Swimming pools can be an attractive addition to your home, yet can pose unique insurance considerations. In this article we explore answers to common questions such as, Does home owners insurance cover swimming pools?
Pools are generally covered under your other structures limits and liability coverage; however, several factors could impede your eligibility for coverage.
Coverage for Damage
As with most parts of a homeowner’s policy, coverage for swimming pools depends on their classification by insurers and which portion they belong in. Most in-ground and permanently installed above-ground pools fall under other structures coverage; temporary above-ground or portable ones might fall into personal property coverage instead. Should your pool become damaged in an insured peril such as storm or fire, however, either personal property coverage or other structures coverage would cover any resulting losses; subject to any applicable deductibles.
Homeowners insurance offers liability coverage that will pay medical expenses and legal fees should someone be injured by your pool on your property. As pools pose greater risks than other structures, many homeowners opt to increase their standard liability levels when installing one on their property. If you need guidance deciding what amount is necessary for you, contact one of Goosehead Insurance Agency’s expert advisors who will be more than happy to assist.
As part of their inspection process for homeowners insurance policies, insurers typically send over a home inspector for a full home inspection prior to approving any policy. As part of this inspection process, home inspectors often inquire about your swimming pool and may direct you to install fencing around it within a specified period. Failing to do so could cause the insurer to deny claims related to it or even cancel your policy altogether.
Avoid not disclosing that you own a pool to your insurance provider as failure to do so could constitute fraud and lead to serious legal consequences – in extreme cases it could even land you behind bars!
Swimming pools can be costly investments, and you should take all measures necessary to safeguard them against damage. A clean pool and sound safety precautions can reduce insurance premiums and lead to savings.
An investment in a swimming pool can add enjoyment and value to any home, but understanding your coverage options is critical in case something unexpected should arise that requires filing a claim without major financial strain. Our team of Goosehead insurance experts can review your policy to identify ways of safeguarding it best.
Coverage for Liability
Pools can be an amazing asset to a home, yet they can also be potentially hazardous. Drowning is the leading cause of unintentional injury-related deaths among children aged one to four; most deaths take place at family gatherings with swimming pools present. Therefore, it’s crucial that your pool be kept properly maintained and extra precautions be taken around it to reduce potential risks.
Swimming pools provide an enjoyable way to cool off during the hotter summer months while simultaneously helping reduce liability as a homeowner. Unfortunately, even vigilant and responsible pool owners may be held liable for injuries occurring on or near their property; thus if you own one it’s essential that you consider risk of injury and increase liability coverage accordingly.
Not to worry though; most standard homeowners policies include swimming pools within their definition of “other structures,” providing coverage for its physical structure under this section of your policy and personal liability protection against claims for injuries sustained from using your pool.
However, the exact details of this coverage can differ between insurers. Furthermore, other structures and liability coverage have certain restrictions; so if your pool is particularly large and expensive it might be wise to increase coverage limits to protect assets more adequately.
Pools can sustain physical damage as well as being susceptible to hail, wind and fire damage. Therefore, it’s wise to obtain additional coverage by purchasing either an endorsement for your existing policy or increasing coverage limits on it.
Are You Curious How Having a Pool Affects Homeowner Insurance? Contact Our Team Today To Discuss Options!
Coverage for Other Structures
Swimming pools provide an enjoyable way to unwind and cool off, but they can be hazardous spaces as well. Should someone fall in or around your pool, medical bills and legal costs could quickly accumulate. Therefore, homeowners are strongly advised to consult their insurance agent about increasing the liability limits on their policy; also adding a pool may provide an opportunity to consider an umbrella insurance policy as a safeguard.
Although physical damage to a swimming pool is covered under other structures coverage, damage to its equipment and accessories is difficult to predict in advance. For instance, pool pumps often represent significant investments that make calculating replacement costs challenging. Most insurers will cover part of this expense provided it was caused by one of the named perils listed on a policy, such as wind or fire.
Unless the pool damage was covered under your policy, such as storm or vandalism damage, you may require an additional property protection policy known as personal umbrella insurance to provide extra liability protection (usually up to $1 Million over and above the limits of home policies) at a relatively affordable cost if it has been damaged in any way. Personal umbrella coverage may be well worth looking into for pool owners or those considering installing one in their backyards.
In-ground pools typically fall within the other structures section of a homeowners insurance policy; however, above-ground pools may be classified as personal property and therefore not be covered under this portion of coverage. It’s essential that homeowners discuss this matter with an agent in order to understand how their pool fits into the overall policy framework and which options exist for protecting it.
Pools are an enjoyable way to unwind and spend summer days relaxing, yet they also pose risks to any property. Installing safety measures such as a perimeter fence, non-slip surface, proper signage and safety railing may reduce injuries associated with pools while making sure children remain within arm’s reach of an adult whenever in or near them can prevent accidents from happening and reduce premiums accordingly.
Coverage for Personal Property
Homeowners insurance does not generally cover damage to swimming pools that is caused by perils not listed on its policy. For example, normal wear and tear or maintenance tasks like draining and cleaning would likely not be covered under homeowner policies; similarly with water freezing over, which damages surrounding structures as well as leading to leakage issues – neither would be covered under their coverage policy.
Therefore, it is imperative that when installing a swimming pool you notify your insurance provider as soon as possible. Otherwise, they could cancel your policy upon its renewal and leave you without coverage for your pool and any potential damage it might cause. Furthermore, installing one without their consent could make you personally responsible for any incidents caused by its installation as a result of your negligence or other actions of the homeowner.
If your pool is portable and aboveground, it will fall under personal property coverage under other structures coverage. If it is permanent and unmoved, its classification could depend on your provider and coverage limits; most homeowners policies offer 50-75% dwelling, other structures and personal property coverage limits which should cover a pool adequately; alternatively an umbrella policy offers higher liability limits at an affordable price.
Pools can be an enjoyable addition to any home and can provide hours of family fun for generations. But it is essential that homeowners remember the risks associated with owning one and review their policies as necessary and consider adding extra liability or umbrella coverage in case any potential damages occur. Mark Fitzpatrick, Senior Content Director of MoneyGeek with over five years experience analyzing insurance markets, conducting original research, and creating personalized content is a top expert on personal finance topics such as CNBC, NBC News and Mashable have quoted him regarding these topics on several publications, including CNBC, NBC News and Mashable.