You’ve long wanted to get a swimming pool for your family. You’ve budgeted for it. You’ve planned where it will go. You’re talking with a swimming pool contractor from Advanced Pools, Inc. about the project, but have you talked with your insurance agent? Will your insurance get cancelled if you get a swimming pool? It might. Or the premium may get increased so much that it is a strain on your budget.
Will your insurance get cancelled if you get a swimming pool?
With everything you’re thinking about when you’re getting a swimming pool, your homeowner’s insurance probably wasn’t at the top of your list or top of mind, but it should be. Prior to signing any contract for a swimming pool, give your insurance agent a call.
There may not be any issue or your insurance agent may recommend you dramatically increase the liability coverage or even suggest you get what’s called an umbrella policy that has a $1 million coverage limit. Additionally, you may want to buy additional coverage for the swimming pool itself.
When you become a pool owner you should definitely increase the limits of liability on your policy and it is something your insurance agent will likely recommend. You simply cannot predict whether someone will get injured in or around your swimming pool and you don’t want to be financially bereft if that happens. Although, again, you need to know whether your homeowner’s insurance will provide coverage if you become a pool owner.
Not having the proper insurance coverage and a policy to cover the hazards of swimming pool ownership and its inherent dangers your family can be at great financial risk. If your homeowners insurance company won’t cover you for a swimming pool, your pool contractor may know of an agency that will provide pool owner specific policies.
Know the exposures your policy will cover you for, or will exclude you from, before you invest in a swimming pool project.