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Home insurance for new home with a pool

If you are looking to buy a new home, consider running a few homeowners insurance quotes for the perspective house before you buy. If you are looking at a pool, consider the liabilities and weight them against how much fun you family will have in the backyard. Insurance is all about risk assessment, and a pool statistically is a big risk.

First, make sure the pool conforms to all local and regional laws including approval of any permits if necessary. If there is an accident and your pool does not meet code your insurance company will probably not pay. Whether or not your municipal government requires a fence, you should fence in the pool if it does not already have one. If it is an above ground pool, there should be a lock on the ladder.

Pools often attract uninvited guests. Small children are the most vulnerable. Great care must be given to block access to the pool for small children unless a responsible invited adult accompanies them. Adolescents and young adults often invite themselves into your pool despite the fence. In the case of an accident, a locked fence marked with "No trespassing" or "private" makes it harder to prove you were negligent. If someone were to get in your pool regardless of whether they were an invited guest or not you are still considered liable for the any accidents and personal damages. The fence helps to limit the amounts of the suit against you.

Liability suits for pool related accidents are the greatest reason pools can seem an expensive proposition. Because of the rate of pool accidents, and the number of lawsuits resulting, your liability must be sufficient to protect properly your financial welfare. If you have a pool, you should maximize the liability portion of your policy.

Often property owners with a pool buy and umbrella policy to give additional liability protection. Talk to the companies who you are using for homeowners insurance quotes, and ask for quotes on an umbrella policy. Umbrella policies protect your present assets and future earnings from loss in a liability suit. Brokers recommended purchasing at least a $1 million dollar policy, more if you earn more than $100k a year and have additional assets like rental property. A new home with a pool can be great fun for the family. Start your search today for the right policy to protect your family and property.

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