A backyard pool can be a great way to cool off and entertain during the summer. However, having large volumes of water on your property comes with great responsibility. Even more so, if you have concerns about having enough pool insurance coverage, we’ve compiled some of the most common questions pool owners ask to help you ensure you have the right coverage.
What types of swimming pools require insurance?
In general, all swimming pools need to be insured to help cover the costs of pool-related injuries or damage caused by named perils that occur to the pool. That typically means that both above-ground and built-in pools should have adequate property insurance coverage for financial security. Having the correct insurance on any pool is essential, since, let’s face it, accidents can happen. This is especially the case if you commonly invite people over!
What are the types of coverage available for pools?
1. Indoor pool insurance
Unlike an above-ground pool, an indoor pool is considered a part of your home. Your insurance provider may allow it to be listed on the standard homeowners’ insurance coverage. If you make a claim, it will be treated like any other part of your house, requiring you to remit the agreed deductible amount.
2. In-ground pool coverage
An in-ground pool that is not attached to your house is covered under the ‘other structures’ category. Most insurance companies cover Other structures at 10% of the personal property. These also include fences, sheds, and fountains. However, an outdoor pool attached to the house is categorized under the dwelling policy and is covered similarly to the house.
3. Above-ground pool insurance coverage
This falls under personal property. The above-ground outdoor pool policy in most insurance providers has 50-75% dwelling coverage limits. Once you make a claim, the deductible amount will be deducted from the claim payment.
4. Umbrella pool insurance
Umbrella pool insurance will cover claims made once the homeowners’ liability limit is reached. If you have a pool with a high liability risk profile, having umbrella pool insurance offers more protection against perils. This, however, does not provide coverage for accidents resulting from poor maintenance or negligence.
There are a variety of factors that contribute to how insurance premiums are calculated. However, if you are looking at pool insurance coverage, the factors that contribute to the premium are:
- Safety measures around the pool: Though costly, installing safety measures around your swimming pool will prevent accidents and reduce your insurance premiums.
- Style and size of your pool: Both can affect the pricing of your insurance coverage. A modern infinity pool that stretches close to your swim-up bar will have higher premiums than those with a smaller pool.
- Constructed under the recommended pool safety measures: Ensure that your contractor adheres to the set pool safety guidelines during construction.
- Luxury pools: Luxury pools are constructed with expensive materials and finishes. Therefore, replacing or repairing them costs more than ordinary swimming pools. Be ready to pay higher premiums for your high-end upgrades.
- Risky features: Dramatic drop-offs, steep steps, and waterfalls can result in potential slip-and-fall accidents. Also, if you construct a swimming pool using depths over the recommended depths for your area, you might incur higher premiums given the risks involved.
- Location, location: As with any dwelling insurance, location is a key determining factor. If the swimming pool is located in communities near oceans and lakes, they may be charged fewer premiums than those away from bodies of water, as the risk of drowning is lower.
What to do if someone gets injured using the pool
Injuries sustained by a guest using your pool will typically fall under your home’s medical payments. Alternatively, they may fall under your personal liability coverage. If you have adequate liability coverage as part of your home insurance policy, any damage or injuries in or around your pool should be covered. To account for the increased risk that comes with getting a pool, some pool owners opt for umbrella liability insurance. This extra layer of protection can protect you if damages exceed your policy limit—in the case of a lawsuit, for example.
Can I get pool insurance if I rent my home as an Airbnb?
Pools can make Airbnb insurance a bit more complicated. If you rent your home as an Airbnb, home insurance policies include coverage for pools for short-term rentals. However, this won’t be automatically included, and you will need to speak to your isure broker about this additional coverage.
Does homeowners’ insurance cover pool leaks in Ontario?
Generally, pool leaks resulting from wear and tear will not be covered by your insurance policy. However, there are certain situations where your home insurance may cover a pool leak. If your pool has been damaged from extreme weather or if a tree has fallen into your pool during the most recent storm, your insurance company may cover you for this mishap. Be sure to educate yourself about the coverage offered in your policy regarding pool leaks.
Does homeowners’ insurance cover damage to a pool liner in Ontario?
Leaks in a pool liner typically fall under the ‘regular maintenance category.’ However, as with pool leaks, the coverage of your pool will depend on the event in which the damage has been done. If your pool liner is damaged from an event that is covered under your policy as a peril, such as a storm or fire, then the costs to repair the damage may be covered.
Does homeowners’ insurance cover pool damage from freezing?
Unfortunately, most homeowners’ insurance policies do not cover damage from the pool freezing or ice damage. Speak with your isure broker to clarify the terms of your policy.
Though not all pool damage is covered by insurance, it is still important to let your insurance provider know if any damage was done to the property. On top of this, it’s important to tell your insurance advisor when you make any upgrades to your home. This includes newly built structures on the property, especially when adding a swimming pool. Failing to be completely accurate when setting up your insurance policy is a serious issue. Misleading information can have an impact on your coverage as a result.
Where can I purchase a swimming pool policy?
Many homeowners’ insurance companies cover swimming pools under the appropriate policy coverage type—dwelling, other structures, or personal property. For example, if your above-ground pool costs $15,000 to install and is considered an “other structure,” you may need to increase your current other structures coverage limit by $15,000.
Do I need swimming pool contractor insurance?
Generally, you do not need swimming pool contractor insurance. However, please ensure you get a written copy of pool service insurance from every contractor that touches your pool. You don’t need swimming pool contractor insurance for yourself, but someone needs to cover the work done on your pool. Most pool service companies will have their insurance policies for this exact situation. Don’t be afraid to ask for proof of insurance!
Does insurance cover an above-ground pool collapse?
Every policy is different, so the best answer is to search your existing home policy for any specific exclusions concerning pools, above-ground pools, or structural collapses on your property. Above-ground pools contain a lot of water, so you’ll also need to consider the ramifications of potential water damage to your home if that structure collapses. What type of water damage coverage does your policy have? What kind of damage can that much water cause if it seeps into your basement or foundations? An all-risks insurance policy might be worth looking into if you’re concerned about this happening.
Does insurance cover an in-ground pool collapse?
This is similar to questions for a claim about an above-ground pool collapse. The difference is that water can seep into the foundations of your home much faster without you noticing soon enough.
Have any questions? Please read our blog on tips to open and close your pool this season. As always, if you have any further questions about pools and your home insurance, don’t hesitate to contact us at isure or request a quote today!
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