How Pools May Affect Your Home Insurance

by owner

swimming pool dnagers that could raise your home insurance ratesIf YOU live in the greater Atlanta area and have a swimming pool then listen up….

A swimming pool is great to have, but did you realize it may be affecting your homeowner’s insurance? There are several reasons why. The first is that homeowners insurance is based on risk, and a pool increases the amount of risk associated with a location – people could slip and fall, and drowning is always a threat. That can result in an increase of premium. Another reason is because your insurance only covers so much damage, and including your pool in the total value of your home can also increase premiums.

There are other factors to take into account, such as diving boards. Many companies will not insure a pool with a diving board because of the increased risk. Although it is possible to find a company that will, their rates will no doubt be higher than competitors – however, if they are the only option, then you don’t have as much choice.

Pools are also a liability concern. If someone wanders onto your property and then gets injured or drowns in your pool, you can be held accountable. For this reason, it’s best to make sure the pool is sealed off and cannot be seen from the outside. If you have children, the risk is higher because they will likely have friends and guests over.

A pool can affect your insurance in many ways, so it is important to take those additional costs into account before committing to the installation of a pool. On top of the costs of purchasing a pool (which is often several thousand dollars), you should set aside room in your budget to handle the increased premiums of your insurance policies. Areas where pools are common may not feel the effects as much as an area where pools are more of a luxury item.


Addition web resources:

Lloyd Pro Group | Nationwide Insurance
2675 Breckinridge Boulevard #100, Duluth, GA 30096
(770) 497-1200

Common home insurance questions:

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