Is My Tank actually safe ? Do we need Insurance?

[vetteguy53081]

One subject I have seen lately is the discussion of tank leaks, and issues with a certain manufacturer and even Tank Blow-outs.
I remembered the Early 2000 years when persons went to sleep and heard or didn't hear a crashing sound during the night and found their Marineland tank fronts blown out and fish and coral all over their floor or carpeting.

So, the question now arises, should we be insuring our prized tanks for risk of damage and flood loss?

While it is offered by few companies, Aquarium insurance IS available and is not high in cost opposed to Flood insurance which covers the dwelling , not the aquarium and contents.
Aquarium insurance will cover the tank itself, equipment, leaks and repair costs such as floor, carpet, ceiling damage to a lower floor and similar structure.

There were a couple of instances where damage to floor occurred and tenants renting a property were sued because they were not allowed to have a tank and did not know it assuming a pet meant dog or cat. Having insurance would have alleviated this?

A renter and home policy may cover the tank under the liability portion of a given policy buy from what I am seeing, Fish are Not covered. If you're lucky enough to discover fish after a tank failure and have a quarantine tank, you have a chance of saving some of the livestock.

Perhaps consider a blow out kit for larger aquariums consisting of a couple large tubs, battery operated pumps, spare heater(s) , thermometer, heavy duty garbage bags and more.

I have just started exploring Insurance and options

What is your take on insurance?

 

[o2manyfish]

In the late 80's and early 90's working out of Santa Barbara, we had a cardiologist that was writing "prescriptions" for aquariums and getting salt water aquarium installations subsidized by health insurance.

In that same era we were also able to insure the living contents of the aquarium as "Art Work". They covered the fish, corals (softies and LPS back then) and the live rock - in the event of a tank disaster. Whether heater failure or seam failure.

This insurance went away in the mid to late 90's when insurance companies stopped insuring live commodities under a home policy.

When I was an apartment renter with a pair of 100g salt tanks, I had insurance to cover water damage. Again this was late 80's early 90's before we dealt with issues like black mold. It was to protect carpet, hardwood floors, walls, etc. I never made a claim on any of those policies.

When I moved into my house at the end of 93 I had a 125 reef at the time. But the tank went into a room with a concrete floor. Putting my own carpeting in the room was so cheap that it was cheaper to recarpet the room then pay for flood insurance. I had had fish tanks for over 20 years at this point, and acrylic tanks for the last 7 years. Having worked in a fish store during high school and sold 100's of acrylic tanks they were pretty solid. So I wasn't worried about a tank blowing apart.

I was able to get the "Art Work" Insurance when I moved into my house and was able to apply it once in 94 when a bacterial infection on a Tonga Yellow Leather wiped out a packed coral tank. That policy was cancelled about 2-3 years later, when they told me it was no longer offerred for live animals.

Since then having a 300g Fish Only, which did some slight water damage to the hardwood floors, a 400g up against 2 walls for over 20 years - Which when we removed we opted to tear off the drywall replace and repaint, were all fixes that were way less than insurance premiums.

Now with a 750g tank in the house, but still sitting on a concrete slab floor, I'm not too concerned about flood damage. So I am opting to not pay the premiums and fix the problems when (not if) they occur.

Dave B

 

[vetteguy53081]

In the late 80's and early 90's working out of Santa Barbara, we had a cardiologist that was writing "prescriptions" for aquariums and getting salt water aquarium installations subsidized by health insurance.

In that same era we were also able to insure the living contents of the aquarium as "Art Work". They covered the fish, corals (softies and LPS back then) and the live rock - in the event of a tank disaster. Whether heater failure or seam failure.

This insurance went away in the mid to late 90's when insurance companies stopped insuring live commodities under a home policy.

When I was an apartment renter with a pair of 100g salt tanks, I had insurance to cover water damage. Again this was late 80's early 90's before we dealt with issues like black mold. It was to protect carpet, hardwood floors, walls, etc. I never made a claim on any of those policies.

When I moved into my house at the end of 93 I had a 125 reef at the time. But the tank went into a room with a concrete floor. Putting my own carpeting in the room was so cheap that it was cheaper to recarpet the room then pay for flood insurance. I had had fish tanks for over 20 years at this point, and acrylic tanks for the last 7 years. Having worked in a fish store during high school and sold 100's of acrylic tanks they were pretty solid. So I wasn't worried about a tank blowing apart.

I was able to get the "Art Work" Insurance when I moved into my house and was able to apply it once in 94 when a bacterial infection on a Tonga Yellow Leather wiped out a packed coral tank. That policy was cancelled about 2-3 years later, when they told me it was no longer offerred for live animals.

Since then having a 300g Fish Only, which did some slight water damage to the hardwood floors, a 400g up against 2 walls for over 20 years - Which when we removed we opted to tear off the drywall replace and repaint, were all fixes that were way less than insurance premiums.

Now with a 750g tank in the house, but still sitting on a concrete slab floor, I'm not too concerned about flood damage. So I am opting to not pay the premiums and fix the problems when (not if) they occur.

Dave B

Thats the toss-up. take the chance and fix yourself or consider replacement costs and have coverage to reduce out of pocket expenses for replacement.

 

[o2manyfish]

Thats the toss-up. take the chance and fix yourself or consider replacement costs and have coverage to reduce out of pocket expenses for replacement.

I think if you are a renter, then it's wise to get the insurance. The landlord, property management company isn't going to let you 'take care' of damages that occur. And especially when you talk about water damaging the apartments and personal property of neighbors - whether next door or below. Then not having insurance is just too big a risk.

But if you own the home, and can choose to what length repairs need to be made, then not having insurance might not be an issue.

