Having a swimming pool can turn your backyard into a relaxing oasis and provide your family and guests with hours of entertainment. However, it’s also likely to cause your home insurance premium to rise due to the added risk. As such, before you install a pool or purchase a property with one, it’s a good idea to explore how this pool will affect your policy. Below is an overview of how owning a pool can impact your coverage.

What to Know About Swimming Pools & Home Insurance

Liability Coverage 

If someone gets hurt while accessing your pool, you may be held responsible for all incurred medical expenses. Fortunately, liability coverage is packaged into a standard home insurance policy. This coverage is designed to pay for the injured party’s losses and any legal costs that arise should you get sued. However, basic liability limits typically aren’t high enough to cover swimming pool accidents. Thus, it’s wise for property owners to purchase umbrella insurance for an extra layer of protection. This will provide you with liability coverage that extends beyond the limits of your regular policy. 

Coverage for Pool Damage 

Generally, home insurance will also cover damage to your pool if it’s caused by an event such as fire, vandalism, hail, or lightning. Your policy will provide the funds you need for repairs or replacement, but the coverage that applies will depend on the kind of pool you have. Above-ground pools are considered personal property, while in-ground pools are usually covered as an external structure. In either case, you may need more coverage if you want to receive the full cost of a replacement in the event of a disaster, especially if your pool has custom features that increase its value. 

How to Limit Your Risk 

There are several steps you can take to improve pool safety, thereby mitigating your liability and lowering your coverage rates. This includes securing your pool behind a locked fence, keeping it covered when not in use, installing lights, posting and enforcing pool rules, creating a non-slip deck surface, installing indoor alarms that alert you when the pool area has been accessed, and making sure young children are always supervised while swimming. Note that many insurers will exclude liability coverage if you lack the proper safety precautions necessary to reduce the risk of injury. 

For assistance reviewing your home insurance options, contact Phil Taylor Insurance Agency. As an independent agency, they’re able to compare policies from multiple carriers to ensure you receive the most suitable and affordable coverage for your unique needs. Since 1960, they’ve remained committed to helping Clarksville, AR residents protect every aspect of their life. Call (479) 754-2616 to request a quote, or visit them online to learn more about the products they offer.