Pool Insurance—An Afterthought?

This summer many homeowners will be considering the addition of a pool to their property.  An article written by the Insurance Information Institute suggests it is a good idea to review the insurance and safety implications any type of pool from an in-ground to an inflatable kiddie pool. 

Did you know there are over 3,400 fatal unintentional drowings in the United States each year. One out of every five fatalities is a child under the age of 14. In addition to this frightening statistic, for every child that dies there are four more who are treated for "nonfatal submersion injuries" which can cause brain damage.

There are many ways to mitigate the inherent risks associated with owning a pool. First and foremost you want to make sure you are properly insured, and that your pool complies with local safety regulations and building codes. Visit the Town of Pawling Building Department for more information on local code.

Pool owners generally are at a greater risk of facing a lawsuit or other liability claim.  Because of this it is a good idea to carry higher liability limits on your homeowners insurance.  Most people carry at least $300,000 in liability protection on their home. Pool owners should consider raising this limit to $500,000 or more. 

Consider purchasing an umbrella policy.  Many individuals will elect to purchase an umbrella policy that provides liability coverage above and beyond the limit of the homeowners policy. Most people can get $1 million in coverage from an umbrella policy for about $300 a year.