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

Jul 20, 2020

Does My Insurance Cover Swimming Pools?

woman sitting on swimming pool edge with legs in the water

There is nothing like taking a dip in the pool on a hot summer day. It 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 one. You need to think about how a swimming pool affects your 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.

They can 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.

What You Need To Know About Pools And Insurance

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

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 limits. 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 Considerations With A Pool

Two chairs and table by a swimming pool

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

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

Speak with your insurer to assess your needs.

What Are The Swimming Pool Insurance Requirements?

Municipalities set specific requirements. Insurers require all homeowners to follow these rules as a condition of their agreement. 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?

The costs vary based on the size, type and value of your pool. Limits can also affect how much you pay. In general, you can expect you pay approximately $25-$75 more per month to insure a pool.

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

As a homeowner, 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. Make sure 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 : Have life jackets, and lifesaving devices close by on the deck.
  • Regular maintenance : Keep up with recommended maintenance. Make sure it is working efficiently.

Swimming Pools And Insurance FAQs

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

Yes. Adding a pool adds value to your home. Since it increases your replacement value, you will need additional protection.

It depends on your insurer and your policy. It can also depend on your pool type, your water damage coverage, and other factors.

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.

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