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Understanding the Insurance Risks Associated with Swimming Pools

How installing a swimming pool increases your personal liability risks.

While the idea of relaxing by your own pool sounds alluring, building a pool on your property is a major decision that requires careful consideration.  One of the things to think about is how having a pool will increase your risk, and therefore your homeowners insurance rates.  Here is how a swimming pool will impact your personal liability.

Insurers categorize swimming pools as an “attractive nuisance.”  Attractive nuisances are features on a property that might attract a child and pose a risk to his or her safety.  If you have a pool on your property, you will automatically be responsible for the wellbeing of any child who uses it, regardless of whether you have given them permission or not.  As over 1,000 children drown in U.S. swimming pool-related incidents every year, your pool does come with significant risk.

Because swimming pools increase the homeowner’s personal liability risks, standard coverage limits might not be adequate.  While a standard home insurance policy might offer $100,000 in personal liability coverage, a homeowner with a pool is recommended to purchase up to $500,000 in coverage.  In some cases, homeowners will need to secure an umbrella policy to get even more coverage.  Because higher coverage limits translate into higher insurance costs, it’s important to speak to your insurer to see how installing a pool will increase your premiums.

This is how having a pool will affect your personal liability risks and your homeowner’s insurance costs.  Do you have further questions about your home insurance coverage?  If so, then contact the experts at Scautub Agency in Scotia, New York.  We are ready to assist you with all your home coverage needs today.

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