Insurance???

Just curious. We all read the unfortunate event that happened to Strickland. Well, it got me thinking. If a tank let's go and floods the floor, is there an insurance policy that would cover that?? That is my worst fear as I have hardwood floors under my tank. Not sure if home owners would cover or not.. Clearly the contents of the reef would be likly lost but just wondering about the home.

 

Only your insurance rep could clarify those things for you. If you own your own home and have homeowners, make sure you read the fine print. Here in FL, it wouldn't cover that damage. In this state, any water damage must be covered by a separate flood policy, but that might differ state to state.

If your insurance company does cover the loss, be prepared to get only coverage for those things for which you have a receipt. And that coral that you bought for $100 back in 2005 and is now worth more like $250 would still only fetch $100. Of course you'd have to fork over a deductible which in some cases might make the claim fruitless. Finally, in today's economy where times are rough and dishonesty is the rule rather than the exception--don't get your feelings hurt if your policy is "not considered for renewal" after the incident.

The short answer to your question of "is it covered?" is yes, under the right circumstances. The long view is, "do you really want to make that claim?"

My mother's brother, a real piece of work, slipped and fell on a piece of glass on tennis court in 1977, sued the city, and hasn't worked a day since. He's perfected the art of squeezing blood from stones ever since. In the late 80's, before Windows 95 even came out, he figured out how with a printer, a polaroid and a scanner; a way of scanning barcodes from TV sets at KMarts, printing them out at home, buying a $200 TV set, only to returni it the next day for $385. A real piece of work he is. I'm convinced that him and others like him make the world the place it is today.

Not to toot my own horn, but I'm honest because I can't live with myself otherwise. Insurance companies have developed some pretty shrewd tactics simply to survive. I can't say I blame them.

Sorry about the long-winded response. Hope I answered your question.

 

When I moved in to my apartment here in TN, I had to have it written into my lease that I could have a tank larger than 20 gallons. Fortunately, they were flexible and made the provision which I had put into writing and signed that I could have ANYTHING over 20 gallons, even 200 gallons if I wanted one.

As part of my arrangement, I had to have an insurance policy which would cover any water damage to my apartment resulting from a leak or burst tank. My current renters policy covers any damage (minus a $500 deductible) resulting from a tank leak / burst / damage from water. It doesn't cover mold. So, if the tank leaks or bursts, it will cover a cleanup crew / etc. properly cleaning the water out of my house, which will prevent mold or mildew. Equipment is also covered. So, let's say I had a $500 cleanup bill, well, there goes my deductible - that's out of pocket. Inhabitants of tank I'm SOL as I have no receipts. Equipment would basically be replaced.

 

Yeah was just curious. I agree with you on false claims people may throw up there. I'm in the Insurance industry and those folks only drive the cost up for the rest of us.. Anyway.. Just curious. Maybe Giko will sell us a "Sweet Protection Plan" for our Reefs..

 

This is what I'm talking about.. the $500 would be a small price to pay given the hard wood floor I would need to replace. while I would be devistated relpacing the stuff in my tank would come cheap in comparison. Well God Bless Strickland and may he watch over all of our tanks and keep four glass walls in tacked!

 

I used to have an add-on for a renters policy that covered a water bed. I'd bet that most insurance co's would have something similar for a large tank breaking. You could probably get the entire tank insured as well though a specialized insurance policy - even against sudden mysterious death of fish. I'm sure Loyd's of London would write you a policy for a large tank, expensive fish, whatever... for the right price.

 

i just redid my home insurance. the inspector took a pic of my tank for documentation in case of a claim. and told me to periodically retake pics as it matures. so i know im covered for my inhabitants even without receipts.