Do You Need Swimming Pool Liability Insurance
As you realize the risks that come with owning a pool in your backyard, you will find that it makes so much sense for you and your family to purchase an umbrella insurance policy that will support your homeowners policy. Homeowners with above or in-ground pools often add this policy so it can serve as excess coverage in case of a pool accident. With this policy in place, you as a pool owner can fully protect your assets in such events. An umbrella policy usually has an average of $1 million in liability coverage and is activated only when all the funds from your homeowners insurance policy have already been exhausted.
While a swimming pool can be a fantastic way to enjoy the summer months, it does bring with it a lot of responsibilities and liabilities year-round. So, whether you have an in-ground pool or an above-ground one, making sure that you are able to protect your investment and your liability is a must. With the right insurance policy for your pool, you can have peace of mind knowing that your financial future is protected for many years to come.
If you need a pool company that can help you renovate your pool for added safety, call us at Nelson Pool Company at 941-256-4079 and we will get your pool back in tip-top shape again.
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Checking Your Liability Limits
The liability portion of your homeowners insurance policy will list how much coverage your policy includes. Typically, the standard liability coverage amount is $100,000 per incident.
Even if you enhance your pools safety features accidents can happen. This is the reason raising liability limits is recommended for pool owners. Increasing your liability coverage will increase your premium slightly because the insurance company is taking on more risk.
Your insurance agent can help review your policy to evaluate costs and make sure that you are getting all the coverage you need. Your agent can also help you decide if you can make any changes to your policy to offset any additional premium charges for increasing your liability. Your pool servicer may also be able to make suggestions for safety features that could reduce your homeowners insurance premium.
Most homeowners find that adding a swimming pool has a minimal effect on their home insurance premium. Having good safety features on the swimming pool, as well as having adequate liability limits on your home insurance policy offers you peace of mind so you can enjoy your pool all summer long!
The editorial content on Universal Propertys website is meant to be informational material and should not be considered legal advice.
Best Insurance Companies For Homes With Pools
Among national insurance companies, Allstate provides the most affordable homeowners insurance quotes for homes equipped with a pool. To determine which company has the cheapest insurance rate for a home with a pool, we gathered quotes for a sample $200,000 home in multiple large U.S. cities from some of the nation’s largest insurance companies. The quotes were then averaged to arrive at a mean insurance cost for a home with a pool across multiple insurers. Allstate offered our sample home an annual homeowners insurance quote of $2,289.
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Difference In Coverage For Types Of Pools
The coverage that applies to a pool depends on what kind of pool you own. Permanently installed above-ground pools and most in-ground pools are generally covered by the other structures coverage in a homeowners policy, while portable-style, above-ground pools that you could take with you if you move are usually covered by personal property coverage.
Your agent can help you determine whether you should consider increasing your coverage limits based on the value of your pool and any accessories, such as a deck or water slide.
Pool Owners Guide To Insurance
6 minute read
Summers here! As a pool owner, its the season youve been waiting for so blow up the floaties, dust off the noodles and get ready to make your big splash!
Nothing beats hanging out by the pool on a hot summer day. Before you dive in, review your insurance policy to make sure your coverage is up to date. Do you have the right swimming pool insurance coverage? In this blog, well guide you in the right direction so you have the insurance needed to cover your swimming pool. That way, youll be able to enjoy your fun in the sun to the fullest!
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Why You Can Trust Bankrate
Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. Weve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next.
Bankrate follows a strict editorial policy, so you can trust that were putting your interests first. All of our content is authored by highly qualified professionals and reviewed by subject matter experts, who ensure everything we publish is objective, accurate and worthy of your trust.
Our insurance team is composed of agents, data analysts, and customers like you. They focus on the points consumers care about most price, customer service, policy features and savings opportunities so you can feel confident about which provider is right for you.
- We guide you throughout your search and help you understand your coverage options.
- We provide up-to-date, reliable market information to help you make confident decisions.
- We reduce industry jargon so you get the clearest form of information possible.
All providers discussed on our site are vetted based on the value they provide. And we constantly review our criteria to ensure were putting accuracy first.
What Is A Covered Peril
Your homeowners policy can cover damage to your home and other structures in the event a covered peril occurs. These perils can include:
- Fire
- Lightning
- Vandalism
For example, if a tree blew over in a windstorm and damaged your pool, your home insurance would likely cover repairs. Damage caused by earthquakes is not covered by a standard homeowners policy, so if your pool cracks due to a shift in the ground, youd be responsible for the repairs. Additionally, damage due to poor maintenance or standard wear and tear of your pool is not covered by your policy. Coverages vary by state, so be sure to check your policy for specific details.
