Having 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. If you have concerns about whether you have 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. What that typically means is that both above-ground and built-in pools should have adequate property insurance coverage for financial security.
What are the types of coverage available for pools?
1. Indoor pool insurance
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 insurance coverage
An in-ground pool that is not attached to your house is covered under the ‘other structures’ category. Other structures are covered at 10% of the personal property in most insurance companies. 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 as the house.
3. Above-ground pool insurance coverage
This falls under personal property. In most insurance providers, the above-ground outdoor pool policy 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 cater for 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.
What factors influence setting my premium?
There are a variety of factors that contribute to how any 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 not only prevent accidents from occurring, but also reduce your insurance premiums.
- Style and size of your pool: Both can affect the pricing of your pool insurance. A modern infinity pool that stretches close to your swim-up bar will have higher premiums compared to those who have a smaller pool.
- Constructed under the recommended pool safety measures: During the construction phase, ensure that your contractor adheres to the set pool safety guidelines.
To learn more about practical safety tips for your pool, please click here.
- Luxury pools: Luxury pools are constructed with expensive materials and finishes. Therefore, the cost of replacing or repairing them is higher 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 are constructing a swimming pool using depths over the recommended depths for your area, you might remit higher premiums given the risks involved.
- Location, location, location: As with any type of dwelling insurance, location is a key determining factor. If the swimming pool is located in communities with proximity to oceans and lakes, they may be charged fewer premiums than those away from bodies of water as the risks of drowning are less.
What to do if someone gets injured using the pool
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 is an extra layer of protection that can protect you if damages exceed your policy limit—in the case of a lawsuit, for example.
Injuries sustained by a guest using your pool typically fall under your home’s medical payments or personal liability coverage.
Can I get pool insurance if I rent my home as an Airbnb?
Pools can make insurance for Airbnb a bit more complicated. If you rent your home out as an Airbnb, there are home insurance policies that include pool insurance 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 that are the result of wear-and-tear will not be covered by your insurance policy. However, there are certain situations where a pool leak may be covered by your home insurance. 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 type of coverage that is 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 provide coverage for damage from the pool freezing or from ice damage. Speak with your isure broker to clarify the terms of your policy.
It’s important to tell your insurance advisor when you make any upgrades to your home, including newly-built structures on the property and definitely 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?
No. However, make sure that 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 own insurance policies for this exact situation. Don’t be afraid to ask for proof of insurance!
Does insurance cover an above-ground pool collapse?
It might. 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 will be that the water can seep into the foundations of your home much faster, without you noticing soon enough.
Have any questions? Feel free to contact one of our experienced isure brokers to discuss your home insurance policy further.
