One of the best ways to enjoy the summer with those that you love is to have a swimming pool to enjoy endlessly in your backyard. Having your own private pool is a luxury that many people enjoy. However, if you have a private swimming pool on your property, it can come with certain risks. When it comes to your homeowner’s insurance, it can impact your insurance policy as well as your premiums. Signet Insurance Group is here to talk about how a swimming pool can impact your homeowner’s insurance.
You Have to Disclose a Pool to Your Insurance Company
If you have a pool in your backyard, it isn’t something that you can keep a secret from your insurance company. This is important because you want to make sure that your home is covered in the case that there is an accident or damage to your home as a result. As a pool owner, there is liability that comes with owning a pool. You are liable for everyone that participates in swimming in your pool. If you have lied to your insurance company about having a pool, you may end up being underinsured and would be unable to rebuild if something were to happen to your house.
Premiums Often Increase with the Presence of a Pool
For the most part, homeowners’ insurance increases when there is a pool on the property. This is because pools increase the replacement cost of the house, and pools increase the liability risk of your home. If the house were needing to be replaced, the pool increases the cost of that. Likewise, if there were an accident where injury or death occurs in the pool, your insurance policy needs to be able to cover damages and medical costs. This isn’t something that insurance companies take lightly.
Having a Fence Around the Pool Matters
Something that homeowners need to understand is that the presence of a fence around their pool will make a difference in their insurance coverage as well. In fact, there are several companies that won’t insure you without a fence installed. This is an important safety put in place to help keep injuries and death from happening. If you don’t have plans to put a fence around your pool, consider that this will have a large influence on your ability to get homeowners’ insurance.
Home, Business, Life & Auto Insurance Agency in Henderson, North LV, Reno, Spring Valley, Enterprise, Sunrise Manor, Paradise & Las Vegas, NV
It’s hard to say how much your pool will impact your homeowners’ insurance policy. Each property is unique and has unique needs that will impact their homeowners’ insurance policy and how much coverage they need. When you’re looking for homeowner’s insurance and have a pool in your backyard, you can turn to Signet Insurance Group to do the work in finding the right policy for your property. We will do the work so that you don’t have to. Let us help you find the best coverage at the best cost. Call us today!
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