The summer season means poolside weekends, outdoor recreation and long-awaited travel plans. While you’re out having fun in the sun, be sure to reevaluate your insurance risks and needs. Your homeowners insurance should apply to seasonal hazards, which can put you in the red if you don’t have adequate coverage. Keep these areas in mind:
- Pool Insurance – Pool accidents are much more common than you think – and if they happen in your backyard, you’ll be liable. Protect yourself from paying sky-high medical expenses or going through legal proceedings by ensuring you have the right amount of coverage. For a maximum safeguard, adopt an umbrella policy.
- Trampoline Insurance – Before inviting friends and family over to enjoy your trampoline, know that either may increase your insurance risk. Consider purchasing an umbrella policy in addition to your homeowners insurance to increase your liability coverage. However, because trampolines can be dangerous, some companies may not insure your property if you own them, or there may be policy exclusions for liability for related injuries. An insurance company may also deny coverage or cancel your policy if you do not follow the policy's safety guidelines or fail to inform them when you purchase a trampoline. Check with your insurance provider for rates, discounts and safety guidelines (such as installing a fence or locked gate).
- All-Terrain Vehicles (ATVs) – ATVs are not covered by standard automobile insurance policies, but your homeowners policy may partially cover liability. Ask your agent if you have sufficient coverage on your homeowners policy. If you do not, you should consider a separate ATV policy. Ask your provider about age restrictions regarding who may operate the ATV or if the policy covers friends and family. Make sure you have the right coverage for your situation and intended use.
- Home Rental – If you’re planning to rent out your home for vacation use, be certain you meet all insurance requirements: some allow short-term rentals under your regular policy, but others may call for more coverage. Additionally, long-term rentals can cost up to 25 percent more. Regular rentals (not for vacation use) will not be covered.
- Vacation Rentals – If you’re the renter, speak with your agent about whether your homeowner’s insurance covers damage where you’re renting. If you’re booking through an online portal, check to see if there’s a policy in place for unforeseen events.
- Traveling – Whether you're leaving home for a weekend getaway or a long road trip, be aware of what your homeowners or renter's policy will cover while you're gone. Typically, your homeowners insurance will follow you, protecting you even while you're not at home. Off-premises' coverage means your belongings are covered anywhere in the world. If you're staying at a hotel and your belongings are stolen, your homeowners policy will provide coverage but the exact coverage depends on your policy. In addition to your deductible, items will typically have a limit on things like jewelry and furs. If you're traveling with high-priced items, it's a good idea to get separate insurance coverage for these items. Contact your agent or insurance company to find out what's covered under your policy.
- More Information –Speak with an experienced professional from Skylight Insurance who would be happy to answer all of your questions on how to insure your summertime fun!