To answer the question of how owning a trampoline may affect your home insurance it’s important to first be reminded of the purpose of insurance:
An insurance policy is a contract in which your dollars – in the form of premium payments – are exchanged for the promise your insurance company will pay (provide coverage) if specified damages occur.
In establishing this contract insurance companies assess the likelihood of losses occurring.
When you purchase a home insurance policy you’re not only buying coverage for your home and personal belongings, but also liability protection. The liability portion of your policy responds if a guest visiting your home suffers an injury and sues.
In the process of assessing the likelihood of claims insurance companies look for concerns that pose a higher risk of a person suffering an injury such as swimming pools, dogs prone to biting, and trampolines.
While kids (and even adults) may enjoy bouncing on a trampoline the reality is they pose a high risk of injury. According to the American Academy of Pediatrics, thousands of people are injured on trampolines each year and most of these injuries happen on home trampolines.
If you are considering purchasing a trampoline click here for an informative guide on how to choose a trampoline according to science, detailing 10 factors to consider and is packed with tips and advice. Every insurance company has specific rules regarding trampolines.
These rules vary between insurance companies – some companies simply won’t insure a home with a trampoline while others may require safety precautions like netting around the trampoline and/or a fence around the yard.
It’s important to tell your agent if you’re going to have a trampoline. Otherwise, you run the risk your insurance company may deny coverage and/or cancel your policy. By being up front about a trampoline your agent will be able to match you with an insurance company willing to provide coverage for your specific situation.
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