Articles Editor's Blog Reader Mail

How a Pool Affects Your Home Insurance Clovis NM

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?

Stroud Insurance Agency
(505) 258-3377
Po Box 3240
RUIDOSO, NM
Services
Homeowners Insurance

George Gandy Insurance
(505) 396-5516
614 South Main
LOVINGTON, NM
Services
Homeowners Insurance

Allstate Insurance - Margie Delgado
(505) 821-0276
8101 San Pedro Ne Suite C
ALBUQUERQUE, NM
Services
Homeowners Insurance

Manuel Lujan Agencies
(575) 266-7771
2001 San Mateo Blvd NE
ALBUQUERQUE, NM
Services
Homeowners Insurance

Brown & Brown Of New Mexico In
(505) 821-5888
6121 Indian School Rd Ne
ALBUQUERQUE, NM
Services
Homeowners Insurance

Allstate Insurance - Dean Chaney
(505) 836-2964
6001 Central Ave Nw
ALBUQUERQUE, NM
Services
Homeowners Insurance

Allstate Insurance - Anthony J Delgado
(505) 896-0790
1015 Golf Course Rd SE
RIO RANCHO, NM
Services
Homeowners Insurance

Allstate Insurance - Jalene Berger
(505) 891-1780
1117 Rio Rancho Dr Se #28
RIO RANCHO, NM
Services
Homeowners Insurance

Western Assurance
(575) 265-8481
2001 Carlisle Blvd NE
ALBUQUERQUE, NM
Services
Homeowners Insurance

Miller Insurance Center
(505) 889-9300
3600 Menaul Boulevard Northeast
ALBUQUERQUE, NM
Services
Homeowners Insurance

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