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

The insurance costs for your pool can vary depending on its size, type, and value. Additionally, limits can also affect how much you pay. As a general rule of thumb, you can pay around $25-$75 more per month to insure a pool. But, get a quote to know how much a pool will affect your policy.

There are two main ways a pool affects it:

• They increase risk
• They raise your property value

These factors will have an impact on your costs and plan limits. Installing a pool increases the value of your property. You must increase your limits to ensure they align with your home replacement value.

It is important to remember that whether you are installing or purchasing a home with a pool will impact your costs. This applies to all types of pools, including above-ground, in-ground, and in-ground pools. It is your responsibility to ensure the safety of those who use it.

It is crucial to inform your insurance broker if you have a pool on your property so they can provide you with the proper swimming pool liability insurance coverage limits to adequately address the increased risk exposure. If someone gets injured and sues you, your claim will get denied if you fail to inform your insurer about your pool. You may face challenges getting coverage in the future.

Whether insurance covers pool damage depends on the specific circumstances, the type of insurance policy you have, and the cause of the damage. Here are some common scenarios:

• Your home policy: If your pool sustains damage due to a covered peril under your homeowner's insurance policy, such as fire, vandalism, or a fallen tree, your policy may cover the expenses for repairing or replacing the pool (up to your policy limits).
• Weather related events: Whether or not the damage caused by flooding is covered depends on whether you have separate flood insurance or earthquake insurance. Most homeowner's insurance policies do not cover flood damage. It is important to have flood insurance if you live in a flood-prone area to safeguard your property, including your pool.
• Pool endorsement: Certain insurance companies provide endorsements or riders designed specifically for swimming pools. These can offer additional coverage beyond what is included in a typical homeowner's policy. The additional coverage often protects against equipment breakdowns, damage to the pool structure, and liability related to the pool.
• Maintenance: Insurance typically won't cover damage from lack of maintenance or normal wear and tear. You'll likely be responsible for the repairs if your pool is damaged due to neglect or aging.

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When insurance would cover a pool claim:

If a severe storm with strong winds causes a tree to fall onto your pool and damages its structure and equipment, your homeowner's insurance policy will likely cover the damage. Most homeowner's insurance policies usually consider falling trees a covered peril. Your policy should cover repairing or replacing the damaged pool structure and equipment, subject to policy limits and deductibles.

When insurance would not cover a pool claim:

Over time, the lining of your pool can deteriorate due to lack of maintenance, which can cause cracks, leaks, and other structural damage. Unfortunately, in this scenario, your homeowner's insurance policy is unlikely to cover the damage to your pool. Damage caused by lack of maintenance or normal wear and tear is typically excluded from coverage. Since the damage is a result of neglect rather than a sudden and unexpected event, you will likely be responsible for repairing or replacing the pool out of pocket.

It is crucial to carefully review your policy to comprehend what is covered and what is not concerning your swimming pool. If you have any particular concerns about your coverage, seek guidance from your broker to clarify the matter.

You may be surprised to hear that depending on the type of pool you have can impact the type of pool insurance you need.

• Above ground: These are typically seen as personal property rather than a permanent structure. This is because they can be drained, disassembled, and relocated if the owner decides to move. As a result, if the pool is damaged, it may be covered by a different level of financial protection than a permanent structure.
• In-ground: Generally, an in-ground pool is considered an "other structure" and requires additional coverage to protect it from damage. The cost of this coverage depends largely on the cost of replacing your pool.

It's important to note that different municipalities may have specific requirements that an insurance company needs to satisfy before approving your coverage. For instance, your insurance application may be rejected if you don't have a fence that can secure your pool from unsupervised public use.

8 must know pool safety tips

You need to take steps to reduce risk if you have a pool on your property. 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 nearby.
• Supervision: Adult supervision is a must when children are swimming. 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. Ensure everyone in the family is comfortable in the water and has strong swimming skills.
• Establish rules: Set clear rules for anyone swimming, such as no running or horseplay.
• Have safety devices on hand: Life jackets and lifesaving devices on the deck.
• Regular maintenance: Keep up with recommended maintenance and ensure it works efficiently.