When you’ve finally saved up enough for a pool installation, you might be eager to move forward with the excavation and construction process. However, have you thought about how the project will affect your homeowners insurance? You need to find out just how much it might change your premium, or if you’ll need to purchase additional coverage to stay safe. Use the following guide to stay in-the-know when it comes to this property addition.

What Insurance Changes Are Necessary With a Pool Installation?

Standard Policies 

First, find out whether your current homeowners insurance policy will take care of damage to the new pool. While these policies generally protect homes and their extraneous structures, your carrier might not consider a pool to be in the same category as a shed or gazebo.

If it’s not included, you might need to purchase pool insurance on top of your homeowners policy. If it is included, the value of your home will rise significantly, causing your monthly premium to also increase. 

Liability Coverage & Attractive Nuisances 

Next, you’ll need to consider liability protection in case someone gets injured in or around the pool. In most cases, your homeowners insurance policy will take care of the medical bills and legal fees for a guest—but not for you or other members of the household.

However, pools are also considered “attractive nuisances.” Like trampolines, these fun features might naturally entice a child to play or explore, possibly resulting in injuries or accidents. Even if a neighbor’s child was trespassing, you’re still responsible for any harm that might come to them. Since the liability aspect of most homeowners insurance policies won’t cover such costs, owners with attractive nuisances should purchase additional liability protection.

What Can I Do to Lower My Premium?

Since these changes are likely to raise the monthly premium for your homeowners insurance policy, it pays to look for ways to save money. First, make sure your pool is up to code, and that it doesn’t contain additional hazards such as diving boards or water slides.

Make sure the area around your pool is paved with a slip-resistant material, such as textured concrete, instead of slippery tile. To lower your monthly payments, make the pool less of an attractive nuisance by installing a fence with a locked gate. This way, even if kids are curious, they can’t gain access without your permission and supervision.

If you need to find a homeowners insurance agent that will work with you to find the optimal coverage, turn to Allstar Insurance of Lincoln, NE. Their agents have been helping clients since 1995, and they’re happy to remain family-owned and -operated. With a combined 50 years of experience, it’s easy to find the car, motorcycle, RV, or homeowners insurance you require. To learn more about their trusted team, visit the website, or call (402) 477-0900 today with questions.