Homeowners Insurance Premiums May Rise With Pools

If you are a homeowner and own a pool, then you probably know that having homeowners insurance is a good idea for liability reasons. According to the Insurance Information Institute, swimming pools are “attractive nuisances,” and should be watched over on a constant basis. They are good to have during hot summer months, even if your homeowners insurance policy rises because of it. But without the proper security and maintenance, someone could wind up in the water. And if it’s a guest, you could face a lawsuit, if they are injured.

Tip: Look for homeowners insurance quotes that will provide you with adequate liability protection.

Homeowners insurance companies have noted the potential risks in a homeowner having a swimming pool on their property, but overall, many people, including realtors, have agreed in the past that a swimming pool raises the value of a home significantly. Unfortunately, thanks to the recession, buyers are starting to reevaluate that belief. The San Francisco Chronicle reports that homes that have swimming pools are being avoided by an increasing amount of potential buyers. More people are now aware of their safety hazards and tedious, budget-hampering upkeep. You can bet that homeowners insurance companies are keeping an eye on this new development, and your homeowners insurance premium may rise as a result.

However, your homeowners insurance policy may not change, either. Basically, for a swimming pool, the price of your policy is determined by several different factors. To get the lowest price on homeowners insurance, simply use our online quote form and compare up to five quotes in a matter of minutes.

Location

The location of your home in the United States plays a big factor in whether you may see a rise in your homeowners insurance rate. For example, your homeowners insurance premium will stay low, if you live in a region, such as the Southwest, where the temperatures stay warm for a long period of time. However, your homeowners insurance premium will be high, if you live anywhere in the Northern U.S, since temperatures are not warm enough to justify having a swimming pool on your property.

The physical geography

The terrain where your home and swimming pool are located is very important to homeowners insurance companies. You can expect a higher homeowners insurance premium, if your swimming pool is built near a fault line. Even mountains, forested areas, and desert terrain play their part in determining homeowners insurance premiums, and it will also cost more for you to install your pool, since you will need more or less material to keep it structurally sound.

Front yard or backyard?

Where you place your pool is up to you, but keep in mind that homeowners insurance companies prefer that swimming pools should be constructed in the backyard. Pools hidden out of view from passerbys will reduce the chance of any unwanted guests diving into it and heighten liability concerns. If your pool is in the front yard, it's an almost guarantee that your homeowners insurance premium will be high.

How To Keep Your Homeowners Insurance Down

Homeowners insurance rates are rising right now. According to USAToday.com, the average homeowners insurance policy will rise 3 percent this year. And with more awareness about the safety hazards and cost to own a swimming pool, the consequences could contribute to a rise in homeowners insurance quotes for you, if it’s not doing so now. Nevertheless, this should not stop you from dismantling your hot tub or ban anyone from swimming in your pool ever again. You can still find affordable insurance quotes in your area by browsing the internet and compare several insurers at the same time.

Also, you can lower your quote even further by taking these precautions with your pool:

• Contact your town hall and ask about building and safety codes for your pool
• Install a fence and lock it to prevent intruders, kids, and pets from diving in
• Alert your homeowners insurance agent that you have a pool, if you have not done so
• If you have a homeowners insurance policy now, cancel it and look for cheaper homeowners insurance quotes
• Ask your homeowners insurance agent for suggestions to make your pool accident free
• Never leave your pool unattended or let anyone, including yourself, swim alone.
• Use our homeowners insurance comparison service to compare up to 5 quotes at a time