Insurance

Here's a topic I almost never see anything about: insurance! Specifically, getting your collection insured against damage, theft, etc. It would make sense. Even small collections can have thousands of dollars in just a few animals; add in equipment and that's already a sizeable investment comparable to a used car. And if you're into breeding as either a hobby business, that cash investment is likely to skyrocket. So talk to me about all the dirty details. Are you a breeder or just a collector? Have you insured your collection? If so, how did you go about it?

Related: have you ever had any trouble with your renters/homeowners insurance because you keep or breed "large" pythons?

I don't have any special insurance. My home insurance covers a total monetary value and not specific items.

As for my snakes my home insurance never asked and I never told.

My neighbors don't know either.

Same here homeowners pretty much covers it, I don't know if my insurance company knows or cares but my buddy that I got my policy through knows and all he asked if any of them were poisones to which I said 'no, I don't eat my snakes anyways.'

I rent so I got a policy through assurant that covers 10k specifically for my animals and equipment.

Most homeowners insurance policy has exclusions for animals and home based businesses. You can also risk your homeowners claim if the cause is due to a business you are operating out of your house. You need to check your policy and review with your agent/underwriter to be certain.

If you rent and have a policy good....but if your heating element causes a fire that damages the building significantly or causes injury, does it protect you against the conditions of your rental policy and your landlords insurance? If you have ever dealt with a insurance company before, they will find an 'out' if they can to not pay or seek damages from you.

When I was running my business, I carried a standard liability insurance, which was basically a protection against someone suing me in the event something goes horribly wrong (i.e. snake bites kid in face and parents freak out, etc.). Most reptile businesses are getting the basic business insurance policies for their equipment and the potential liability....the animals are not covered. That type of standard policy ran me around $400 per year for a really small operation and had fairly decent coverage.

I have heard of a person getting a policy on the actual animals, but I do not know if it is actually true. If I recall correctly, they were getting the policies written through agricultural type insurance agencies but the policies were pricey. This is when animals were going for $20k+ regularly.

You have to think....Insurance companies make money by valuation of risk. If the industry doesn't have a long track record with data, the risk to the company writing the policy is higher. Considering the general public's perception of reptiles and the fire risk associated with running the various heat elements.......you are going to pay for it if you are covered.

But if you have concerns and want to know how to protect yourself and your animals, check with your insurance agent and lawyer for your situation...I am not a professional insurance agent, underwriter or legal expert.

Getting insurance and legal advise on the internet should be treated the same way as asking for veterinary care for your animals on a forum....it is not advisable to take our amateur opinions...seek a professional.

Yeah I'm not running a business I just have pets. Also running heating equipment is typically as safe as running certain light bulbs. If you're not careful you can easily start a fire.

I do have some experience with insurance, but it's from a medical side of things. Specifically, my job is to find liable insurance coverage in the event of a patient seeking treatment through one of our hospitals as a result of an accident and bill them. Lots of sleuthing, dealing with adjusters and butting heads with lawyers lol. I don't make a lot of money; enough to keep us fed, lights on, and roof over our heads, and a little bit extra. I have about $1200 in just snakes, and that's likely to double this upcoming tax return. For me, that's a significant and non-replaceable financial investment if something where to happen to it. Wouldn't even have to be something catastrophic to the structure or people, little things could go wrong. I've seen more than once someone get their collection (or part of it) stolen. A thermostat malfunction doesn't start a fire, but it does cause a heat spike that kills several snakes. Those kind of things seem like a specific policy would be required that plain old home owners/renters and liability wouldn't cover.