Swimming Pools & Trampolines – Are They Really Worth the Risk?
The Cost of Trampolines and Swimming Pools
Having a swimming pool or trampoline in your back yard can be great fun, but it could be costing you more than you think. Although these recreational accessories provide fun activities for family and friends, they also create a lot of risk for insurance companies, which leads to paying higher rates.
Insurance companies look at it like this: pools and trampolines are fun toys that can attract young children throughout the neighborhood to come onto your property to play. If a child is injured on your trampoline or much worse, drowns in your pool, you can be sure to find yourself involved in a costly lawsuit with the victim’s family.
Because of this risk of injury that surrounds swimming pools and trampolines, insurance companies either charge people much more for having them, or decide not to insure them at all.
If you currently own a pool or a trampoline or are planning on purchasing one, find out how it will affect your home insurance rate now.
More Advice for Pool Owners:
- Be sure to check the local laws in your area to see if there are any regulations for swimming pool safety.
- You might be required by law to install a fence around your pool and keep it locked when its not in use.
- Even if its not required by law, insurance companies can require you to keep your pool locked when your not using it to prevent children from accessing it.
More Advice for Trampoline Owners:
- Like swimming pools, trampolines create a lot more risk for insurance companies.
- Many companies will deny you coverage if you own a trampoline.
- Even if you do install a fence around your property, if a child climbs over it and is injured while playing on your trampoline, you could be held legally responsible.
