Backyard Pool…How much more will it add to your homeowners coverage?

There are a number of different things to consider when you think about swimming pool insurance and how much it will affect the premiums that you pay for the coverage of your home as a whole.

Essentially, it is a calculation based on the amount of added risk that the feature brings to your home.

Many homeowners discover that it is a good idea to increase the liability limits that they have on their homeowners policy, as well as the dollar amount of their coverage for physical damage to the pool in the case of an adverse event, so this may cause the premiums to rise a certain amount every month.

The amount of the increase will depend on certain factors about the structure and the risks around it.

For example, there will be a difference between the premiums charged for an above-ground pool and those that will be experienced by the owners of an in-ground pool. Moreover, features such as a slide or a diving board, as well as a hot tub may also alter the quotes that you receive from insurers.

There are also a number of other elements that can play a role. For example, whether or not the pool is heated, the age of the pool or its pump and/or its heater, whether or not the yard or pool itself is fenced in and, if so, what type of fence and how high it is.

The popularity of this feature in your area or state may also have an influence. For example, southern states with hotter climates, where they are seen much more frequently, will see much smaller increases in rates for swimming pool insurance than northern states where there aren’t as many pools.

The best way to make certain that you are getting the lowest possible rate for the amount of coverage you require is to obtain a quote from several different insurers. You may find that swimming pool insurance coverage varies widely from one company to the next, so simply doing some comparison shopping might help you to find a much more affordable deal than you would simply by choosing the first insurer you find.