Bloomfield Hills Home Insurance: Understanding Swimming Pools
The school year is coming to an end and the kids are eager to jump into the local pool. As the temperature continues to rise in the next few weeks, swimming pool construction and renovation are already underway.
But as exciting as it is to have a pool in your own backyard, there are myriad risks involved. Mitigating risks is ideal. It’s long and possibly weary process, but it’s worth protecting your family and your investment.
Go beyond installing a fence and take a look at our tips on mitigating swimming pool risks.
Step 1: Regulations and Codes
What is a swimming pool? We might be compelled to describe a swimming pool as a huge whole in the ground filled with chlorine, but different states constitute a swimming pool with different definitions.
Do you know how Michigan defines a swimming pool? Before you start hiring contractors and pouring the cement, review Michigan regulations and codes. According to Bloomfield Hill’s permit requirements and codes, “Any owner or authorized agent who intends to construct, enlarge, alter, repair, move, demolish or change the occupancy of a building or structure…shall first make application to the building official and obtain the required permit.”
So, be prepared to submit an application if you plan to constructing or renovating an above ground pool or an in ground pool with 2 or more feet of water.
Step 2: Get insured
If you are planning to construct or renovate a swimming pool, it’s essential to review your current Bloomfield Hills home insurance policy.
Because swimming pools are considered separate from the dwelling, pool owners will need to purchase special coverage. This policy is applicable to any structures (sheds, gazebos, fences, etc) separate from the dwelling.
Typically, the cost of a standard pool insurance policy is 10% of the amount written for the dwelling. For example, your current homeowners insurance policy provides $200,000 worth of coverage. If your insurance agent applies the typical 10% formula, you will be provided $20,000 worth of coverage for your pool.
Special Coverage for pools may cover the following:
– damages from various perils
– protects assets in the event of litigation
Bloomfield Hill’s Capital Insurance Agent provides special insurance coverage for swimming pools at the most competitive price.
We work with some of the most respected carriers in the country, and once we have your information and the features you want, we can start crafting the right plan for you. Call us today 800-660-7734
Source: http://www.insurance.com/home-and-renters-insurance/coverage/new-pool–your-homeowners-policy.aspx