milesmiles902 Posted May 20, 2016 Share Posted May 20, 2016 Hey everyone, This thought rolled through my mind on the walk home. Who has insurance on their aquarium? Don't get me wrong I didn't even have car insurance for five years of my life, but now I have it and it doesn't seem too unreasonable to have aquarium insurance. After my car, it is the next most expensive thing I own. So, I was wondering...how expensive is it? Is there a good place to insure your aquarium? Is there any added benefits in the case of an earthquake? Who is your insurance provider? Insurance or not, I would love to hear what you have to say. Quote Link to comment Share on other sites More sharing options...
Bevo5 Posted May 20, 2016 Share Posted May 20, 2016 You can't really insure the livestock - well let me rephrase that. Unless you go to someone like Lloyd's Of London - who will figure out a way to insure just about anything - you wont find insurance for the fish/corals. What you can insure is the water damage that happens if it were to explode. They treat an aquarium like an appliance...same as your hot water heater or washing machine. If it breaks, you can claim the water insurance. But you can't claim the tank or inhabitants. I have tried many times. I even had my new home insurance specifically write that water damage from the aquarium is covered....even if it's a faulty pipe fitting etc. But as far as insurance on the fish/corals - that, in my experience of calling like 10 companies, isn't going to happen. Now your renters or home owners insurance should 100% cover the equipment being stolen and stuff like that. If someone walks in and jacks your Radions - you can certainly claim those. Renter's insurance is like $100 in most cases for pretty good coverage. I'm absolutely no expert.... 2 Quote Link to comment Share on other sites More sharing options...
shaywood Posted May 20, 2016 Share Posted May 20, 2016 Called my insurance rep at State Farm who said home is covered for sudden leak damaged, not prolonged leaks due to neglict. Livestock not covered. 1 Quote Link to comment Share on other sites More sharing options...
Lexinverts Posted May 20, 2016 Share Posted May 20, 2016 Right. Livestock is never eligible for coverage. After all, what insurance company would be willing to cover all of Tom's Walt Disney colonies? 1 Quote Link to comment Share on other sites More sharing options...
Higher Thinking Posted May 20, 2016 Share Posted May 20, 2016 I've posted this before somewhere, but here's my situation directly from my Country Financial Rep regarding my home owner's policy. If something catastrophic happened (tank giving way), they would cover all property damage. This includes the tank itself, any equipment, any water damage to the house, AND coral. He had to get some clarification because he initially did not know, but he found out that while they wouldn't cover the loss of fish because they are just animals, they would cover the loss of corals because they see them as property, not animals. He's been in the insurance industry forever and is certainly no slouch with intelligence, so I take him at his word. 2 Quote Link to comment Share on other sites More sharing options...
Lexinverts Posted May 20, 2016 Share Posted May 20, 2016 I've posted this before somewhere, but here's my situation directly from my Country Financial Rep regarding my home owner's policy. If something catastrophic happened (tank giving way), they would cover all property damage. This includes the tank itself, any equipment, any water damage to the house, AND coral. He had to get some clarification because he initially did not know, but he found out that while they wouldn't cover the loss of fish because they are just animals, they would cover the loss of corals because they see them as property, not animals. He's been in the insurance industry forever and is certainly no slouch with intelligence, so I take him at his word. If the claims adjuster does a little zoology homework and discovers that corals are in fact living animals, I wonder if they would be covered. Lol. ???? 2 Quote Link to comment Share on other sites More sharing options...
badxgillen Posted May 20, 2016 Share Posted May 20, 2016 Interesting that he says that, when I buy corals they are listed as livestock... good to know. Quote Link to comment Share on other sites More sharing options...
Gil&Fin Posted May 20, 2016 Share Posted May 20, 2016 Along these same lines, my insurance person said that corals would be covered. She analogized them to landscape plants. I didn't correct her about the plant/animal thing. Does that make me a bad person? In truth, if I ever did have to make a claim I probably would correct her. Unless I had that Walt Disney... Lastly, don't forget that this is all likely subject to your deductible. Mine is $2500, I think. Also, you'll probably want to check your policy to see if they pay out "replacement value" or "current value." We all know that when it comes to aquarium equipment, there is a BIG difference in those two things. Quote Link to comment Share on other sites More sharing options...
