Will Home Insurance Cover Your New Swimming Pool?
Adding a pool to your home can be a dream come true and may even increase the value of your home. Pools are also vulnerable to serious damage from a wide range of threats and may expose you to expensive liability suits if someone else is injured on your property. Before breaking ground on your new pool, it’s important to understand what your home insurance covers and whether you need additional protection.
Standard Home Insurance
As long as your home insurance provider knows about the pool, your policy will cover some types of damage. However, it only extends to damage caused by a covered event, such as serious storms or house fires. Home insurance will also compensate you if someone steals your pool pump or intentionally damages your equipment.
However, many types of damage common to swimming pools aren’t covered. For instance, if earth movement or poor installation causes the concrete to crack, you’ll likely have to pay for repairs out of your own pocket.
Liability Insurance
Having a swimming pool also increases the chances of someone being injured on your property. To protect yourself from lawsuits, you may need to increase the liability limits of your home insurance policy to at least $500,000. However, liability settlements in fatal accidents can easily rise to millions of dollars, so you want to consider buying additional protection.
Umbrella Insurance
If the value of a liability claim exceeds the limits of your policy, umbrella insurance will kick in to cover the difference. Umbrella insurance policies are often extremely affordable, giving you peace of mind at minimal expense.
Your home is probably the most valuable asset you possess, so you need a skilled professional to help ensure it’s protected. For over 100 years, Ashland, KY homeowners have relied on Charles Adams Insurance Agency for high-quality home insurance policies tailored to their unique needs. Visit their website for more on their coverage areas, follow their Facebook for tips and advice, or call (606) 325-9709 to request your free quote today.
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