Are you thinking about getting a trampoline for your yard?
Before you go out and buy the trampoline, we’d like to share some things you should do and think about in regard to how it will affect your homeowners insurance policy.
Statistics shows that having a trampoline increases the likelihood that someone will be injured on your property. Therefore, it increases your chances of having a liability or medical payments claim by your homeowners insurance company.
Because you have a trampoline does that mean that your homeowners insurance will cost more? It depends. Different insurance companies look at trampolines differently. Before you purchase the trampoline, talk with your insurance professional to determine how your insurance company will respond to this increase in risk.
Each insurance company may look at a trampoline differently, for example:
- No Restrictions: an insurance company may not care and there might not be any restrictions or difference in cost if you have or do not have a trampoline.
- Netting: an insurance company may require you to put netting around the trampoline to be eligible for coverage.
- Surcharge: an insurance company may surcharge the policy for having a trampoline – this could be a charge of $25-$50 a year, depending on the company.
- Ineligible for coverage: an insurance company may not allow you to own a trampoline, whether it is netted or not. The company will usually cancel or non-renew the homeowners insurance policy as soon as they know that the trampoline is on the property.
- Exclusion: an insurance company may have a trampoline liability exclusion on the policy. Meaning if there is a claim involving a trampoline there is no liability coverage.
The above reasons are why it is important to read your homeowners insurance policy carefully and not to assume that all policies are the same.
The trampoline is considered an attractive nuisance by insurance companies, which is like having a pool or a playground. These types of items are attractive to kids in the neighborhood to want to come visit your home. The more kids or people on your property, the greater the likelihood that someone could be injured on the property. This increased risk is what could result in higher home insurance premiums.
The most common injury when it comes to trampolines is broken bones. Head and neck injuries as well as concussions are not uncommon. Children generally use trampolines, so if they have a life altering injury, the longer duration that the insurance company will have to provide benefits.
If you have a trampoline it is important that you discuss safety with your family when they are using it.
The below safety precautions will help reduce the chance of someone getting injured on your trampoline:
- Having a net on your trampoline will reduce the risk of someone being bounced off onto the ground.
- Limiting the number of people on the trampoline at one time. The most serious injuries occur when there are multiple people jumping and one falls on top of the other or they bump heads while they are jumping.
- Adult supervision while the trampoline is in use.
- Have a fence around your yard with a locking gate will help prevent the neighborhood kids from using the trampoline when you are not home.
When considering getting a trampoline, please review your homeowners insurance policy with your insurance agent. This is to be sure that you do not have an exclusion and that the insurance company will continue to provide coverage and there will not be a premium increase.
You should also review your current liability limit coverage. You will also want to discuss with your agent about a personal umbrella insurance policy. This kind of policy will increase your liability insurance coverage should an injury happen on your property because of the trampoline.
Using a trampoline is fun and great exercise. Please understand that it does increase your risk of a liability claim. Be sure you have the appropriate insurance coverage in place. Give R.C. Keller & Company a call at 847-907-4520 to make sure you have the correct coverage.
R.C. Keller & Company is a full-service independent insurance agency. We have been serving the families of Schaumburg since 1910. We offer home insurance, auto insurance, business insurance and life insurance products. Give us a call today.