You’ll need to ensure that you have adequate insurance coverage.

Having a pool in your backyard can help you and your family to create lasting memories. However, if you’re adding a swimming pool to your home, you’ll need to ensure that you have adequate insurance coverage. With the potential for accidents such as drowning or injuries, adding a pool to your home will definitely warrant an insurance review. When reviewing your policy, you’ll want to refer to its “other structures” section. Some things to consider include how much liability coverage you’ll need, and how much having an in-ground swimming pool will increase the value of your home and its replacement costs.

What will my homeowner’s insurance cover for my swimming pool?

Your policy will protect you in case your pool is destroyed due to a natural disaster like an earthquake or lightning. Other structures and pool accessories like a pool house, fence or tool shed are also covered.

Do I have enough liability coverage to have a swimming pool?

Liability coverage is typically where most homeowners with swimming pools come up short. Many kids enjoy hanging out at the neighbourhood home with a pool. But what happens if a child has a pool accident or drowns? Do you know you could be liable for medical costs or hospitalization? A wrongful death suit claim could also be brought against you. To protect your financial future, along with increasing your liability coverage, you might consider purchasing an umbrella policy for supplemental liability protection.

Stipulations for swimming pool coverage

Before making your pool plans, you should check with your broker to see what, if any, policy limitations you should consider. For example, some insurance companies will not cover you if you have risky pool accessories like diving boards or slides in your pool area. Once your pool is installed, you should take every precaution to keep guests safe. These safety measures like have swimming pool aids nearby might also be required for coverage with your insurance company.

Keeping unwanted guests out is just as important. Consequently, you should install a fence that is 4 feet or higher. Be sure to place a lock or alarm on the gate. A safety pool cover might also be a good idea.

Have any questions? We can help.

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