Raoul5Duke
Active member
Planning a large build for the first time. Just wondering if those of you with large tanks mentioned anything to your insurance company and what effect it had if any on your homeowner's insurance cost?
Insurance?
- Thread starter Raoul5Duke
- Start date
Raoul5Duke
Active member
Thanks Al, I think we traded a few posts over at ReefSanctuary previously. This is a homeowner's policy, I'm guessing a renter would have a more difficult time.
CalmSeasQuest
Active member
Following along - Waiting on delivery of a 350 gallon system and a return call from my agent (Allstate) to determine options/costs.
CalmSeasQuest
Active member
I got my response. My existing homeowners plan covers any damage resulting from the tank up to the "perils" coverage of the policy (in my case, $250K.) It would not cover the cost of the tank itself, nor any livestock.
They equated to a washing machine leaking. Damage covered, washing machine not. Waiting for it in writing, but it seems reasonable.
They equated to a washing machine leaking. Damage covered, washing machine not. Waiting for it in writing, but it seems reasonable.
Dean Ladd
New member
It is always best to consult with your insurance agent since he or she knows want your policy covers. I express no guarantee for the information provided. Coverage can only be guaranteed by the company issuing the policy.
I recently retired form the insurance business. Since 1987. The insurance companies that I have represented do not have any concerns about you owning a aquarium nor do they surcharge for the aquarium. No matter how big it is. Some companies could want you to endorse the aquarium on the policy but this may be more related to the value then the actual risk of owning the aquarium. In the world of insurance aquarium owners are a very small risk factor. Large aquariums are even smaller.
There are different types of policies. They are either a Named Perils or All Perils. Not to go into a long comparison of these 2 types of policies, because there are huge differences between them, simply put a named peril coverage means the policy will only cover the perils named in the policy any unnamed peril is excluded from coverage, all perils means that anything NOT covered by the policy will be excluded by the policy. So if it is not excluded it is covered. Some policy are replacement cost and others are actual cash value. ACV means the company would depreciate the value of the loss and pay you less your deductible and depreciation for a covered loss.
Edit: Note the following is in reference to a All perils Policy. Again if it isn't specifically excluded it is covered.
As far as damage to the aquarium or to the home resulting from the aquarium I have never seen an exclusions for the aquariums and for a covered losses resulting from the aquarium.
The aquarium and it's systems should be considered personal property and would be settled under your personal property limits. You would want to make sure your limits are adequate enough to to cover all your personal property including the tank and systems (pumps, sumps and all other mechanical stuff due to a total loss.)
I don't know of any homeowners policy that will cover live stock, which would include your fish and corals. Some could argue LR is live stock. No matter what LR is considered to be I doubt you will get an adjuster to pay you anything for a LR. To them its is a rock, therefore has no value. If your system crashed or lose power and killed everything in the tank but the tank and the systems running were not damage there would be no coverage to the Live Stock.
So let us throw out some loss examples.
Say one of your pumps shorted out and caught fire. Due to this the house caught on fire. The entire loss including the tank and it systems should be covered. BUT if the pump for that system was determined to have cause the fire. The pump itself would not be covered. Since the policy does not cover a item damaged due to mechanical failure. They only cover the property damage resulting from the pumps failure. The Fire!
Now here is where it gets real sticky. Want if your tank burst due to a bad manufacturing or some other type of mechanical failure (silicone seal, acrylic glue, whatever.)? The company would cover the resulting damage to the home and your personal property including the aquariums systems but they would not cover the tank since it was the cause of the lose and the tank failed due to a manufacturer flaw or mechanical failure. Can you say Subrogation? :headwallblue:
So less twist that, say your kid was practising his batting swing next to the tank :spin2: hit the tank and it burst. The entire loss to the home and the tank would be covered since the loss was an accident. Keep in mind live stock is not covered.
1 rule I use to tell my customers to determine if they have an insurable loss is to ask the question, Was the loss sudden and accidental? If so and your policy does not exclude it then it is most likely covered.
Knowing this rule. Less say you built a new tank, plumbed it but it had a small leak but you did nothing to correct that leak, even if you were not aware of the leak for several days. Eventually the floor starts to get water rot. You will be hard pressed to get an adjuster to cover the loss since it was not sudden and accidental. Know if one of your plumbing pipes burst and water went everywhere and it cause water damage to your home and contents then it would most likely be covered. WHY? go back to rule 1. Insurance companies may pay claims due to stupidity but they don't pay for stupidity related to neglect. Adjusters can tell the difference between a slow leak and sudden and accidental leak.
