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Jumping on a trampoline is often high on children’s wish lists, leading to a lot of fun and excitement. It also comes with various health benefits for youth and adults, including enhanced immunity, weight loss, increased balance and circulation, reduced stress, and stronger bones. Even so, having a trampoline on your property could impact other factors, including homeowners insurance.
Increased Rates
You’ll need to notify your insurance provider of a trampoline on the property. Once you do so, your rate is likely to increase. An increased rate is often due to the high number of insurance claims associated with trampolines.
A trampoline may not be fully covered. Therefore, verify if you’re receiving complete, conditional, or no coverage before signing or extending a legal agreement. Failing to inform your home insurance provider that the trampoline is on-site could lead to different legal issues as well as canceled coverage because you’re misrepresenting your property.
Types of Coverage
Liability coverage and personal property coverage are the most common insurance types to cover trampolines on a residential property. Liability is for the physical damages caused on your premises, including accidents due to the trampoline. This policy generally covers the costs of medical and legal fees.
For personal property insurance, your rate could increase because you’re obtaining coverage for the trampoline itself. If the equipment is broken, stolen, or damaged due to a fire, for instance, your policy will apply to the financial damages or loss.
Dangers
One reason trampolines can increase home insurance rates or require additional coverage options is because of the risk associated with the equipment. As a result, many individuals refer to a trampoline as an attractive nuisance, meaning it could be fun but also lead to slips, falls, and injuries that make homeowners liable. For example, if a guest is visiting or attending your child’s birthday celebration and is injured when using the trampoline, you could be liable for all legal fees based on your policy’s current limits.
Additionally, health expenses could also be your responsibility, even if the damages aren’t covered under your current insurance plan. In these situations, it’s best to inquire about umbrella insurance plans that can increase your liability coverage.
Learn More
Liability doesn’t only apply to usage you and other adult homeowners have authorized. You could be responsible for damages and expenses if a child or adult guest uses the trampoline without your permission. These factors typically cause insurance coverage to decrease or be declined altogether.
It’s best to speak with professionals about your homeowners insurance coverage, learn what rights you have, what charges are associated with various equipment throughout the home, and more. These individuals can offer you more knowledge and tips about having a trampoline on your property.
For information on choosing affordable homeowners insurance that suits your needs, call on the experienced agents at Altra Insurance Services. In addition to homeowners coverage, we offer a variety of reliable insurance products, including business, renters, and auto insurance. Call us today to learn more about our high-quality service and affordable coverage.