A swimming pool is a popular home upgrade. However, since it comes with risks, you may find that it impacts your homeowners insurance policy. It's important to understand these coverage changes so that you can adjust your plan details and reduce any premium increases. Use the following guide for some helpful advice.

A Guide to Pools & Homeowners Insurance

Coverage Updates

Insurance companies consider a pool an attractive nuisance. This term means that an unsupervised child may be drawn to the pool and injure themselves, resulting in a liability lawsuit. Due to this concern, your provider will increase your monthly premium to reduce their financial risk.

However, a pool is an asset, and it's important to cover potential damage. Since there’s an increased risk of injury, you’ll want more liability coverage. Although this raises your monthly premium, it's useful if a guest is injured on your property. It will cover any legal fees and payouts if they decide to sue.

Ask an insurance agent if the pool is covered by your homeowners insurance. For example, a falling tree could break the liner or deck. Depending on the pool's value, you may want to increase your policy's total coverage amount.

Consider the differences between in- and above-ground pools. Many carriers list above-ground pools as personal property rather than part of the home. In-ground pools may be considered an “other structure,” similar to how sheds and detached garages are classified. The designation can affect the payout you receive if an incident occurs. 

Controlling Your Premium

You may be able to prevent high premiums by reducing your liability risk. Installing a childproofed fence around the pool will drastically decrease the chance of someone wandering onto your property and falling in. You can also install lights around the pool deck, add traction pads to reduce slips, and post warning signs so that neighbors are aware of the risk. Once you've made these changes, an insurance agent will adjust your premium accordingly.

If you’re looking for affordable homeowners insurance, contact Absolute Insurance Agency in Foley, AL. Since 2011, this family-owned agency has served customers throughout Baldwin and Mobile counties and assisted with boat, motorcycle, and auto insurance. Visit their website to learn more about their services, or call (251) 942-6837 to ask any questions.