 

[Bertian84]

Only getting started (a year) so far and I can't imagine having a tank blow out. It scares me. Makes me want to take a few ratchet straps and wrap the tank now lol.

 

[Gp!]

What companies provide it and what is the rider called? I've not been able to find someone that offers it for a quote

 

[vetteguy53081]

What companies provide it and what is the rider called? I've not been able to find someone that offers it for a quote

I have progressive and they do not. We have a local companies who can provide it. Its a matter of shopping around. I am doing an online search today and calling Liberty and prudential who were mentioned that may provide such insurance

 

[Gp!]

I have progressive and they do not. We have a local companies who can provide it. Its a matter of shopping around. I am doing an online search today and calling Liberty and prudential who were mentioned that may provide such insurance

I would appreciate it if you share what you find. I looked in the past and was not successful

 

[amoore311]

If I had a Red Sea tank maybe.

All I buy is Aqueon though. Oddly enough in 19 Years never a leak from aqueon or all glass.

 

[dadnjesse]

I voted no for insurance. My tank is in my finished basement. The floors have ceramic tile and whenever I spill water I either use towels or my wet vac. I did have a sheetrock wall behind the tank that disintegrated from the years of salt creep

 

[Aspect]

Anyone know where I can get coverage that would cover my tank and equipment if a blow out were to happen?

 

[shakacuz]

I have progressive and they do not. We have a local companies who can provide it. Its a matter of shopping around. I am doing an online search today and calling Liberty and prudential who were mentioned that may provide such insurance

keep us posted. i’m a renter and seeing these recent oats has elevated a certain anxiety of the tank blowing out.. even if it’s a 40g breeder

 

[MnFish1]

One subject I have seen lately is the discussion of tank leaks, and issues with a certain manufacturer and even Tank Blow-outs.
I remembered the Early 2000 years when persons went to sleep and heard or didn't hear a crashing sound during the night and found their Marineland tank fronts blown out and fish and coral all over their floor or carpeting.

So, the question now arises, should we be insuring our prized tanks for risk of damage and flood loss?

While it is offered by few companies, Aquarium insurance IS available and is not high in cost opposed to Flood insurance which covers the dwelling , not the aquarium and contents.
Aquarium insurance will cover the tank itself, equipment, leaks and repair costs such as floor, carpet, ceiling damage to a lower floor and similar structure.

There were a couple of instances where damage to floor occurred and tenants renting a property were sued because they were not allowed to have a tank and did not know it assuming a pet meant dog or cat. Having insurance would have alleviated this?

A renter and home policy may cover the tank under the liability portion of a given policy buy from what I am seeing, Fish are Not covered. If you're lucky enough to discover fish after a tank failure and have a quarantine tank, you have a chance of saving some of the livestock.

Perhaps consider a blow out kit for larger aquariums consisting of a couple large tubs, battery operated pumps, spare heater(s) , thermometer, heavy duty garbage bags and more.

I have just started exploring Insurance and options

What is your take on insurance?

I looked at this with my insurance provider a couple years ago. Livestock is not covered. The tank, equipment, and any damage is covered under the standard policy (not flood insurance). If I had a (for example) - peppermint angel - etc - or 10,000 in coral I would buy a policy. They are not expensive, BUT - livestock insurance is more expensive. I own over 500 gallons total of aquaria - and I have made sure that I'm covered - not for the livestock - but any damage. THIS IS AN OUTSTANDING REMINDER @vetteguy53081

 

[GARRIGA]

Knowing now it’s available. I’ll be getting it for my future build. Floors can be expensive to replace beyond just the tank. One of the reasons on swaying towards acrylic or glass/PVC hybrid. Even a small tank failing can be a major issue.

 

[MnFish1]

Knowing now it’s available. I’ll be getting it for my future build. Floors can be expensive to replace beyond just the tank. One of the reasons on swaying towards acrylic or glass/PVC hybrid. Even a small tank failing can be a major issue.

THIS IS TRUE - I limited my tank to 200 gallons - for this reason - Today - no matter which manufacturer - if it breaks it's a major disaster - and not every insurance covers aquarium damage.

 

[vetteguy53081]

This is one Im narrowing down to:

What Kind Of Aquarium Insurance Policy Do You Need? - Thomas Fenner Woods Agency Thomas-Fenner-Woods Agency, Inc. represents the most reputable and financially sound insurance companies in the world.

What Kind Of Aquarium Insurance Policy Do You Need? - TFW offers a complete program of insurance and risk management services: business, personal, life and health coverages. Through proper planning and dedicated service, We Make Insurance Work…for you.

www.tfwinsurance.com

 

[GARRIGA]

THIS IS TRUE - I limited my tank to 200 gallons - for this reason - Today - no matter which manufacturer - if it breaks it's a major disaster - and not every insurance covers aquarium damage.

20 gallons can ruin a floor. 200 gallons can ruin the entire downstairs.

 

[Aspect]

20 gallons can ruin a floor. 200 gallons can ruin the entire downstairs.

500 gallons here

 

[Uncle99]

For me, only if a failure would cause damage to others property, then that IMM is a good investment cause I may get sued for damages.

If it’s just my place, I’ll take the risk, I would think the premiums would be quite expensive, insurance business, never loses money.

 

[Nick Steele]

I need to go back and read whole post but here’s what I have.

Currently we are renting and although nothing big (20g, 13.5g SW and a 15g FW) our renters insurance will cover any and all cost having to do with a water leak of any sort. Won’t cover living animals but have heard of people turning a 20-50g tank leak into a 100-180G tank upgrade through insurance coverage. Our premium for renters is only like $200 a year and we need it anyway so it was a huge plus when I called and asked about coverage for aquariums and got the okay!