Installing a swimming pool is one renovation project homeowners get particularly excited to invest in. However, while this feature can add a fun and visually appealing element to your backyard, it also increases your risk and responsibilities. As such, it’s crucial to understand what this means for your homeowners insurance. Before starting construction, find out how your coverage needs may change and what you must do to ensure you remain adequately protected. Below is some helpful insight into how home insurance policies are typically affected by pool ownership.

Higher Replacement Cost Value

Homeowners insurance policies are written to cover the replacement value of a property based on the home’s size and features. When your home is updated with new amenities, your coverage has to be amended to account for the higher replacement value.

This applies when adding a swimming pool to your backyard, as most policies will cover any damage it sustains due to a covered event, including fire and falling objects. In-ground pools are covered in the other structures portion of a policy, and above ground pools are covered as personal property. It’s important to note that coverage is usually excluded for damages caused by ground movement and lack of maintenance.

Increased Liability Risks

Swimming pools also increase your exposure to liability claims and lawsuits. Despite taking all the precautions to prevent injuries in and around your pool, an accident can still occur. If it does, you’ll be responsible for covering all of the related medical expenses and any other losses the injured party suffers.

Although your homeowners insurance provides liability coverage, it’s not likely the limits on a standard policy will be sufficient to protect you. This is why you should consider raising your limits or purchasing an umbrella policy for added protection. 

If you’re ready to dive into a swimming pool installation, contact Shelter Insurance® - Michael Flynn for assistance securing the right homeowners insurance. He will help explore different product options and customize a policy that includes suitable coverage for the improvements to your property. Over the years, he has partnered with countless families throughout St. Charles and St. Louis County, MO, to provide them reliable insurance solutions at competitive rates. Call (636) 441-8177 to arrange an appointment or visit him online to request a quote.