You know the saying. It’s all fun and games until somebody gets hurt. Few situations are more relevant to this saying than pool, trampoline, or playground antics and now that you are a homeowner, it’s important to be aware as to how these additions impact your insurance. Lucky for you, our team at Adkins is here to answer any questions you have.
Am I Covered?
Depending on your specific insurance policy, your new pool, trampoline, or playground are likely considered separate structures since they aren’t technically attached to your home. That being said, a small amount of homeowners policies do include a certain percentage of coverage, but you’ll likely still need more.
How Much Coverage Do I Have?
While this largely depends on your specific circumstance, coverage on your pool, trampoline, or playground will fall into one of three categories. Your insurer may have no exclusions, meaning they don’t mind at all. On the other hand, they may completely exclude coverage, so you’ll be responsible for any injuries. Lastly, they may provide coverage so long as you take safety precautions, for example, your Trampoline or Pool is in a locked fenced yard. It’s important to review your coverage and exposure with your agent, to make sure you have the right coverage and that this additional Liability Exposure will not have a negative impact on your policy or premium.
Could My Insurance Company Cancel My Policy If They Find Out?
As summer approaches, it may be tempting to add a pool to cool you down or playground to create some outdoor memories, but you may want to reconsider. Your policy may consider your new pool, trampoline, or playground an attractive nuisance, meaning it’s appealing, but a dangerous addition to your property.
This distinction may lead your policyholder to consider your new addition depending on how insurance may apply, certain attractive nuisances fall into what’s considered “Absolute Liability” laws which means you have no defense against liability that could raise its ugly head. If this is the case, it’s vital that you either remove it, insure it, including providing safety features, such as a fence to keep young children away from it. Many insurance companies will not insure these risks if present and some require safety precautions be present to avoid potential injuries. It’s important to talk to your agent about what could be the potential impact of these fun outdoor activities could bring and what impact it could have on cost or coverage under your policy.
Everyone wants to have some summer fun! It’s completely understandable to want to add fun additions like a pool, trampoline, or playground. But before you do, talk to your agent and review your insurance policy or give Adkins Insurance a call at 417-883 4343 to answer any questions you may have.