Summer is a time for some fun in the sun, and the pool is an excellent way to stay cool. But, before dipping your toes into the refreshing water, ensure your home insurance policy adequately covers your pool.
Three types of coverage that pool owners need to consider include property coverage, liability protection, and umbrella liability.
Swimming Pool Property Coverage
The property coverage on your homeowners policy protects against physical damage to the pool itself. Depending on your homeowners insurance carrier, in-ground pools may be covered under the “Dwelling” section of your policy, or under “Other (Detached) Structures.” Above-ground pools may be covered under either of these or “Personal Property.” It will depend on the portability of the pool, and whether it has an attached structure, such as a deck.
Fortunately, in-ground pool insurance claims are uncommon because few perils can seriously damage them. One example of a claim might be a tree falling and destroying part of the pool.
Ask your agent for an explanation of how your pool is covered for potential damages.
Swimming Pool Liability Protection
The liability coverage on your homeowners policy protects you against potential lawsuits. Insurance companies consider pools an “attractive nuisance,” and because a backyard pool increases your liability risk, you should consider increasing your liability coverage as well. If a guest injures himself at your pool, you could potentially incur medical bills or legal expenses stemming from the incident. You are responsible for anyone who uses the pool – even a stranger who decides to jump the fence and cool off in your pool.
Be sure to follow any local laws and regulations about pool construction, and take safety precautions to help keep your pool secure, prevent injuries, and comply with the conditions of your policy. For instance, virtually all insurance carriers will require you to install a fence or screen around your pool and move the ladder away from your above-ground pool while it is not in use. You will also want to check with your insurance agent about whether pools with water slides and diving boards are excluded from your home insurance policy. Some insurance carriers exclude liability coverage for injuries involving a diving board or slide, while others will not insure homes that have them.
Though most homeowners policies include a minimum of $100,000 of liability protection, the Insurance Information Institute recommends that pool owners increase the liability amount to $300,000 or $500,000.
Umbrella Liability Policy
To add an extra layer of protection, you should consider purchasing a personal umbrella liability policy. Umbrella protection applies only when the required underlying liability coverage on your homeowner's policy has been exhausted. Your agent can help you determine whether you have appropriate protection in place on your underlying policy to help prevent a coverage gap.
Screen Enclosures
There are additional considerations if your pool is surrounded by a screen enclosure. Many insurance companies no longer insure screen enclosures for hurricane damage, or they have specific guidelines and coverage restrictions. You may need a special screen enclosure endorsement to your policy to cover your enclosure for hurricane, wind, or hail damage. Coverage for the frame and screening may be provided at replacement value or actual cash value. It is essential to explore all options when considering screen enclosure coverage as you do not want to be caught unprepared or underinsured.
By choosing the right insurance coverage for your pool and screen, you can gain the peace of mind that comes with knowing you have the proper protection in place.
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