Articles Editor's Blog Reader Mail

How a Pool Affects Your Home Insurance Ames IA

The first thing you have to do is check your existing homeowner policy. Does it make any mention of pools or coverage for pools? It may even be listed among the exclusions on the policy, which means you definitely need additional coverage. Usually, your pool will be covered under other structures. Do you have coverage for other structures?

Severson Insurance Agency Inc
(515) 232-7203
205 Clark Avenue
Ames, IA
 
Campbell Insurance Agency Inc
(712) 328-3975
103 North Avenue Suite 9
Council Bluffs, IA
 
White Pigeon Mutual Insurance Association
(563) 732-2072
105 West 4th Street
Wilton, IA
 
Cook Insurance
(641) 642-3612
104 N Main
Moulton, IA
 
Dodds Bob Insurance Agency
(319) 392-8311
202 North Main Street
Danville, IA
 
Allstate Insurancemarci Baldwin
(515) 232-0771
516 Lincoln Way #b
Ames, IA
 
Treynor Insurance Svcs
(712) 487-3345
15 East Main Street
Treynor, IA
 
Gregg Aistrope Agency Inc
(712) 527-3189
105 South Locust Street
Glenwood, IA
 
Corevens And Company
(563) 242-5423
2301 North 2nd Street
Clinton, IA
 
Buena Vista Mutual Insurance Association
(712) 732-6595
1711 Lake Avenue
Storm Lake, IA
 

How a Pool Affects Your Home Insurance

Provided By: 

How a Pool Affects Your Home Insurance

Ah, the joys of a pool. Cooling off after a hard days work. Having a party with friends. Perhaps you've lined up the contractor and the pool supplies, maybe even planned that party. But heres something to consider: Do you have the right insurance coverage for that wonderful new backyard accessory?

The first thing you have to do is check your existing homeowner policy. Does it make any mention of pools or coverage for pools? It may even be listed among the exclusions on the policy, which means you definitely need additional coverage. Usually, your pool will be covered under other structures. Do you have coverage for other structures?

Why check your policy? The main reason is to confirm that your basic homeowner insurance provides you with these two things:

  1. Coverage for damages to your home and other structures on the premises (like your prospective pool)
  2. Liability protection in the event someone sues you

If I've got this, arent I okay? Yes and No. You should always notify your insurance agent that a pool has been installed, just to be sure that there won't be any problem. However, once you have a pool installed, you are more likely to have to call your insurance company because of the kinds of risks, both in terms of damage and liability that comes with a pool. Since you are increasing the risk to your insurer, you can assume it will cost you more money in premium. It may not be a substantial increase, depending on your insurer, but there will generally be an increase.

Are you sure you have enough coverage? This is an important question. If you want to get the right coverage, you'll have to consider your situation and your needs. Lets talk first about damage to your new pool.

A pool is considered separate from your dwelling, so it's usually covered under the category of "other structures" on your policy. The standard amount of insurance for such items is 10 percent of the coverage amount for your dwelling, though some policies will provide up to 20 percent. So the biggest issue is whether this amount of coverage is sufficient to cover the cost of your new pool.

Lets say you have a home worth $150,000. You have the standard coverage for other structures of 10 %. This would give you $15,000 for your pool and anything else separate from your house. Continuing with the above example, if your pool cost $14,000 and you also have a detached garage worth $10,000, plus a gazebo overlooking your pool worth $6,000, you've got $20,000 in separate structures. This calls for a change in your insurance coverage.

So what kind of damages are covered for your pool? The most common homeowners policy in the United States will protect your pool from all perils except those specifically excluded in your policy. However, some insurance will only protect your pool against some 17 named perils specifically listed. Check the details of your policy and be prepared to make changes in your covera...

Click here to read the rest of this article from Insurance Guide 101

About Us | Contact Us | Link to Us | Privacy Policy | Terms of Use | Insurance Resources | Sitemap