Tank sitter services (Calgary)

sphelps · #1 08-23-2011, 02:25 AM

Depends on the industry and being an independent contractor is much different and how much revenue you bring in makes a difference. Typically more revenue means a more reliable and established company so less risk and cheaper insurance. I'm still a contractor now and I pay way less for insurance as an engineer even though the projects I work on now have WAY more at stake and the risks and danger are much higher, we're taking million dollar projects now compared to a few grand at most before.

It's pretty stupid really but aquarium maintenance and that industry in general is a blank for most people, go the bank and ask for a loan to open a fish store or anything related, you won't get it unless you have a ton of assets but ask for one to open a pizza store and you'll have no problem.

Also yes the additional liability would be significantly cheaper, same for virtually any insurance.

Way off topic now but the point is you don't need someone insured or bonded as that really only protects the contractor anyway, not yourself. Livestock would never be covered under any insurance company and your home insurance will cover you in most cases. All you really need is someone you trust, I'd always opt for a friend or fellow reefer over one of these "companies".

Delphinus · #2 08-23-2011, 06:30 AM

OMG you guys !

Hey, take footage or not .. it's your own retinas at risk !!!

http://www.youtube.com/watch?v=agnmysB-2Gc&

Delphinus · #3 08-23-2011, 06:32 AM

http://www.youtube.com/watch?v=1vT1CLv5xsU

Nate · #4 08-23-2011, 03:37 PM

Just an fyi...

N8's Aquarium Maintenance carries 2 million liability insurance. To not have insurance and work on some of the tanks I do... well... I'm not prepared to give up my first born, nor an arm and a leg.

sphelps · #5 08-23-2011, 04:56 PM

Quote:

Originally Posted by Nate

Just an fyi...

N8's Aquarium Maintenance carries 2 million liability insurance. To not have insurance and work on some of the tanks I do... well... I'm not prepared to give up my first born, nor an arm and a leg.

I'd like to see these tanks in Calgary that can cause 2 million dollars in damages

Aquarium_Medics · #6 08-23-2011, 08:46 PM

I carry 1 million liability which is the minium you can get.

globaldesigns · #7 08-23-2011, 08:50 PM

I don't think a broken tank would cause that much damage, but lets say the tank tips over on someone, injuring or killing them? Then the liability would be needed, probably not enough though in today's world.

I don't offer tank services, but being a business owner in the internet realm, I carry 10 million in liability. Just in case.

I think any business owner, no matter the product or service should protect themselves. It is just a cost of doing business.

So Tony, when I post the footage I have of you, please sue me and then we can split it! OOOOPS, was that my outside voice?

Nate · #8 08-23-2011, 08:51 PM

Its not always the size of the tank...its where it is... decent size tank in a penthouse goes, and you have 4 stories worth of issues.

Plus the price difference between 1 mill and 2 mill was like nothing...and its much more baller to say 2 mill. lol

Plus you can never be covered for too much.

Nate · #9 08-23-2011, 08:52 PM

I wonder if my liability insurance would cover my house if something went wrong with my 500 gal?

sphelps · #10 08-24-2011, 12:56 AM

Quote:

Originally Posted by Nate

Its not always the size of the tank...its where it is... decent size tank in a penthouse goes, and you have 4 stories worth of issues.

Plus the price difference between 1 mill and 2 mill was like nothing...and its much more baller to say 2 mill. lol

Plus you can never be covered for too much.

Different story if you designed, built and installed a piece of equipment that failed, however simply maintaining someones tank would not leave you liable if something failed, even if it killed someone. Even if you purposely smashed the tank unless they could physically prove you did so it would just come down to equipment failure and provided you didn't build the tank you're 100% not liable. I had decent coverage as well but it was because I was building and installing equipment, if it was strictly maintenance I wouldn't have bothered.

Nate are you incorporated? I learned a lot when I was in the business and you might be surprised what you're actually covered for. For example, any plumbing you actually should be licensed, any electrical same deal. Anything warranting high structural load may require engineering approval. If **** really hits the fan hard your insurance company will likely just pull out. This is partially why I don't do the business anymore, too much risk.