Does A Pool Affect Your Home Insurance?

There is no doubt that it can be quite difficult to try to figure out how much money a swimming pool can add to your homeowner’s insurance premium. Most homeowner’s insurance policies feature two different parts. This includes the liability coverage of homeowner’s insurance and the damage coverage. If you decide to buy a home that has a swimming pool, it is likely that you will have to obtain an insurance policy that has enough coverage to pay for your home and your swimming pool. Swimming pools normally increase the liability risk and your coverage will have to be increased. In addition, you have to remember that the value of the swimming pool and the value of your home are considered as well.

Damage Coverage

A swimming pool is normally listed as a separate structure on the damage coverage part of your insurance policy. Most insurance policies provide coverage that provides around 10% of the amount of coverage that your home has for swimming pools. You have to remember that when you are adding a pool to your home you might not have enough coverage for your pool on your policy. This means that it will need to be increased.

Liability Coverage

Liability coverage is normally the main part of your insurance premium. If you are adding a pool to your property, you will have to increase your liability. Although a pool increases your liability risk, there are various things that you can do to decrease the amount of money that you pay each month. For example, putting a fence around your pool normally lowers your insurance costs and reduces the liability risk. In addition, you can add lights, locks and other types of security equipment to help. Avoiding diving boards and slides can reduce your liability risk as well.



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