Beware of purchasing a trampoline without alerting your homeowner’s insurance company
If you have any school-aged children, the question is almost inevitable: Can we get a trampoline? While this may seem like an innocent enough question, the implications of having a trampoline on your property can be significant—especially when it comes to your homeowner’s insurance policy.
How is my homeowners insurance affected by having a trampoline?
The short answer is that it depends. While some insurance companies allow trampolines, others do not. So if you or your kids are adamant about having a trampoline, it’s important to check with your insurance agent to see if trampolines are even permitted. If they are there are, there will likely be strict requirements regarding netting and padding.
If you must have a trampoline, you may have to switch insurance companies, which may or may not be an issue. If you’ve had an insurance claim in the past or your home is in need of significant work, you may end up creating more problems for yourself by switching insurance companies. New homeowners insurance often means new underwriting and sometimes a new inspection, so if you’re changing insurance companies merely for a trampoline, it’s best to think about this decision carefully.
If you have an insurance company that does not allow a trampoline and you purchase one anyway, you could be looking at a cancellation or a non-renewal notice if the insurance company ever finds out. This can easily happen if the insurance company does a drive-by inspection or an agent is notified.
Will my insurance premium increase if I own a trampoline?
Many people think that their insurance premium will increase if they purchase a trampoline, but this is usually not the case. It’s more a matter of whether your insurance company will allow you to own a trampoline. Insurance companies typically don’t charge more for a trampoline hazard because a small increase in premium is unlikely to cover the potential liability should someone be injured on the trampoline.
What if I don’t tell my homeowner’s insurance company?
If you choose to not tell your insurance company about an existing trampoline while shopping for new insurance, you are taking a big risk. If it is proven that you didn’t disclose of the trampoline on the insurance application, then coverage can be denied for any claim—even if it does not involve the trampoline.
If you already have homeowners coverage and purchase a trampoline the implications are a bit different, but it’s always a good idea to discuss the possibility of owning a trampoline with your agent prior to actually purchasing the trampoline.
Why don’t homeowner’s insurance companies like trampolines?
The frequency and severity of injuries related to trampolines is far too great. Over 1 million people went to the hospital emergency room for trampoline-related injuries between 2002 and 2011, and almost 300,000 of these injuries involved some type of broken bone, according to a recent study.
Still have questions about trampolines and your homeowner’s policy?
If you still have questions related to trampolines and your homeowner’s insurance policy, contact Avante Insurance today at 305-648-7070.