by Guest » Thu Sep 08, 2011 09:39 am
I'm getting a pool made in my backyard. I've heard that having a pool increases the premium of home insurance. is this true? do I have to pay more to the insurance company just for getting a pool in my house?
Posted: Thu Sep 08, 2011 12:29 pm Post Subject:
You would probably want to add your swimming pool to your homeowners policy, because it does belong to your property.
This might increase the premium.
How much it’ll increase that depends on various factors, as to the safety measures taken, equipments, whether or not your house is in an area where pools are common, you reside in a northern or southern state etc.
Swimming pools are considered as a big liability factor.
Ask your insurer about the details.
Posted: Fri Sep 09, 2011 06:36 pm Post Subject: Attractive Nuisance
Look up the term "attractive nuisance" and you'll get a better idea of the legal responsibilities and liability that come with a swimming pool.
Here in Georgia, you are required to install a locking fence of a certain height around an in-ground pool. Two of my four primary Homeowners markets also have the same requirements as the state and they charge a $50-$75 surcharge for the pool. One company requires a minimum of $300k Personal Liability limit on the HO policy and the other one has a minimum of $500k, compared to the $100k minimum standard. Our two other carriers won't even write a home with a pool.
Our agency rule is to write a Personal Umbrella for at least $1-million, preferably $2-million, when we insure a home with a pool. I would suggest you consider adding an Umbrella to your coverage, if you don't already have one![/b]
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