What You Need to Know Before Installing a Pool

Summer is here with rising temperatures, and for many homeowners, that means it’s pool time.

Perhaps you’ve decided to make the financial commitment to buy a pool. While a swimming pool can provide lots of fun for your family and guests, and can increase the value of your home, it can also bring on higher homeowner’s insurance rates.

Before you dive in and add a pool to your property or buy a home that already has one, here are three important things to keep in mind:

1. You may need to increase your insurance coverage.

A pool increases your exposure to risk. You could be on the line for medical bills and other damages if people get hurt in or around your pool, even if they weren’t invited over for a swim.

At the same time, a pool increases the value of your property.

Your homeowner’s insurance needs to reflect both the increased value and risk of a pool, and you may want the added protection of an umbrella policy.

2. Safety measures may be required.

Your town or municipality may require a fence and locked gate for your pool, and even have specific guidelines on the height of that fence. Meemic also has requirements regarding fencing and diving boards.

If your house opens directly onto the pool area, you may also consider a door alarm and safety cover to keep pets, children and other non-swimmers safe.

3. Pool equipment, furniture and accessories increase the value of your belongings.

Make sure to include any pool- or patio-related items of value, especially bigger-ticket items such as electronics and outdoor kitchen equipment, when you add up how much your personal belongings are worth, and ensure you have enough coverage on your homeowner’s insurance policy.