Summer Safety Part One, Your backyard Oasis
By: Mary Thompson, Capstone Brokerage President, June 11, 2015
Summer season has arrived! Temperatures are heating up, vacations are being planned, pools are opening, and my personal favorite it is BBQ season. Summer brings on a whole new need for personal insurance. If you own a home with a pool, have a trampoline, or intend on having people over this summer to enjoy the Las Vegas weather, be sure to check you insurance policy for proper coverage.
A pool in your backyard is as big a necessity, for many, as it is a luxury here in Las Vegas when our temperatures rise well over 100 degrees, however, your insurance company does not see it that way.
A pool is a danger and a huge liability to homeowners. Many homeowners may need to have higher limits just for having a swimming pool. Expect to also pay higher premiums with a pool in your backyard. To the insurance company your beautiful summer backyard oasis is considered an “attractive nuisance”. Essentially your pool creates a risk that attracts children to trespass on your property and use the pool without your knowledge. It also leaves more risk for personal injury and liability on your property. A homeowner is legally held responsible for any incidents involving a pool. It is IMPERATIVE that you inform your insurance company when you put a pool in; otherwise the insurer can refuse to cover any claims.
Trampolines can be super fun for the minors in your household. Every insurance company handles trampolines different. It is important to discuss having a trampoline with your insurance agent for many reasons. There are basically three ways an insurance policy will cover or not cover a trampoline. The first is with a policy that has “no exclusions” meaning that there are not any restriction on trampoline ownership and usage. Secondly, “safety with precautions”, the insurance company may include the coverage of a trampoline only if you have pads to cover the springs and/or a net enclosure over the sides to prevent injury, etc. Lastly they may choose to have “trampoline exclusion”, meaning if your child or any person gets injured on the trampoline you are personally responsible and no insurance coverage will be provided. In the end a trampoline is considered a “high risk” item and needs to be addressed with your insurance agent to maintain proper coverage.
So the big question is how does having a pool and trampoline affect my premium? While every policy is unique, in most circumstances you will pay more in premium due to the increased risk. The amount is dependent on your insurer, your location and the safety measures in place to prevent injury. One of the best options for a swimming pool for example, is a gate that surrounds the pool with a self closing door. This safety measure alone will help deter a child from putting themselves in danger. Making this minor adjustment can cut costs of a premium increase.
Exploring your options with your homeowners insurance in Las Vegas is simple if you have a relationship with your insurance agent. It is always better to ask rather then to assume. Summer is a great time to enjoy family, friends and the warmer climate that brings everyone out to enjoy the fresh air. As a homeowner take safety precautions to keep your loved ones safe and your insurance provider in informed. Follow our blog to see part two of our summer series, “Summer Toys, Are Your Properly Covered?”
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