Few people would argue that swimming pools make summer an even more fun and anxiously awaited season here in New Hampshire. After months of freezing temperatures, many homeowners look forward to opening their pools for the season, but with the luxury of owning a pool also comes added risks and responsibilities. If you own a swimming pool, or even a hot tub, it’s crucial to ensure that you understand how it affects your homeowners insurance.
In the unfortunate event that an accident, or worse, a fatality, occurs as a result of activities in or around your swimming pool, you may end up facing a lawsuit and not having enough coverage to protect you. Although homeowners insurance varies from one policy to another, a standard homeowners policy will not provide adequate coverage in the event of a lawsuit of this nature. Here’s how to ensure that you have sufficient coverage for your swimming pool:
Review your homeowners insurance policy with your independent insurance agent. It’s crucial to ensure that you understand what types and amounts of coverage it provides and does not provide. Pay close attention to the amount of liability insurance it provides, as this is the type of coverage that would help you finance legal costs in the event of injuries to another person or damage to another party’s property.
- Based on your findings, consider increasing your liability coverage to the maximum amount available. Homeowners policies have different liability coverage limits, such as $100,000, $300,000, or $500,000, which may prove insufficient in protecting you in the event of a lawsuit.
- Consider investing in an umbrella insurance policy. Just as you place an umbrella over your head to shield you from the rain, an umbrella insurance policy is essentially placed over your homeowners insurance policy, providing an additional layer of liability insurance to better protect you against unexpected accidents. Although costs vary from one insurance company to another, you can typically secure an umbrella policy that provides at least $1 million in liability coverage for just a few hundred dollars per year.
Swimming pools certainly expose homeowners to additional risks, but they also provide families with summers full of fun times and special memories. Always putting safety first poolside and reviewing your insurance coverage to make sure it’s adequate will help you minimize your risks and enjoy your summer fun to its fullest.
At Hunkins & Eaton, our agents work to ensure that your family, home, and other meaningful assets remain protected. For additional information or to get a free homeowners insurance quote, please call us today at 603-444-3975 or visit us online at www.hunkins-eaton.com.
No comments:
Post a Comment