How Will a New Pool Impact Your Homeowner’s Insurance?
Feb 11, 2016
If you are considering installing a new pool, there’s a lot to consider. From possible land use restrictions to how to design a pool that will be safe for pets and kids, homeowners have many factors to keep in mind when deciding whether or not to take the plunge into pool ownership. One aspect that some homeowners neglect to think about is how a new pool will impact their homeowner’s insurance. Read on to learn all you need to know about pools and homeowner’s insurance in today’s blog.
Pool ownership and homeowner’s insurance basics
Property owners are required to have homeowner’s insurance policies to protect them in the case of damage to their property and also to protect them from liability if an accident ever happens on their property. Your homeowner’s insurance covers the structures on your property and when you invest in a new pool, this will count as a structure. Most policies cover structures up to 10% of the policy’s value, which means if you have a $100,000 insurance policy, your structures will be covered up to $10,000. If your new pool will be the only structure on your property then this will probably be enough. However, if you have a garage, gazebo, or other structure, you may need to purchase a rider that offers additional coverage specifically for your pool. Liability is another benefit offered by your homeowner’s insurance and this is what protects you if you ever get into a legal battle after someone is hurt on your property. If someone gets injured in your pool then they may sue you for damages. Your liability coverage will depend on your specific insurance policy, but most will cover between $100,000-$300,000. You may wish to purchase additional liability coverage if you are concerned about being the victim of potential litigation: Additional coverage is generally obtainable at a very reasonable cost.
Rhine Pools: Landscape Architecture for New Pools in Maryland
A new pool in Maryland that makes use of landscape architecture brings a lot more value not just to your pool, but to your outdoor living and your home as a whole. Are you interested in learning more? Contact us today to talk with us about what you want to do with your pool remodel. Give us a call at 410.442.2445. Don’t forget to keep with us on Facebook, Google+, and Twitter too!