Insurance Question

phiberop840 · 11-08-2005, 01:06 AM

OK I Have tanks all over the house. I have insurance on the damage that they will do when and if they break and flood the house.

Is there insurance that you can get that will cover your entire investment plus the damage that could occur. If so please let me know the name of the agency that you are dealing with.

Thanks
Mike

motorslave · 11-08-2005, 01:10 AM

I will be following on this one as I may be doing the wet room soon.

Robert

flashardy · 11-08-2005, 01:14 AM

Phi you got PM

phiberop840 · 11-08-2005, 01:41 AM

Yes thanks for the info. My agent said that I could throw my friend through the tank and be covered for collateral damage but not the investment. im over 3k and dont want to lose it. Please lets share out insurance ideas for renters and Home owners.

Thanks
Mike

Phishnoob · 11-08-2005, 07:14 AM

Nope my tank got wiped due to a faulty truck air conditioner moving and my agent checked and said it would cover just damage to the home, not the tank contents in any situation. It was something about anything living being uninsurable if I understood him right.

superwizbang · 11-08-2005, 09:21 AM

My renter's insurance covers "floods" and "flood damage" (asked specifically if a 90 gallon tank breaking was considered a "flood" and she laughed...um, the answer was yes). They will not cover the inhabitants but will cover damaged equipment. USAA stadard renter's insurance.

Since the hermits and cleaner shrimp perform a service, do you think I might be able to count them as equipment? *looks excitedly*

-K

gwen_o_lyn · 11-08-2005, 09:45 AM

Interesting discussion. I have USAA also for my homeowners, but I do not have flood insurance since I don't live on a flood plain. I guess I better call USAA, because I am wondering if I don't have the seperate policy for flood ins, if my home is covered from the damage. Not really concerned about the tank itself, because after all, filing a claim for something under a certain amount of money is not worth it (under 5K? perhaps), but if the house is damaged- that would be more my concern. Bottom line: They always get their money back!!

xtopher · 11-08-2005, 10:17 AM

I don't know how insurance works for ou folks up in the states, but the fire that took out my tank covered everything except livestock. So again that is only how Canadian Home owners insurance works not sure about Rental properties but I am sure you can get that too. Hope this helps, but in the end I would just phone up your broker and ask.

reef_noob · 11-08-2005, 03:56 PM

My rental insurance explicitly states that livestock is not insured, but that in the case of water damage from a mechanical source(i.e. fish tank, water heater, etc) both the damaged equipment and the damage the failure of said equipment caused is insured.

bob30329 · 11-08-2005, 09:36 PM

Quote:

Originally Posted by superwizbang

Since the hermits and cleaner shrimp perform a service, do you think I might be able to count them as equipment? *looks excitedly*
-K

Maybe workman's comp?

superwizbang · 11-08-2005, 11:27 PM

phiberop840 · 11-10-2005, 12:49 AM

Quote:

Originally Posted by reef_noob

My rental insurance explicitly states that livestock is not insured, but that in the case of water damage from a mechanical source(i.e. fish tank, water heater, etc) both the damaged equipment and the damage the failure of said equipment caused is insured.

What insurance company are you going through. That is about the best one that i have heard so far. I guess now that i think about it. I do believe that the policy will cover everything I have except the fish, corals, and live rock.

Mike