You've got your sunscreen and beach ball. But do you have insurance for summer fun?

Pool insurance to keep you afloat
Pool insurance to keep you afloat © SeanPavonePhoto / Fotolia

Pool insurance to keep you afloat

It may offer refreshing breaks from scorching summer heat, but a sparkling backyard pool can put you in the financial deep end if you don't have the right amount of insurance.

Regular homeowners insurance may not provide enough coverage for a pool, and some policies may even exclude pools, says Kevin Smith, a spokesman for Allstate.

Pools can be dangerous, so they increase your liability risk because you stand a greater chance of being sued or having to pay someone's medical expenses. Nearly 400 children under 15 drown each year in pools and spas, according to the U.S. Consumer Product Safety Commission.

Boost your liability coverage when you put in a new pool, Smith suggests. And consider an umbrella policy, which increases your liability coverage beyond what you have on other policies.

"For instance, a few hundred dollars a year may allow you to get up to $1 million in additional liability protection beyond your existing auto and/or property insurance coverages," Smith says.

Before installing a pool, review the standards and codes where you live. Those could include requirements for safety equipment, such as fences and locks.



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