Does Homeowners Insurance Cover Swimming Pools?

Does Homeowners Insurance Cover Swimming Pools?

If you’re interested in getting a new swimming pool, or you’re buying a house that already has one, you’ll want to make sure to buy homeowners insurance that covers it. Generally speaking, your typical homeowners insurance policy isn’t going to provide enough protection if you have a swimming pool. To keep you covered, you’ll likely need: Increased Liability Protection – Swimming pools can be fun, but they bring with them a whole lot of extra dangers. Increased liability protection will be necessary to keep you covered in the event someone is injured. Increase in “Other Structures” Limit – Pools are considered “other structures” when it comes to home insurance, and the coverage limit for these “other structures” is usually 10% of the home’s total value. If this amount isn’t enough to cover your pool (and if you have other “other structures” on your property, it may very well not be) you’ll need to increase the coverage limit to cover damages to the pool. An Umbrella Insurance Policy – An umbrella policy provides additional liability insurance beyond that of your insurance policy’s stated limits. People who find themselves the target of major claims or lawsuits that their insurance won’t completely cover. Swimming pools can be a lot of fun, and owning one can enhance your living experience quite a bit. However, they can also be incredibly dangerous. When you own a swimming pool, you should take precautions to keep the area as safe as possible. Children should never swim when an adult isn’t present, and nobody should swim alone. Installing at least a four-foot fence around the pool with a...
Auto Insurance for the Disabled

Auto Insurance for the Disabled

Driving with a disability can alter your auto insurance needs. One thing it cannot alter, though, is the price of your auto insurance. According to the Americans with Disabilities Act, it’s illegal for an auto insurance company to charge someone with a disability more for auto insurance than someone else without a disability. The Americans with Disabilities Act goes even further by prohibiting auto insurance companies from charging a disabled person more for auto insurance even if their disability makes them a higher risk. As long as a disabled person is legally able to drive, even if they have restrictions on their license, it’s illegal to charge them more for their insurance. On the other side of that coin is that most insurance companies don’t provide discounts for disabled people, either. While a disabled person will not have to pay more for their auto insurance policy than someone who is not, they may need to buy extra insurance if their vehicle has been modified in some way to accommodate their disability. Vehicle lifts, wheelchair-accessible seating, hand controls, and other steering wheel attachments are quite common among disabled drivers. Depending on what type of car insurance one buys, the typical policy may not be enough to cover expensive customization options that drivers with disabilities often have. However, auto insurance companies make it relatively easy to add additional protection to one’s plans to accommodate them. To cover custom equipment, you must have comprehensive and collision coverage on your vehicle. Liability coverage will do nothing for damaged equipment in your vehicle. When custom equipment costs less than $1,000 or so, it’s up...
Handy Tips for Real Estate Agents Regarding Home Insurance

Handy Tips for Real Estate Agents Regarding Home Insurance

A real estate agent serves their clients in many capacities, one of which is being their go-to source for information concerning home ownership – including homeowners insurance. While your job doesn’t necessarily require you to be an expert on insurance, the ability to direct your clients to the information they’re looking for can be invaluable. Here are a few handy tips to help you out: Do a little research on your own and provide your clients with a general breakdown of the various types of homeowners insurance available and direct them to an agent who can answer any further questions in detail. Know which exclusions the home is likely to be subject to and let your clients know about them. Make sure your clients know if the home is in a high-risk area, what type of risk they face, and what type(s) of policies they’ll need to ask an insurance agent about to keep their home protected. Explain the difference between replacement cost, market value, and actual cash value to your clients. The state of the home and the market in which it’s located will have a big impact on which type of coverage is best for your clients. Knowing the differences between them will help put your clients in a more knowledgeable place when it comes to speaking with an insurance agent about a home insurance policy. Last but not least, work with a trusted local insurance agent directly. After giving your clients the information mentioned above, providing them with a number to call with any further questions or to purchase a home insurance policy is the final...