Are you one of these lucky people who has the luxury of having their own swimming pool? If so then you need to understand the practicalities of swimming pools and your home insurance. Even if you are only thinking of having a swimming pool built, you should understand the implications with your insurance.
Firstly, you ought to understand what a basic home insurance policy covers. Basically it will cover your home (also referred to as a dwelling), adjacent structures such as a garage or shed, the contents of your home and also liability.
When we talk about insuring your swimming pool, it will be covered under both the "structures" and "liability" sections.
Typically the cover you get for the structures on your property is a percentage of your dwelling. This will cover you for any damages however there are limits. It might be that the percentage of cover isn't enough for your swimming pool too as you may have a number of structures such as a tree house or greenhouse. Contacting your insurance company will give you a better idea of what you need to ensure your swimming pool is adequately covered.
Perhaps the biggest concern with regards to insurance for your swimming pool is in relation to liability cover. This type of coverage will give your financial protection in the event that someone injures themselves due to your pool. If someone slips or drowns you could have a court case on your hands which is a very costly matter indeed.
You might even want to take out a separate umbrella policy which is specifically set up to cover your for liability issues. This can help if your regular home policy isn't quite adequate and you need something that will cover the short-fall. You can expect to pay about $30 a month for this umbrella insurance however better deals might be given from your existing insurer.
Of course, trying to prevent injuries in the first place is always a good idea. There are a number of things that you can do. First of all, if there are kids playing in the pool, you should make sure that there is adult supervision at all times. A fence and gate should also be installed so that young kids can't accidentally stumble into the pool. Basic floatation devices should also be at easy reach such as Styrofoam boards and inflatable arm bands.
There are many risks involved in having a swimming pool on your property but this doesn't mean you should be scared off from the idea. Just make sure you have taken all the appropriate safety measures and take out good insurance. Don't forget to shop around for the best deals because the prices and cover can very a great deal.