One last thing. Insurance companies hate H2O. You will want to read the policy coverage related to water lose VERY closely when it comes to water related losses.
One more time! It is always best to consult with your insurance agent since he or she knows want your policy covers. I express no guarantee for the information provided. Coverage can only be guaranteed by the company issuing the policy.
I recently retired form the insurance business. Since 1987. The insurance companies that I have represented do not have any concerns about you owning a aquarium nor do they surcharge for the aquarium. No matter how big it is. Some companies could want you to endorse the aquarium on the policy but this may be more related to the value then the actual risk of owning the aquarium. In the world of insurance aquarium owners are a very small risk factor. Large aquariums are even smaller.
There are different types of policies. They are either a Named Perils or All Perils. Not to go into a long comparison of these 2 types of policies, because there are huge differences between them, simply put a named peril coverage means the policy will only cover the perils named in the policy any unnamed peril is excluded from coverage, all perils means that anything NOT covered by the policy will be excluded by the policy. So if it is not excluded it is covered. Some policy are replacement cost and others are actual cash value. ACV means the company would depreciate the value of the loss and pay you less your deductible and depreciation for a covered loss.
Edit: Note the following is in reference to a All perils Policy. Again if it isn't specifically excluded it is covered.
As far as damage to the aquarium or to the home resulting from the aquarium I have never seen an exclusions for the aquariums and for a covered losses resulting from the aquarium.
The aquarium and it's systems should be considered personal property and would be settled under your personal property limits. You would want to make sure your limits are adequate enough to to cover all your personal property including the tank and systems (pumps, sumps and all other mechanical stuff due to a total loss.)
I don't know of any homeowners policy that will cover live stock, which would include your fish and corals. Some could argue LR is live stock. No matter what LR is considered to be I doubt you will get an adjuster to pay you anything for a LR. To them its is a rock, therefore has no value. If your system crashed or lose power and killed everything in the tank but the tank and the systems running were not damage there would be no coverage to the Live Stock.
So let us throw out some loss examples.
Say one of your pumps shorted out and caught fire. Due to this the house caught on fire. The entire loss including the tank and it systems should be covered. BUT if the pump for that system was determined to have cause the fire. The pump itself would not be covered. Since the policy does not cover a item damaged due to mechanical failure. They only cover the property damage resulting from the pumps failure. The Fire!
Now here is where it gets real sticky. Want if your tank burst due to a bad manufacturing or some other type of mechanical failure (silicone seal, acrylic glue, whatever.)? The company would cover the resulting damage to the home and your personal property including the aquariums systems but they would not cover the tank since it was the cause of the lose and the tank failed due to a manufacturer flaw or mechanical failure. Can you say Subrogation? :headwallblue:
So less twist that, say your kid was practising his batting swing next to the tank :spin2: hit the tank and it burst. The entire loss to the home and the tank would be covered since the loss was an accident. Keep in mind live stock is not covered.
1 rule I use to tell my customers to determine if they have an insurable loss is to ask the question, Was the loss sudden and accidental? If so and your policy does not exclude it then it is most likely covered.
Knowing this rule. Less say you built a new tank, plumbed it but it had a small leak but you did nothing to correct that leak, even if you were not aware of the leak for several days. Eventually the floor starts to get water rot. You will be hard pressed to get an adjuster to cover the loss since it was not sudden and accidental. Know if one of your plumbing pipes burst and water went everywhere and it cause water damage to your home and contents then it would most likely be covered. WHY? go back to rule 1. Insurance companies may pay claims due to stupidity but they don't pay for stupidity related to neglect. Adjusters can tell the difference between a slow leak and sudden and accidental leak.
One last thing. Insurance companies hate H2O. You will want to read the policy coverage related to water lose VERY closely when it comes to water related losses.
One more time! It is always best to consult with your insurance agent since he or she knows want your policy covers. I express no guarantee for the information provided. Coverage can only be guaranteed by the company issuing the policy.
Last edited:
BigAl2007
Active member
Yes one and the same
ReefSanctuary is my home but I do venture out now and again LOL! Actually that's where the quote above came from. Good call That's exactly how my renters insurance quoted my policy. They will cover the damage but not the actual "equipment or live stock" at all.
Dean Ladd
New member
Very good information Dean. Thank you for taking the time and trouble to offer your input.
Glad to help.
Raoul5Duke
Active member
Thanks Dean, very thorough explanation.
