Will My Florida Home Insurance Increase If I Have A Pool?

Not everyone can enjoy a swimming pool right in their backyard. However, those who own a swimming pool fail to realize that their Florida home insurance may increase. Regarding your insurance, you must understand how owning a swimming pool can affect your rates.

A swimming pool is considered a dangerous and significant liability to insurance companies. However, you can investigate and find out a few things you can do to reduce your risk and your monthly premium. How much your Florida home insurance, according to https://floridainsurancequotes.net/florida-homeowners-insurance/, increases depends on a certain number of factors. For instance, these factors include where you live and the pool.

Your pool is a nuisance to your insurance company. This is because it holds a significant risk to your property. For instance, having a swimming pool leads to increased trespassers on your property who want to use the pool without your knowledge. Unfortunately, if something like this were to happen, you would be liable for this incident. Therefore, always disclose this to your insurance agent whenever you put it in a pool.

A Premium Increase On Your Florida Home Insurance

You will likely pay more on your premium once you install a pool. However, the increase will depend on your insurer and how you build your collection. For the most part, insurers recommend increasing your liability limits with a swimming pool. Policies that include standard liability usually have $100,000 of liability protection. Therefore, most insurers recommend increasing your limits to around $500,000. Luckily if you live in a warmer climate, like Florida, your premium increase could be minimal.

You should be concerned about the liability risk that your pool presents. You can opt to increase your coverage. In addition, your insurance company will likely require you to secure your pool with a fence with a latch so it’s not easily accessible to young children. You may also be asked to install a secure pool. Any other safety measures can also lead to a lower premium too.

Luckily, the best companies will cover your swimming pools and their liability. If you are considering installing a pool, contact an agent or purchase Florida home insurance here. Always understand that your premiums may increase slightly, but being a pool owner means an increased liability. You must be prepared.