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Pool Ownership and Homeowners Insurance Rates

Most people assume that owning a home with a pool on the property can put your homeowners insurance rates through the roof. The truth is, there are a few tricks you can use to help mitigate the costs of inflated premiums, without having to give up your dream of having your very own pool in the back yard.

Regional Differences

Just having a pool is not the deciding factor for your insurance premiums. In fact, having a pool may not increase your insurance rates nearly as much as you might think, depending on where you live. For example, if you're in a region where the winters are moderate enough to allow the use of an outdoor pool year-round, insurance premiums usually stay pretty low. In parts of the country where winters are colder and pools are less common, pools aren't considered justifiable and insurance rates go up accordingly.

Pool Logistics

Another determining factor in your homeowners insurance rates for pool owners is where the pool is physically located on the property. Pools (and homes) built near a fault line will definitely have higher premiums. If your pool is installed in uneven terrain that could affect its structural integrity, insurance companies will consider that a riskier circumstance than a more standard placement, and rates will go up accordingly. Insurance companies also look at whether the pool is in the front or back yard, whether it's visible or accessible from the street or sidewalk, and whether it's fenced in and securely locked or not.

Cutting Insurance Rates

Though it may sometimes feel like insurance companies are going to increase your premium because of the swimming pool no matter what, there are a few things you can do to keep your costs at a reasonable level. Check for the building codes in your area to make sure your pool meets any necessary safety regulations, then speak with your insurance agent about the steps you can take to make your swimming pool less of a liability. Practice safe swimming habits: don't ever swim alone, or let your kids swim alone. And finally, don't give up your dream house because you're worried the pool will cost you too much in homeowners insurance premiums; there are always way to lower those costs and keep swimming safely.

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