Choosing to add a pool to your backyard can amount to endless years of entertainment for you and your family. It can also work to add value to your home and create greater resale value should you choose to move. While a pool is largely a positive thing, it can add some complications when it comes to homeowners insurance.
While some aspects and types of pools are covered by your homeowners, certain situations or issues could leave you paying out of pocket. This includes one common issue many pool owners face each year: unexpected leaks.
Does homeowners insurance cover pool leaks? What about other types of damage? Let’s explore the relationship between pools and insurance a bit more below.
Coverage Types Vary By Pool Style
When choosing a type or style of the pool for your backyard oasis, you might not have considered how this could affect your homeowners insurance. Believe it or not, coverage varies greatly between pool types. The coverage that applies to a pool largely rests upon the type of pool you own.
Above-ground pools that are permanently installed and most in-ground style pools are covered by the ‘other structures’ coverage in your homeowners insurance policy. Portable-style pools or any pool that could be taken with you in a move can sometimes be covered by personal property coverage. Depending on the overall value of your pool and whether or not it has a deck, you may need to increase your coverage limits in order to avoid paying out of pocket.
What Kind of Damages to A Pool Are Covered?
A damaged pool is a useless pool, which means you probably want to get your pool fixed right away. Can homeowners insurance help if your pool is damaged? Generally speaking, homeowners insurance will typically pay to repair a pool if it was damaged by one of the defined risks outlined in your policy coverage agreement. Risks that are covered typically include fire or falling objects.
For example, if a tree falls on your pool, homeowners insurance will probably help to foot the repairs, up to the limit agreed upon in your policy. Know that your homeowners policy will not cover damage caused by frozen water or human error. Now, when it comes to frustrating pool issues, leaks are rather pervasive to pool owners everywhere. Can insurance help you to pay for a pool leak?
Does Homeowners Insurance Cover Pool Leaks?
You already know that homeowners insurance typically won’t cover pool issues caused by human error (ie: letting your pool freeze up), but what about a leak? Above-ground pools are known to leak sporadically, oftentimes through no fault of the owner. Just like in your house, leaks can happen suddenly and can be costly to repair. Unfortunately, if you’re looking for a little help with paying for a pool leak, you won’t be able to turn to your insurance company.
Unless a leak was caused by peril (ie: a fire or a damaging windstorm), your homeowners insurance will not cover the pool leak or accrued damages. This is because homeowners insurance does not pay for any damage that could result from lack of maintenance or wear and tear. Simply put, if your pool is older and springs a leak, it will be filed under the category of “wear and tear.” Unless you can cite a specific natural incident or peril that caused the leak, you’ll have to pay for repairs and cleanup out of pocket.
Can Owning A Pool Up Your Insurance Premiums?
Speaking of paying out of pocket, know that having a pool is seen as an increased risk to your property by insurance companies. In layman’s terms, the cost of your premiums will be higher to indicate the additional risks a pool can bring to the table. It is also key to keep in mind that your pool will need to meet certain safety requirements in order to be covered by your homeowners at all.
Most insurance companies have three key requirements:
- A pool should not include a diving board or slide
- Pools should be surrounded by a four-foot fence with a gate that locks
- The pool cannot be left empty, even in the winter months
If your pool holds up to these three requirements, it will likely be covered by your homeowners insurance. Just remember, that even in the event of a leak or even a ripped lining, coverage often relates to how the event occurred (ie. natural causes or human error).
