Do I Need Swimming Pool Liability Insurance?

A swimming pool can be a fun addition that can in some cases add value to one’s home. However, what many people do not  realize when considering whether or not they should add pool to their home is that a pool can raise the cost of one’s homeowners insurance.Pool Liability, TJ Woods Insurance, Worcester, MA Therefore, it’s important to understand how a swimming pool affects your liability insurance before choosing to install one.

Swimming pools are fun, but they can also be dangerous. The risks of someone drowning or becoming injured are increased, especially if the necessary precautions are not taken. These risks are what cause insurance companies to be wary about covering damage that can be caused by swimming pools. While there are a number of factors that go into how much your premium will go up, it is nearly guaranteed that a swimming pool will cause it to go up.

Not all pools are considered equal when it comes to insurance. If the pool has a diving board, your insurance premium will definitely go up. In some cases, you may even be denied coverage due to a diving board or a slide, or an exception will be written in to your contract so that the insurance company does not have to become involved with these risky additions. On the other hand, if you have an above-ground pool, you will have less liability than if you have an in-ground pool and therefore a lower premium.

Putting a fence up around the pool will prevent anyone from using the pool without your knowledge. Even if your neighbor uses your pool without your permission and then becomes injured, you are still considered liable. Due to this fact, it is important to have insurance that covers your pool.

Note that while any injury caused by your pool will be covered under your liability insurance, damage to your actual swimming pool will not be covered. You will need a separate plan if you want to cover your pool in case it is damaged. On the other hand, if you have an above-ground pool that is harmed by foul weather, it may still be covered by your regular homeowners insurance policy.

What happens if you neglect to tell your insurance company about your new addition? Some people may think they can get away with not notifying their insurance company, however, if something bad were to happen as a result of the pool, this could mean penalties and lack of coverage, or you may even be sued.

If one company denies your insurance because of your pool equipment, don’t give up. Another company may be able to offer you coverage. The cost to cover your pool in your liability insurance will also vary depending on who provides your insurance. TJ Woods Insurance, located in Worcester, MA, is happy to offer competitive rates on homeowners insurance, so contact us today to learn more.