Insurance companies hate trampolines, and for good reason. Trampolines account for over 100,000 injuries every year. This makes owning a trampoline a huge liability if you have home insurance. Learn what you should know about trampolines and home insurance so you aren't confused about any coverage you may (or may not) have.
You may not be covered
Your home insurance provider may choose not to cover your trampoline at all, which means if anyone gets injured on it you have to pay for the medical damages yourself. This includes neighborhood children who get hurt jumping on your trampoline without your permission.
Another thing your home insurance provider may do is consider you too much of a risk and drop your coverage altogether, especially if you already are considered a high-risk client. Other factors you may have included in your home insurance that can cause you to be dropped by owning a trampoline include:
- owning a pet that is considered dangerous
- owning a swimming pool
- living in a flood plain or earthquake fault
You should talk to your home insurance agent prior to getting or installing your trampoline to make sure that your coverage won't be dropped in placing it on your property.
You may have to pay more for coverage
In the event you are able to have a trampoline and still have it covered through your home insurance, you may have to pay more for your premium. You may have a 'nuisance surcharge' added to your policy since you have what is called an 'attractive nuisance' on your property. Basically, an attractive nuisance is anything you have on your property that you know about that can be potentially attractive for children. Depending on what your home insurance covers, this can be anything from a swimming pool to a riding lawn mower to your trampoline. To help cover the liability of having a trampoline in your yard, you pay the nuisance surcharge. You have to pay this even if you take precautions to keep your trampoline away from children, such as locking your gates or keeping a net around the toy.
You may have to adhere to special guidelines
Your home insurance company may require that you place a protective net around your trampoline in order for it to be allowed on your insurance policy. They may also require that you sign a waiver that if anyone other than your family members within the home get injured on the toy, you alone are liable for the damages. Make sure you talk to your home insurance agent to learn any special precautions you need for your trampoline before you set it up.
Trampolines and home insurance often don't mix. Before you set yours up, you should know if you are even allowed to include it in your policy, and if so, what rules you have to abide by. Always let your home insurance company (such as Kerr Agency) know you have a trampoline so you can avoid potentially losing insurance on your home as a result.