One of the most common questions customers ask us is, “will my homeowner’s insurance cover my pool?”. In short, yes, your homeowner’s insurance will help pay for repairs if a covered peril damages your pool. Your liability coverage could also protect you in the event someone is hurt at your pool. However, the type of pool you have affects when coverage in your homeowner’s insurance policy comes into play. To make things easier, we put together a guide on everything you need to know about swimming pools and insurance.
How Homeowner’s Insurance Applies to Swimming Pools
As we said above, the vast majority of homeowner’s policies will cover swimming pools. The two coverages that are generally applied are either the “other structures” or personal property coverage. Usually, this depends on if you have an above- or in-ground pool.
Above-Ground Swimming Pools and Insurance
If you have an above-ground pool that does not have any permanent structures attached to it, your insurance company will probably consider it part of your personal property. Mainly because if you were to move, you could take the pool with you. So, before your purchase that new pool, be sure you talk to your agent and ensure you have enough coverage to pay for it. Also, talk with your agent about policy and category limits to learn how much protection you’ll get for your pool.
Coverage for In-Ground Pools
If you have an in-ground pool, you will need to make sure your policy includes “other structures” coverage. “Other structures” coverage covers any permanent structures that are not directly attached to your home. If you do not have this particular coverage, you need to make sure to add it. Typically, it will not increase your premium much and will depend on the size of your pool.
Liability and Swimming Pools
In addition to covering the damage to the home and other structures, homeowners insurance also includes liability coverage. While most policies generally include substantial amounts of liability insurance, the III recommends increasing your liability limits if you own a pool. We recommend at least $500,00 in liability coverage.
Decreasing Liability Risks
While liability insurance is great to have if you need it, you obviously hope you never have to. Luckily, there are quite a few ways to mitigate risk:
- Install a fence around the pool
- Install a pool cover
- Learn CPR
- Self-closing gates
Extra Liability Coverage
In addition to increasing the liability coverage of your homeowner’s insurance, the III also recommends purchasing a personal umbrella policy. A personal umbrella policy adds extra liability coverage on top of what your homeowner’s policy already has. Typically, personal umbrella policies will include $1,000,000 of liability protection. This may seem like overkill; however, you would be shocked to learn how much a personal injury or wrongful death lawsuit could cost.
Owning a pool may seem stressful, but do not let that stop you from making an addition to your home that your entire family will love. The agents at Arthur Blake Insurance in Plano and Dallas, Texas, have decades of experience and are here to help you get all the coverage you need to enjoy your family pool worry-free. Contact us today for a free quote.