Does Homeowners Insurance Cover Damages to An Inground Pool?

Owning a home with an inground pool has several important benefits for your health and your family. But it's crucial to keep in mind that as an extension of your home, you need to make sure your pool is fully insured.

A homeowner's insurance policy will generally cover damages to an inground pool - IF the right policy is in place. Whether you're planning to install a new inground pool or purchase a home with an existing one, here are some important things to discuss with your insurance agent

• Scheduled structures
• Covered perils versus umbrella
• Increasing your liability coverage
• How to maximize your pool's safety
• The benefits of an inground versus above ground pool

Swimming is fabulous exercise, and nothing beats relaxing in your backyard oasis with friends and family. Read on for more info on how to ensure you're fully covered, no matter what happens.

Other Structural Coverage

Your homeowners insurance policy can cover many different aspects of your property and a wide range of situations. But it's wise to consult with an agent to find the exact coverage that best suits your needs.

Most major homeowner's insurance policies consider inground pools as "scheduled structures" or an "other structure," similar to a detached garage, shed, or workshop. These structures are typically insured for up to 10% of your total insurance coverage.

According to the knowledgeable insurance industry pros at Young Alfred, if your policy offers $300K of coverage, your pool will only be counted towards $30K.  Keep in mind that the cost of installing a new pool can be twice as much, if not more.

Because it's considered a separate structure, it makes sense to invest in some additional coverage, just in case. Thankfully, increasing your coverage amount typically only adds a minimal amount to your yearly premium - Insurance.com states the annual cost is only about "$5 per $1,000 of coverage."

Sometimes referred to as a "floater," it's an affordable insurance policy add-on that will give you comprehensive coverage for your in-ground pool. Your floater should include:

• Personal liability
• Property damage
• Medical expense coverage

But what external events are included in your policy?

The Perils of the Umbrella

Every basic homeowners insurance policy should cover what's called the "16 Named Perils." This rather medieval-sounding list is simply the most common types of damage-causing events you're likely to see in a residential neighborhood. 

Some of these covered perils include:

• Theft
• Falling trees
• Damage caused by winter-type conditions (i.e. frozen pipes)
• Household fires/"explosions" and "volcanos"

While your inground swimming pool is not very likely to end up full of lava due to volcano proximity, it's nice to know it's included. Anything can happen these days.

However, this list doesn't quite cover everything, so always check with your insurance agent about the cost of umbrella coverage and conduct your own independent research as well. These kinds of policies add an additional layer of protection should the unthinkable happen and someone is injured in your pool, or it's irreparably damaged by a storm.

Building a Solid Liability Shield

The Insurance Information Institute recommends that you have at least $300-$500K worth of coverage, based on the value of your home. Industry insiders refer to swimming pools as an "attractive nuisance," meaning that they're a magnet for neighborhood kids who might not have the deepest respect for your private property. In most communities, if someone is injured in your pool, it doesn't matter if you invited them or not.

That's why discussing your coverage and adding an umbrella policy or a liability-heavy floater is so important to your peace of mind. This additional coverage can also help you recoup costs for certain pieces of furniture impacted by violent weather in your area. Luckily, inground pools are much less likely to suffer disturbances from weird weather events than above-ground pools. 

Create a Safe Zone

A major way to limit both damage and liability is to make sure the area around your inground pool is as safe as possible.

There are several steps you can take to create a backyard oasis that is both beautiful and safe. The Washington Post offers up these key tips:

• Build a fence surrounding your pool - There will be no way for uninvited guests to take a midnight swim.
• Don't dive - Diving boards might sound fun, but can cause serious injuries.
• Install an alarm - Today's security systems are highly advanced and surprisingly affordable. Plus, isn't it always better to air on the side of caution?
• Inspect regularly - Drain covers, surrounding surfaces, and pool chemicals can all present additional hazards.
• Establish rules and enforce them - Respecting basic safety guidelines is easy.
• Invest in safety equipment -Floating devices can be literal lifesavers.
• CPR and swim lessons - These techniques ensure the wellbeing of your entire family.

What kind of rules should you have around your pool? Everyone likes to have fun, but following a few common-sense protocols will only increase your enjoyment and reduce risk. Here are some suggestions for smart pool practices:

• Use only plastic or metal containers around the pool area.
• Keep all floats, toys, and loungers in the proper place(s).
• Kids should be supervised by a responsible adult at all times!
• Those who can't swim should always be accompanied by an adult who knows basic water rescue skills.
• Your pool should be inaccessible to outsiders when you're not home.
• Have safety equipment close at hand.
• Don't bring cell phones in the water. Yes, this statement does need to be repeated, unfortunately.

For more ideas, visit Pool Safely, a highly informational site managed by the US Consumer Product Safety Commission. 

Above or Below?

If you're still debating whether an inground or an above-ground pool is right for you and your family, then here's a quick overview.

While above-ground pools are more affordable and rather versatile, they are nowhere near as impervious to damage as one installed in the ground. Your homeowner's insurance policy will cover a range of drastic situations, but in nearly every instance an above-ground pool is going to take a lot more damage from a fire or weather event.

Inground pools also last longer and provide substantial opportunities for exercise, relaxation, and family bonding. Swimming is known to relieve arthritis, depression, and anxiety says the National Institute of Health. 

Final Thoughts

A standard homeowners insurance policy should cover most routine damage to an inground pool. However, it's never a bad idea to conduct as much research as possible and if necessary, meet up with your insurance agent.

Extra liability insurance or a comprehensive umbrella policy can help you be prepared for anything that might happen, from volcanos to yet another storm of the century. You can also limit your liability with some common-sense precautionary measures like a security fence, regular inspections, and smart safety rules around your inground pool. 

Sources:

• https://www.iii.org/article/pool-safety-and-insurance
• https://www.insurance.com/home-and-renters-insurance/coverage/new-pool--your-homeowners-policy.aspx
• https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7558513/
• https://www.poolsafely.gov/parents/safety-tips/
• https://www.washingtonpost.com/lifestyle/home/10-tips-to-keep-your-swimming-pool-safe-this-summer/2018/07/09/f15c485c-7f03-11e8-b660-4d0f9f0351f1_story.html
• https://www.youngalfred.com/homeowners-insurance/pool-insurance