As a kid, trampolines were the best! Any chance to jump on the trampoline was a good time. However, as you get older, you may begin to see why your parents said no to buying one for your backyard.
Now, owning your own home, it’s important to know how having a trampoline can affect your homeowners’ insurance. Staples & Associates has everything you need to know if you’re thinking about buying a trampoline for your home.
Different Insurance Company Trampoline Guidelines
Every insurance company can view trampoline ownership differently. Here are a few examples of the stances your company might take.
No Trampoline Coverage: The insurance company may have a policy excluding any claims involving a trampoline. The “attractive nuisance” aspect of a trampoline, meaning more kids in the yard, and a higher risk of injury, can cause some insurance companies to steer clear of it completely.
Safety Features: Netting and other safety features are encouraged to reduce the risk of injury from a trampoline. However, your insurance company can require netting in order for there to be any eligibility for trampoline insurance coverage.
Homeowners’ Insurance Ineligibility: In the most strict of cases, the insurance company may deem you ineligible for homeowners insurance if they are aware of a trampoline on the property, or become aware of one.
Extra Costs: The company may be willing to offer trampoline liability coverage for an additional charge each year. This may range between $25-50 depending on the insurance company.
No Restrictions: Your homeowners’ insurance may not be affected at all by owning a trampoline! No safety features are required, and no extra cost with or without a trampoline.
Because the policies can wary, it’s important to read through and understand your homeowners’ insurance policy before getting a trampoline. It is best practice to be upfront with the insurance company and let them know if you do have one, to avoid the consequence if they find out later.
Trampolines sure are fun and can be a great asset to a yard. However, they do come with an increased risk of liability. Contact us at Staples & Associates to make sure you’re covered today!