Those hot summers can be a lot more fun and relaxing if you install a backyard swimming pool but could it get you into a lot of trouble as well? The answer would be yes.
If someone gets hurt in your pool and you are not properly insured, then you are inviting law suits. You’re probably thinking that your friends and family are the only ones who use your pool and they are not going to sue you if anything happens.
Take another guess.
People don’t necessarily love to sue nor do they want to either. But they have to. With the high costs of medical expenses today, a family that suffers a serious injury probably can’t afford not to sue. Guess who is technically at fault if a person was injured at your pool in your backyard.
You can expect a lawsuit if someone gets hurt and don’t be surprised by it. And don’t think you can watch the pool every moment to make sure nothing happens. Accidents will occur no matter how relentless you are in trying to prevent them. Risks of accidents are statistically proven to be very high around backyard pools and hot tubs.
But pouring dirt into your pool, planting a nice safe flower bed, and posting “keep out of yard” signs all over your backyard is not what this means. All you need to do is make sure that you are adequately covered when it comes to insurance.
Okay, you’re sold. Now how do you make sure you’re covered?
You should carry very high liability insurance such as in the range of a million dollars or more if you own a swimming pool or hot tub.
This part can be tricky considering that a lot of homeowner’s insurance policies limit the maximum exposure of the insurer to $100,000. While getting it raised to $300,000 is possible, getting it covered beyond that from your homeowner’s plan alone will likely be difficult.
This is the reason why you want to look into an umbrella plan. A separate liability policy in addition to your homeowner’s coverage is what this refers to. It generally picks up where your homeowner’s insurance leaves off, and you can get coverage of several million dollars.
Usually minimal is the cost of this additional coverage in the neighborhood of $500 per year. Even though it may seem pricey, it is worth the money, especially if you entertain and have a hot tub or pool if you consider the millions of dollars coverage it affords you.
One last thing to note is that you may have to buy all your insurance from the same place, which would include home and auto. If you have a pool or spa, it’s probably worth changing insurers to find one who offers an umbrella plan.
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