Does a trampoline or pool raise my insurance rates?
If you own a home with a pool or a trampoline, you will probably pay more money for your insurance policy. Depending on your coverage and the type of policy you purchase, these items can affect your rate. Although, you may find out that your insurance policy has a trampoline exclusion and will not pay for any injuries resulting from a trampoline. You need to make sure you discuss this with your insurance agent when shopping around for a policy.
Why would a trampoline or pool affect your rate? Basically the insurance providers do not want to cover potentially dangerous items around your home. Since trampoline injuries are one of the number one reasons for emergency room visits in the US, we can see why some companies would shy away from this type of coverage. One way to save money could be to make sure you have a net around the trampoline and even a fence to keep out uninvited neighborhood children.
There are also many factors involved if you own a pool. Whether you have an in-ground pool, an above ground pool or even a hot tub could affect your rate. Other aspects that are taken into consideration are how popular pools are in your area. You can save money by installing a fence around the pool and even using a security system that will alert you if someone or something falls into the water. Make sure you shop around to find the best deals on insurance coverage. Different companies will give you different rates and you need to find one that fits into your budget.
Most people will tell you that if you cannot afford your insurance premium because you have a pool or trampoline, you may want to consider removing the items from your property. If someone is injured while using these items, it could be financially devastating. Make sure you understand your insurance policy and all of the items that are covered.