Spring exists in full swing and the month of May landed on us with a preview of summer heat and humidity to come.
For those new to the area, summers in Texas prove worse than a mugging followed by a kick to the back of a pair of sweat-stained pants.
The only recourse we have as Texans exists in the form of indoor air conditioning and swimming pools.
Swimming pools provide a great way to feel human while braving the Texas sun, they can also prove a liability.
If you don't plan to stay indoors all summer, then you probably have either installed or bought a home with a pool. If your new home or pool addition means you will now grill out more often by the pool with friends and/or family, know having a backyard hole of water requires not just maintenance but also proper insurance coverage for when Uncle Joe starts doing cannonballs after a few cold ones.
Seriously, if you own a pool, make certain to acquire the right insurance coverage to keep someone from turning up the heat even more with a lawsuit.
Here are three key questions to ask your insurance agent about swimming pool insurance:
What kind of coverage do I need for my swimming pool?
Two main types of swimming pool insurance coverage exist - liability and property.
Liability insurance protects you from lawsuits if someone is injured in your pool.
This type of coverage is vital because swimming pools pose a drowning risk, and even if your pool doesn't have a diving board or slide, people can still get hurt. Remember Uncle Joe?
Property insurance covers the physical structure of your swimming pool, as well as any equipment you have, such as pumps, heaters, and filters.
If your pool suffers damage for any reason, say from a windstorm that knocks a tree into your pool equipment, then proper coverage should take into consideration the cost to replace.
How much coverage do I need?
The amount of coverage you need depends on a few factors, including the size and type of your pool.
If you have a large swimming pool, you will need more coverage than someone with a small pool.
The value of your home also plays a role in how much coverage you need.
The higher the value of your home, the more coverage you will need. Think of the dwelling amount on your policy.
Should a catastrophic event happen and damage your pool, the cost to replace it will need to reflect in your policy coverage, allowing enough recourse to build/repair the pool in addition to other repairs on your home.
How much does it cost?
More. It just does. Your liability increases and so, therefore, expect your premium to increase.
The amount your premium will increase depends on the size, the value of your home, and the type of pool you have.
If you have a small above-ground pool, your premium may only increase by a few dollars each month.
If you have a large in-ground pool with a diving board and slide, your premium could increase by a few hundred dollars each year.
In short, swimming pools are great fun but a little more expensive.
If you now own a swimming pool, make sure to ask your insurance agent about the right coverage for you. With the right homeowners insurance covering your swimming pool, you can relax and enjoy your pool all summer long.
Don't forget to invite your independent insurance agent. We like tri-tip by the way.
Stay true (and stay cool), Texas.
Ron Wadley is an owner and General Solver of Problems for Insurance For Texans. Ron is a resident of North-East Tarrant County in the Dallas-Ft Worth area. He loves riding his many bikes and watching his Baylor Bears play football and basketball. Send him your insurance questions at ron@insurancefortexans.com.