Any backyard is more fun with a swimming pool! Who doesn’t like beating the heat with the whole family during the summer weeks? You’ll be hard-pressed to find anyone! However, it’s crucial to make sure your pool is properly protected before you jump in! To make sure you have the proper swimming pool coverage, always look within your homeowners policy. If you are going to purchase a property with an in-ground pool or install an above-ground pool to your backyard, ask yourself the following questions.
Does My Pool Have Coverage Under My Homeowners Insurance?
Some companies will list swimming pools on your homeowners insurance as “scheduled structures” or under “other structures,” whether they are above-ground or below. However most companies will include the value of the pool in with your Coverage A. The best way to know for sure is to discuss your pool with your Agent during the application phase of initiating a new insurance policy. You might also want to increase liability for locations with pools due to potential accidents that could occur.
What Does Pool Insurance Cover?
It’s important to note new or existing pools on insurance applications, like we mentioned above for numberous reasons. One the application should thoroughly and properly document all risks of the property and two, you want to be sure that should any potential claims occur, that the risks of your property were fully disclosed prior to the occurrence. By doing so, you have a greater change of being covered for accidents caused in and around your pool. Liability insurance is a vital coverage that assists in paying for bodily injuries, medical costs, and attorney fees.On the other hand, adding scheduled structural coverage to your homeowners policy gives you more assurance that, should the unexpected happen, you’ll have the money to repair or replace your pool. Your pool will be protected for the same kinds of damage that your home insurance policy covers when you add additional structure coverage to your homeowners policy. Vandalism and weather-related events are examples of this.
Should I Get Umbrella Liability Coverage for My Pool?
It’s a smart idea for all property owners to consider getting umbrella liability coverage. It is generally advised for homeowners with swimming pools to purchase umbrella coverage, primarily because pools might present greater dangers than other properties. Umbrella liability insurance provides liability protection above the limitations of your homeowners policy for accidents that take place in or close to your pool. Your agent can assist you in deciding if it would be wise for you to invest in umbrella insurance.
Does My Homeowners Insurance Require a Fence Around the Pool?
As with many insurance companies, they require that your pool must be gated off in order to qualify for insurance coverage. Your agent can go into more detail about your company’s specific requirements.
How Much Does a Swimming Pool Increase The Cost of Homeowners Insurance?
The amount of homeowners insurance that you need is based on the cost of your home and the cost to rebuild or replace your home’s structures due to covered perils, plus an allowance (usually set anywhere from 2% to 50%) for other structures like a pool. There may be no extra cost to cover damage to your pool, if there is a problem. When you build a swimming pool, it’s important to consider the insurer’s limit or allowance. You also need to consider whether your policy automatically includes personal liability coverage and how much you need, as these may increase the premiums you pay. Every portion of your homeowners policy and coverage limits can be customized and explained by your agent!Always remember that we are here to help answer any questions you may have when it comes to all things insurance! Drop us a line at service@harrisinsurance.com or call us at 850.244.2111 to speak to your agent.
LEGAL DISCLAIMER
Views expressed here do not constitute legal advice. The information contained herein is for general guidance of matter only and not for the purpose of providing legal advice. Discussion of insurance policy language is descriptive only. Every policy has different policy language. Coverage afforded under any insurance policy issued is subject to individual policy terms and conditions. Please refer to your policy for the actual language.
