Many people dream of adding a pool to their homes, giving themselves an easy way to cool off in the summer and hours of excitement with friends and family. However, a pool does increase the chances someone might get hurt on your property, which could affect your home insurance rates. Below are a few aspects you should know about your coverage before adding a swimming pool.

Why Do Swimming Pools Mean Higher Rates?

Along with protecting your house and valuable property, your home insurance policy also shields you from expensive liability suits. If a visitor is injured on your property, an insurer will cover the costs of their medical treatment, as well as their lost wages and non-economic damages.

Swimming pools increase the likelihood of a fall or drowning accident, for which an insurer may be held liable. To cover the additional risk, your carrier will probably charge higher monthly premiums.

Does the Type of Pool Matter?

Your home insurance policy also covers damage to the pool itself, but the level of protection may depend on the type you choose. A portable, above-ground pool is usually considered personal property. If it’s damaged in a fire, lightning strike, or another covered event, your insurance company will pay for repairs or a replacement.

On the other hand, in-ground pools may be treated as personal property, part of the dwelling, or a separate structure. Coverage limits for these types of policies are based on the value of your home. For instance, additional structure coverage is usually limited to 10% of the value of your home. If your home is valued at $200,000, your pool would only be subject to a $20,000 policy limit unless you purchase an additional rider.

Are there Ways to Reduce Your Home Insurance Premiums?

Any steps you take to protect others and reduce your risk can lower your insurance costs. Building a fence around the pool can keep children from wandering onto your property and getting hurt. You should also consider installing lights around the pool, which prevent dangerous falls in the dark.

When you’re not swimming, using a solid or mesh cover can minimize the risk of someone falling in. Finally, install handrails on the stairs into the water and a non-slip surface all the way around the pool.

With an extensive list of partners and a staff of experienced agents, America’s Favorite Insurance & Tax is dedicated to helping homeowners throughout Florida and Texas protect what matters most. They take the time to compare options from some of the best carriers in the industry, so you get the coverage you need at the best possible price. Visit their website for more on their list of services or call (954) 951-1960 to reach their office in Pompano Beach. To request a home insurance quote from an agent in Desoto, TX, call (972) 662-8221.