because fire is one of the named perils. If the damage was not caused by one of those perils, you are out of luck. (Kids bumped into the tank and broke it)

Some policies offer "all risk" coverage for personal property. That means the policy will pay for anything that happens unless the damage is caused by a peril that is specifically excluded. (Flood, intentional act, etc). All risk coverage applies to the structure in most policies but not the personal property. I recommend getting a policy that offers all risk to personal property. Few carriers offer that.

If a non-named peril damages the tank, (kid bumps into it and breaks it), without all risk coverage, the policy will not pay for the tank and equipment. However, if it results in damage to the structure, (all risk) the policy will pay to repair the accidental damage to the structure.

Some carriers will even take it further and allow you to specifically schedule your tanks and equipment, similar to how people schedule jewelry, artwork and musical instruments. That coverage will respond for pretty much anything other than an intentional act and typically carries no deductible.

For the renters out there, a renters policy (usually named peril) also provides liability coverage for damage to property of others, (the landlord's hardwood floors) if the damage was caused by the negligence of the tenant. Negligence is defined differently by state, but typically applies to an action taken or not taken by an insd that results in damage. Tank explodes on its own, no negligence. Tank explodes because of a bad seal that the tenant was aware of and took no corrective action.. negligent.

Everyone's mileage may vary, but you will get maximum protection by choosing a carrier that allows you to put all risk coverage in your personal property and scheduling it if possible.

Whew!! Hope that was a good breakdown. Let me know if you have any specific questions.