The price of trampolines has come down significantly thanks to the increasing number of trampoline brands. This means that you can get a trampoline for your family without breaking the bank.
Before doing that, though, you want to do due diligence on the impact that a trampoline may have on your home insurance coverage. This post highlights vital trampoline and homeowners insurance considerations worth making if you’re thinking of buying a trampoline.
While you view a trampoline as a source of non-stop fun when your family is home, your insurance provider does not share that sentiment. On the contrary, it considers it an ‘attractive nuisance.’
In simple words, an attractive nuisance is something that attracts visitors or improves your compound’s appeal while posing a potential danger. Typical attractive nuisances in most homeowners’ yards include all trampoline types (incl. water trampolines), swimming pools and fountains, wells, machinery, and stairs.
Attractive nuisances can result in serious or fatal injuries, although they are often preventable. Whether these elements attract welcome or unwelcome users, you must take all safety measures to ensure that they don’t injure themselves. In the case of a trampoline, these safety precautions may include installing an enclosure net, ladder and discouraging kids from using even safest trampolines without supervision from an adult.
Now that trampoline is categorized under attractive nuisance, will it be covered in your home insurance? The answer is- it depends.
Typically, a home insurance policy covers your house and personal property. You also get liability coverage, which pays medical bills to individuals who are hurt while on your property, especially if the injuries can be linked to negligence from your side.
Whether you’ll get trampoline insurance coverage will depend on your provider’s policies. There are over 3 million trampolines in active use in the USA today. By the same breath, statistics show that insurances spend a whopping $280 million a year in the treatment of trampoline-related injuries. This is not a surprise considering that there are approximately 100,000 cases of trampoline accidents each year. Judging by these figures, it’s understandable to see more companies hesitating to cover trampoline insurance cost.
Note that homeowners’ policies are different. The fact that one insurance provider doesn’t cover the trampoline doesn’t mean that all policies work this way. That’s why it’s critical to peruse your policy again if you’ve just bought or you’re in the process of purchasing a trampoline.
Typically, homeowners covers come in 3 major types;
- Insurance policy with no exclusion
This type of cover has no exclusions, meaning you’re allowed to own a trampoline around your home. This trampoline home insurance also doesn’t make it mandatory to place safety components, such as an enclosure.
- Policy covers trampolines but has limitations
If your home insurance policy falls under this category, you’re allowed to have a trampoline. However, the insurance company may impose some safety requirements to reduce the risk of potential danger. This may include things such as installing a safety net and enclosing the trampoline in a lockable fenced-in area to prevent unwanted visitors and unsupervised usage.
- No cover for trampolines
In some cases, the insurance company may point out openly that trampolines aren’t included in the cover. This is just as it sounds- the insurer won’t be responsible for any liability claims and damages emanating from the use of trampolines within your compound.
A question that we get often is whether adding a trampoline will take home insurance cost up? Yes. This will certainly happen if your insurance cover allows trampolines. On average, you should expect a $50-$100 increase in your premiums due to the additional liability coverage. When a trampoline is added to the mix, most insurance companies recommend an extra $50,000-$100,000 on top of your original liability coverage.
Probably not. When it comes to trampoline and homeowners insurance, there are only stances that the insurance companies can take: cover or not to cover.
If your carrier doesn’t cover trampolines in its policies, then it’s very unlikely that you’ll be allowed to pay extra to have the trampoline covered. Notably, if you go ahead to buy a trampoline while your carrier doesn’t allow it, you may not be allowed to renew the policy on the grounds of no-tolerance.
However, if the insurance company doesn’t object to your desire to add a trampoline to your compound, you’re most likely going to be hit with an increase in the cost of your premiums. In some cases, you may also be required to purchase extra liability insurance because this is an attractive nuisance.
If you’re determined to purchase a trampoline for your family, here are a few secrets that will give you peace of mind;
- Don’t try to hide it from your carrier.
- Increase your liability limit of your existing policy if possible.
- Consider making your trampoline as safe as possible.
- If you’re currently residing in a rented home, hunt around for a renters policy that covers trampolines.