How Pools in Vero Beach Affect Your Home Insurance Premiums

Pools in Florida are extremely common. You might purchase a home with an existing pool or you might choose to build one after the fact. Either way, if you have a pool at your home in Vero Beach, it's important to know how it's going to impact your home insurance premiums.

Increased Value

In ground pools have the potential to increase the value of your home significantly. Depending upon the size of the pool, it might cost $20,000 or more. As such, your home value is going to increase by at least of this amount as well. When you factor in such things as screen enclosures and more, it will add to the value even more so.

Anytime you make home improvements and additions, it is going to impact the value. It's important to know the overall value of your home as it will affect not only home insurance but also property taxes.

Increased Risk

Pools are fun to play in, though not everyone knows how to swim. Even those who can swim have drowned in pools because of being knocked unconscious. There are a lot of risks involved with having a pool.

As the homeowner, you are liable for any and all injuries that happen in and around the pool. What this means is that if someone gets injured at your pool, they could sue you for injuries and pain and suffering. Your home insurance in Vero Beach provides liability coverage. This way, the insurance company would take care of lawsuits so that you’re not dealing with the costs entirely on your own.

Increased Premiums

As a result of the increased value and the increased risk, pools are going to cost you more in home insurance premiums. How much it will cost you depends on a number of other factors. Some insurance companies will calculate pools differently than others. It's one of the reasons why you need to get quotes from multiple insurance companies.

Your premiums go up because there is more to replacing or repairing your home in the event of a storm or other disaster. Further, if there is a greater level of risk, there is a greater chance of you filing a claim. Insurance companies charge more as a way to prepare for the risk.

The insurance quote process can be done with the help of an independent insurance agent. You do not have to pay for their help. Instead, they get paid by the insurance company you ultimately choose to go with. It is what ensures you get the help choosing the right insurance for your home in Vero Beach once you get a pool.