Swimming Pools & Insurance Considerations

If you are installing a new in-ground swimming pool or above ground pool on your property, you should look into other insurance options besides the typical coverage given on your homeowners insurance. In the event of an accident in or around your swimming pool, many times homeowners insurance is not alone sufficient to protect you and your assets in the event of a lawsuit. If you are already a pool owner or are considering a new swimming pool, you should look at more comprehensive insurance options.

If you are not properly insured and someone gets hurt around your swimming pool, it can lead to trouble. Even if your pool will only be used by family and friends, anyone - and sometimes especially family and friends - may turn on you and consider a law suit as a means to recover damages from a loss. Getting sued by people close to you is usually not out of spite or hatred but many times out of necessity. Medical expenses are high and can mount up to a point that there is no way out of the insurmountable debt. Many times, if a serious injury has occurred, people can't afford not to sue. The bad news for pool owners is if the accident happens around your swimming pool, you are ultimately at fault regardless of the atmosphere the accident took place.

If someone does get hurt, don't be alarmed if you get sued. It happens and accidents happen when you least expect it. Even if you monitor your swimming pool 24/7, accidents happen in the blink of an eye. Pools are hazardous areas and accidents usually occur by diving and running around the slippery surface surrounding the pool. But, don't let this turn you off from pool ownership. Accidents can happen anywhere - in your yard, in your home, on your sidewalk - anywhere. Swimming pools have statistically higher accident rates so it is a good idea to opt for extra insurance and keep you completely covered.

Liability insurance is the best insurance to get for swimming pool owners. Try to get the highest coverage possible in your price limit such as 300k - 600k. An umbrella plan is also a great option because it is a separate liability policy in addition to homeowner coverage. The umbrella plan kicks in extra coverage when your homeowner's insurance plan drops off ensuring complete coverage in any situation.

Cost wise, the extra insurance coverage is not bad. The umbrella coverage or stand alone liability plans are usually an extra 30 to 40 dollars extra a month. To offset the costs even further, consider buying all of your plans from the same insurance provider. Insurance companies usually offer bulk discounts if you purchase all insurance from them (i.e. life, auto, home, liability). As pool owners, extra insurance is not a necessity but it is highly recommended. It is better to be safe than sorry.