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.

Depending on what type of pool you have will affect the insurance coverage you need, for example:

*Above ground pools are often considered personal property as opposed to a permanent structure. This is because you could drain it out, pack it up, and take it with you if you decide to move. You could even sell it. So, if it’s damaged, you won’t receive the same amount of financial protection as if it was considered a permanent structure.
*In-ground pools are generally considered an “other structure”. This means you must purchase additional coverage to protect it from damage. How much it will cost to do so depends largely on the cost to replace your pool.

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. Be safe and keep on swimming!