Bevo5 Posted May 20, 2016 Share Posted May 20, 2016 Get that coral coverage in writing! Even though I bet there's a heck of a disclaimer at the bottom that says the policy underwriter can overrule local agents who make mistakes. If you put in a claim for $2000 in corals I'm sure someone is going to start looking up what that means and realize they're not house plants! But hey! If not - that's great news for all of us. Now if they would just cover SPS for KH swings. 1 Quote Link to comment Share on other sites More sharing options...
milesmiles902 Posted May 20, 2016 Author Share Posted May 20, 2016 I've posted this before somewhere, but here's my situation directly from my Country Financial Rep regarding my home owner's policy. If something catastrophic happened (tank giving way), they would cover all property damage. This includes the tank itself, any equipment, any water damage to the house, AND coral. He had to get some clarification because he initially did not know, but he found out that while they wouldn't cover the loss of fish because they are just animals, they would cover the loss of corals because they see them as property, not animals. He's been in the insurance industry forever and is certainly no slouch with intelligence, so I take him at his word. That is so crazy that people think corals are not animals. Maybe that is why I never have to put a pet deposit down for my aquarium. :P What is this insurance called? Home owners insurance? Pet insurance? Maybe it falls under many categories. I don't know. Also, I feel that even with years of growth some corals could even be more expensive than the equipment you run. I would definitely want it to be covered. Quote Link to comment Share on other sites More sharing options...
pledosophy Posted November 10, 2016 Share Posted November 10, 2016 Right. Livestock is never eligible for coverage. After all, what insurance company would be willing to cover all of Tom's Walt Disney colonies? Livestock can be insured, but are not typically covered under a homeowner or renters policy. Commercial policies or a Farm policy can include endorsements for Livestock in the state of Oregon. I do not know about Washington for sure, I am not licensed there. Quote Link to comment Share on other sites More sharing options...
pledosophy Posted November 10, 2016 Share Posted November 10, 2016 I've posted this before somewhere, but here's my situation directly from my Country Financial Rep regarding my home owner's policy. If something catastrophic happened (tank giving way), they would cover all property damage. This includes the tank itself, any equipment, any water damage to the house, AND coral. He had to get some clarification because he initially did not know, but he found out that while they wouldn't cover the loss of fish because they are just animals, they would cover the loss of corals because they see them as property, not animals. He's been in the insurance industry forever and is certainly no slouch with intelligence, so I take him at his word. Homie, I'd get that in writing. Ask the dude, "I just want to make sure if my tank seam fails that my xxx dollars worth of live coral is covered under my policy". It's not the weirdest thing ever but it sounds strange, they cover pets or they don't usually. So if you said they would cover the fish and the coral, it would make sense, but Coral and no fish.... if that were me (the licensed insurance agent) I would want that in writing. Email is fine. Save it. It could be 100% right on, my company even has policies where they cover pets injuries in a car accident, but covering one living thing and not another.... Sounds different to me. Quote Link to comment Share on other sites More sharing options...
fishboys Posted November 10, 2016 Share Posted November 10, 2016 I've posted this before somewhere, but here's my situation directly from my Country Financial Rep regarding my home owner's policy. If something catastrophic happened (tank giving way), they would cover all property damage. This includes the tank itself, any equipment, any water damage to the house, AND coral. He had to get some clarification because he initially did not know, but he found out that while they wouldn't cover the loss of fish because they are just animals, they would cover the loss of corals because they see them as property, not animals. He's been in the insurance industry forever and is certainly no slouch with intelligence, so I take him at his word. I take very few people at there word. An insurance agent would be one that I think getting it in writing could serve you better than word of mouth. That's just me though. Quote Link to comment Share on other sites More sharing options...
Higher Thinking Posted November 10, 2016 Share Posted November 10, 2016 (edited) I take very few people at there word. An insurance agent would be one that I think getting it in writing could serve you better than word of mouth. That's just me though. Homie, I'd get that in writing. Ask the dude, "I just want to make sure if my tank seam fails that my xxx dollars worth of live coral is covered under my policy". It's not the weirdest thing ever but it sounds strange, they cover pets or they don't usually. So if you said they would cover the fish and the coral, it would make sense, but Coral and no fish.... if that were me (the licensed insurance agent) I would want that in writing. Email is fine. Save it. It could be 100% right on, my company even has policies where they cover pets injuries in a car accident, but covering one living thing and not another.... Sounds different to me. I hear you both. In writing would solidify things. But my agent was also my small group church leader for about 5 years. He also serves as one of 5 board members at my old church, overseeing the financial operations. Additionally, he is my financial advisor as well, handling my stock and retirement options. He's at least not some 25 year old nobody just throwing stuff out there and certainly no slouch in the financial/insurance industry. But even with that, he had to reach out and get that information because he hadn't ever had to deal with it before. In the end, I'm not going to throw a tantrum if insurance doesn't cut me a bigger check for the coral. It'll all work out one way or another. Edited November 10, 2016 by Higher Thinking 1 Quote Link to comment Share on other sites More sharing options...
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