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How Does Having A Pool Impact Your Liability Coverage
Since pools are considered an attractive nuisance and a liability hazard, it may necessitate more than the standard amount of liability coverage. Homeowners insurance policies are typically equipped with anywhere from $100,000 to $500,000 in personal liability coverage, which will cover you for costs like medical bills and legal fees if a guest is injured in your home.
The Insurance Information Institute recommends that pool owners set their liability insurance around $300,000 to $500,000. If you think you need additional coverage, you may want to consider an umbrella insurance policy, an additional liability policy you can tack on to your homeowners policy.
Homeowners Insurance And Liability Coverage For Swimming Pools
If you have a swimming pool, it’s also important to understand how the liability coverage of your homeowners insurance may come into play. If a guest is injured at your pool, you could potentially incur medical or legal expenses that stem from the incident. Liability protection is a standard part of a typical homeowners policy, but because a pool can increase your liability risk, you may want to consider increasing your coverage, the Insurance Information Institute says.
A homeowners policy typically provides $100,000 in base liability coverage. The III recommends increasing those limits if you have a backyard pool.
It’s also a good idea to take safety precautions to help keep your pool secure and prevent injuries. For instance, you may want to install a fence around your pool and move the ladder away from your above-ground pool while it’s not in use. Be sure to follow any local laws pertaining to pool construction and safety.
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What Does Insurance Not Cover When It Comes To Swimming Pools
Your homeowners insurance policy won’t cover the following:
- Wear and tear: If your pool liner needs to be replaced because it’s old, for example, your insurance won’t cover this cost.
- Lack of maintenance: For example, failing to regularly vacuum or clear away leaves and other debris in your pool may clog the filter and cause damage to your pump, which likely won’t be covered.
- Failure to properly winterize your pool: If you’re in an area prone to freezing temperatures and you fail to lower the water level and drain all other equipment of water, cracks and leaks may occur, which likely won’t be covered.
- Flooding:Flood damage is also excluded from a standard homeowners policy.
Exclusions To Your Pool Insurance Coverage
As previously mentioned, insurance providers will cover your pool against common perils. However, not all occurrences are covered by home insurance common exclusions are earthquakes and floods. Insurers can also refuse to cover more dangerous features of your pool, such as diving boards and slides.
Remember, your insurance only covers damage due to common perils wear and tear and neglect are not covered! For example, if a windstorm damages your pool liner, you could be covered. But if after 10 years of use your liner needs repairs, your policy will not help you pay for them.
If you or a member of your household are injured using the pool, your home insurance will not cover medical costs. You will have to file a claim with your healthcare provider instead your home policy only covers guests and child trespassers.
Purchasing a pool for your home, whether above ground or inground, can be fun for your family, neighbors, and friends. However, alerting your home insurance agent to revise your policy will ensure you are protected everywhere including your pool on your property.
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What Else Do I Need To Know Before Building A Swimming Pool In Massachusetts
Depending on your towns requirements, you may need to get construction approval from the local Board of Health or similar governing body. You may also need to follow specific rules related to your filtration system, pool water source, pool location in your yard, wastewater disposal and fencing requirements. In general, pool fencing must be 48 above finished ground. Gates must be self-closing and self-latching. Your towns regulations may be even more specific.
Here are the links for backyard pool requirements in some of the communities we serve:
What If Someone Is Injured While Using The Pool Without Permission
If someone goes pool hopping and gets hurt using your pool without your permission, youre likely not going to be responsible for that persons medical bills. But, this could depend on whether youve followed local laws and have safety measures in place. If your self-latching gate wasnt working properly and a neighborhood kid wandered in and was injured, you could be held liable because you were negligent in the first place. However, you may not be held liable if a kid climbed a fence to access the pool and injured themselves.
Situations where youre legally responsible for injuries to other people can be costly. Having liability insurance for your pool is a must if you dont want to pay for related costs, like medical expenses or legal fees. If you install a pool, whether above ground or in-ground, let your insurance agent know!
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The Attractive Nuisance Doctrine
The state of Michigan has an attractive nuisance doctrine thats included in its Trespass Liability Act. Basically, the law says that homeowners must make safe conditions at their homes and property. Specifically, the law says any homeowner who doesnt make these safe conditions that could then attract children could open them to a lawsuit.
For most insurance companies, a pool is categorized as an attractive nuisance. Another example is a trampoline.
