Homeowners (Condo) insurance to cover tank, who can write the policy?

[jonros]

Hi-
What have people who live in MA done to get coverage? Apparently my policy would NOT cover damages as a result of, say, a tank seam bursting (something about wear and tear is not included), or the sump overflowing.

The agents (AMICA and Commerce) made it sound like I CAN'T get coverage - even with a rider.

So I'm here asking, what are people doing for insurance? Anyone actually had the misfortune and filed a claim?

I live in a condo with a basement. Tank is 125 g. All this time I thought my policy covered - I need to read and understand all the fine print...

Thanks in advance. Really, this might make me get rid of the tank...

 

[Neya]

I find that odd. Although different, when we had renter insurance it covered a tank bust/overflow for both us and any other tenants affected.

 

[KSC]

I think what it means is they wouldn't pay for a new tank if the seam burst. I'm sure they would be responsible for the resulting damage. It's no different than if your washing machine sprang a leak. They wouldn't pay to fix the washer, but would pay to fix the resulting damage.

 

[Turbosnail]

I have renter insurance through Travelers and it covers any water damage to myself and neighbors but does not cover replacement of the tank if it breaks.

 

[wrassefan]

talk to your agent...everything else is speculation. They should be able to get you what you need

 

[jonros]

wrassefan -

I have no 'actual' agent to speak of. I signed up with AMICA online and have never met them face to face. I contacted them thru their general ph no. and the agent was specific - I am not covered - both the tank or its contents and resulting damage if the tank fails.
I did not outline a scenario of, say, the sump overflowed, BUT did offer 'what if the tank breaks, or even a slow leak?..' - and the agent stated I am not covered.

Hoping that someone can chime in with a specific case of 'this happened to me and this is what the insurance did...'
I will be contacting Travelers.

 

[KSC]

Read your policy, if it's not specifically named as an exclusion, it's covered. Agents are usually a poor source of information.

 

[wrassefan]

I spoke with my agent (who is a wealth of information) and based on my homeowners insurance (Quincy Mutual), the damaged caused by the water from the tank would be covered but the tank and contents would not be....find an agent or pm me if you want mine...they are in Boston.

 

[jonros]

wrassefan -

thank you for the recommendation / offer. pm to follow.

 

[JayM]

I think what it means is they wouldn't pay for a new tank if the seam burst. I'm sure they would be responsible for the resulting damage. It's no different than if your washing machine sprang a leak. They wouldn't pay to fix the washer, but would pay to fix the resulting damage.

I think you need to watch that very general statement. Usually, floods are covered if they are caused by plumbing, like a burst pipe or clogged drain, but waterbeds, etc need a rider, and aquariums may not cover at all. I would get a determination in writing if I were you.

 

[KSC]

Definately have it in writing. What your agent tells you in person or over the phone is meaningless. Like I said, if your policy doesn't exclude it, or have some language that would deny coverage for the aquarium, it's covered.

 

[JayM]

oh yeah, and whatever you get in writing....don't store it under the tank

 

[Bobbofin]

I think you need to watch that very general statement. Usually, floods are covered if they are caused by plumbing, like a burst pipe or clogged drain, but waterbeds, etc need a rider, and aquariums may not cover at all. I would get a determination in writing if I were you.

I have State Farm and although the tank itself is not covered, damage is covered under the liabilty portion of your policy. Last year I left my RODI on and they covered the damage to my downstairs neighbor's condo. Exclusions usually have to be listed in writing; water beds, aquariums, etc. It would be like your auto insurance carrier saying your not covered under these situations...........

If your tank leaks, it constitutes as water damage and will be covered under your policy. Same as if your water heater decided to give when you were out doing the grocery shopping and it floods the house.

As far as the tank goes, it would be covered under the individual property (whatever its called, basically goods like tv, couches, etc) section of the policy, and you would recieve compensation in the form depreciated value (not replacement). The livestock would not be covered.

In the event that there is more damage to goods in the house then what the policy allows for, you are hosed. So make sure that amount is correct.

And all of this is less the amount of your deductable(s).