Three Fun Items That Can Increase Your Homeowners Insurance Costs

Posted on: 6 April 2017

When you own a home, you have to be responsible with the things that you have on your property. There are many parents who want their kids to be able to have a lot of fun outside doing active things, but there are certain things that you can have on your property that could pose as a possible safety risk and could cause your homeowner's insurance costs to skyrocket. The following guide walks you through a few fun things you may want to reconsider adding to your property because of the fact that they could cause your insurance costs to increase. 

An Above-Ground or In-Ground Pool

Having a pool in your yard can be great during the hot summer months, but it can pose as a danger to people who cannot swim. If you want to have a pool on your property, you need to have a fence installed around it with a locked gate. This will at least keep animals and small children from being able to get into the pool and potentially drowning.

A Trampoline

A trampoline is a very risky item to have on your property because someone could jump and fall off of the trampoline or injure themselves while jumping. If you feel that you want your kids to have a trampoline, install a net on it to keep the kids from being able to fall off of it while they jump. Also, restrict children to jumping on the trampoline one at a time to cut down on the chances of someone getting hurt while they jump. Also, you may want to restrict friends and neighbors from jumping on the trampoline to ensure that they are not injured and potentially have to have their medical bills paid by your homeowner's insurance.

A Racing Track

There are many homeowners who have a few acres of land and choose to make a racing track of their kids to ride go-karts, dirt bikes, or even four wheelers on. This can be fun and exciting for kids, but it can be very dangerous, as well. You want to be sure that your children only ride on the track when no one is near it and that you do not allow anyone else to ride on the track but your kids.

You need to let the insurance company know that you have any of these items added to your yard right away. If you do not let them know and someone is injured or even dies because an accidental drowning, the insurance company will not cover the bills and you could be left paying for them out of your own pocket.