Pools are a great way to cool off and relax during the summer months. Lots of great childhood and adult memories are made at parties and lazy afternoons every day. But with a pool comes extra safety risk, whether it’s a tiny kiddie pool to a full-sized Olympic facility. The pool at your property should be installed correctly and meet or exceed all the local safety standards and building codes in your city. In addition to making sure it’s as safe as it can be, you also want to make sure you’re carrying the right kind and right amount of insurance.While there may not be a special “pool insurance” coverage that you can get for your homeowner’s insurance, having a pool may affect how much liability coverage you have on your policy. In some instances, there may even be “pool exclusions” in a policy.
Since adding a pool can increase the risk of injury on your property, there may be a greater chance that you might have to pay someone’s medical expenses or that someone may sue you for damages.Therefore, you should consider checking and/or increasing your liability coverage above and beyond the minimum levels if you’re a pool owner. In addition, you might want to look into an Umbrella Insurance Policy if they’re available in your state. An umbrella policy typically provides you with a large amount of additional coverage beyond what you have on your other insurance policies.For instance, a few hundred dollars a year may allow you to get up to $1 million in additional liability protection beyond your existing auto and/or property insurance coverages. If it’s available in your state, this can really help to better protect you financially from broader liability risks whether you’re on the road or in your home.