Blog Pools And Insurance : What You Need To Know If You Have A Swimming Pool

Jul 20, 2020

Does My Homeowners Insurance Policy Cover Swimming Pools?

Pools and insurance

There is nothing like taking a dip in the pool on a hot summer day. A Pool is a great place to spend time with family and friends. Are you thinking about installing a pool? Or perhaps you are considering buying a home with a pool. You need to think about how a swimming pool affects your Ontario home insurance.

While pools offer many perks, there are also some serious considerations. They are a considerable investment. The average pool can cost $25,000 to $50,000 or more to install, in addition to annual maintenance fees.

Pools also increase risk. There is the potential for slip and falls on wet surfaces, and drowning. They can attract unwanted attention from trespassers, and are considered an attractive nuisance.

Here we’ll provide you with what you need to know about swimming pools and insurance. We’ll discuss how pools affect insurance costs and coverage, provide tips to reduce risks and answer common questions about home insurance with a pool.

What You Need To Know About Pools And Insurance

How Does Having A Pool Affect Homeowners Insurance?

Whether you are looking to install a pool or purchase a home with a pool, it will impact your insurance. This is applicable to all pool types - above ground pools, on ground pools, and in ground pools.

There are two main ways a pool affects insurance :

  • They increase risk
  • They raise your property value

These factors will have an impact on your coverage needs, policy limits, and premiums. Installing a pool immediately increases your property value. This means you’ll need to increase your coverage to ensure it’s in alignment with your home replacement value.

Insurance Coverage Considerations With A Pool

Home insurance with a pool

All properties are unique. Having the right amount of homeowners insurance coverage for your property is essential to minimize risk factors. When you have a pool, it’s important to make sure you have enough coverage. You need to protect yourself from liability claims and ensure the pool has coverage if damaged. Here are some options to consider :

  • Increase liability : Liability is a standard part of your home insurance policy. Since a pool adds an additional layer of risk and liability, it’s recommended you increase your limits. You could be liable if someone is hurt using your pool.
  • Get an umbrella policy : Umbrella insurance provides you with an extra layer of protection once you exceed your liability coverage in your homeowners policy.

Speak with your insurer to assess your coverage needs.

What Are The Swimming Pool Insurance Requirements?

Municipalities set swimming pool requirements. Insurers require all homeowners to follow these rules as a condition of their swimming pool insurance policy. You will need to have a fence enclosing the pool, have the proper permits in place, and meet other land grading and zoning criteria.

How Much Does Pool Insurance Cost?

Pool insurance costs vary based on the size, type and value of your pool. Coverage limits can also affect your pool insurance premiums. In general, you can expect you pay approximately $25-$75 more per month for pool insurance coverage.

What Are Some Tips To Minimize Risk When You Have A Pool?

Owning a pool comes with inherent risk. As a homeowner, you need to take steps to reduce risk. Here are some ways to do this:

  • Lock up : Make sure you have a lock for all gates and fences surrounding the pool. Keep them locked when not in use.
  • Add signage : Add a “no trespassing” sign on your fence. This shows you’ve taken steps to warn trespassers. You can also include a “no diving” or pool rules sign near the pool.
  • Supervision : Adult supervision is a must when children are swimming in the pool. Also, never allow anyone to swim alone.
  • First aid training : Make sure all family members are up to date with first aid training.
  • Swimming lessons : Sign your kids up for swimming lessons. Make sure everyone in the family is comfortable in the water and has strong swimming skills.
  • Establish pool rules : Set clear pool rules for anyone swimming, such as no running or horseplay.
  • Have safety devices on hand : Have lifejackets, and lifesaving devices close by on the pool deck.
  • Regular maintenance : Keep up with recommended maintenance. Make you’re your pool is working efficiently.

Swimming Pools And Insurance FAQs

Here are some common questions homeowners have about pools and insurance coverage :

Yes. Insurers recommend you to increase your insurance limits to cover the additional liability and increased value of your property.

Yes. A pool will increase your insurance rates. Adding a pool adds value to your home. Since it increases your replacement value, you will need additional coverage.

It depends on the nature of the damage. Generally, pool liners fall under regular maintenance and are not covered. But, if your liner has damage because of a storm or a tree falling on it, it may be covered. Review your policy to understand the specific instances your pool liner has coverage.

It depends on your insurer and your policy. It can also depend on your pool type, your water damage coverage, and other factors. Review your policy or speak to your broker to know what is covered.

Pool leaks are generally not covered. They are normal wear and tear. But, if a leak is caused by damage from a tree or storm, you could be covered.

Insurers require you to follow all municipal regulations regarding pools. Almost all cities in Ontario require you to have a fence around your pool. There are certain fence bylaws you must comply with in order to get a permit for pool installation.

Homeowners can be liable if someone drowns. This includes guests and trespassers. Always take all required safety precautions and ensure you have additional liability coverage.

Screen enclosures are generally not included in a standard home insurance policy. You can purchase additional coverage for your enclosure.

Going for a swim is a great way to cool off in the summer. But, make sure your pool is properly covered with adequate insurance coverage first.

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