Both of these things could attract children to your backyard. If theyre not properly secured or in a safe condition it would result in a dangerous situation.
Of course, pools are not inherently dangerous. Nor, do people get hurt in every pool.
At the same time, they are classified as an attractive nuisance because they attract children and present the possibility for injury. In other words, a home with a pool has a higher liability risk.
As a result, homeowners insurance companies must increase the premium costs to compensate for the higher risk. Similar cost increases come with sports cars versus sedans, for example.
How Swimming Pools May Be Covered Under Homeowners Insurance
Homeowners insurance may cover your swimming pool against damage resulting from the covered perils listed in your policy, which often include fire, lightning strikes, hail, vandalism, and even explosions. If a major hailstorm damages the pool liner or other components of the pool, your homeowners insurance policy’s dwelling, personal property, or other structures coverage may pay to repair the damage, minus your deductible and up to your policy’s coverage limits.
The actual coverage under your homeowners policy that protects your pool may vary by insurer and the type of pool you own:
- Personal property coverage. An above-ground pool will typically be considered personal property by insurance companies if it’s portable. Personal property coverage on a homeowners policy typically covers personal property at 50% of your dwelling coverage. For example, if your home is insured for $300,000, you’ll have up to $150,000 in coverage to protect against damage to your personal property, including your above-ground pool.
- Other structures coverage. An above-ground pool that is permanently installed may be considered as an “other structure”. Other structures coverage is typically 10% of your dwelling coverage, so if you’re carrying $300,000 in dwelling coverage, your pool may be covered up to $30,000.
- Dwelling coverage. Some insurance companies may cover your in-ground pool, up to the limits of your policy’s dwelling coverage.
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How Will My Insurance Company Know If I Build A Pool
Insurance companies conduct regular inspections on their clients property, often before your policy renews. These visits may be unannounced and may happen when youre not even at home. Inspectors typically survey the exterior of your home, looking for signs of damage, disrepair, or undisclosed riskse.g. backyard trampolines and pools. So, the smart move is to be upfront and proactive. If youre planning to build a pool, talk to your agent first.
How To Get The Right Insurance Policy
Making sure you have the right insurance policy for your above ground pool can help avoid any such situations. For most insurance companies, swimming pools are labeled an attractive nuisance.
It is recommended that you seek the advice of a homeowner insurance agent before installing an above ground pool.
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Will My Insurance Company Cancel My Policy If I Build A Swimming Pool
Its possible. Some carriers dont have the appetite for concerns pools can create. Many carriers will allow pools, so long as theres a locked barrier that meets all state-approved dimensions. Keep in mind though, high-risk pool features like diving boards and pool slides are often a deal-breakereven among companies that allow pools. So, if youre thinking of adding any type of pool or hot tub to your property, its a good idea to contact your agent and learn more about your carriers policies.
Umbrella Policies For An Above
Although not necessary, umbrella policies may help you get that added level of security and coverage that you and your above-ground swimming pool deserve. Umbrella insurance policies go beyond the scope of standalone insurance policies and provide extended insurance coverage at an added premium.
If youve exhausted your current insurance policy, umbrella insurance policies might just be what you need. An umbrella policy often provides homeowners with $1 million or more in supplementary liability protection. If someone dies or is gravely hurt while using your pool, umbrella insurance would cover their burial or hospital expenses, as well as any legal bills incurred as a result of the occurrence.
These expenses might potentially outweigh even the greatest liability limit coverage choice available on your conventional homeowners insurance. If you do not have umbrella insurance and your basic homeowners coverage is exhausted, you will be responsible for any further expenditures.
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Is Your Pool Cage Covered
It depends. If damage is caused from something other than a hurricane, and the pool cage is attached to your home, then yes, it may be covered under your Coverage A. However, if there is a hurricane, insurance companies exclude coverage for cages because they are not designed to withstand a hurricane.
We know pool cages are expensive, so one option is to purchase an endorsement for a hurricane screen enclosure. This generally costs $100 per $10,000 of coverage and still requires the homeowner to pay a deductible. To keep expenses low in the event of a hurricane, consider a 1% hurricane deductible, if possible. This way there is less out-of-pocket expense in the event of serious hurricane damage.
Lastly, if you do have a pool, regardless of where you live, itâs worth considering extra personal liability coverage. Before you think you canât afford it, hereâs a little perspective: for every $100,000 of personal liability, premiums rise about $10 annually. Thatâs less than a $1 a month to receive $100,000 extra coverage if someone is injured in and around your pool.
