We all know that having a trampoline in your backyard can be a blast for the kids (and let’s face it, adults too!). But before you leap into the air with joy, there’s something you need to consider: how trampolines can impact your homeowners insurance rates and your overall risk exposures.
Yes, you read that right. Trampolines and insurance rates are like peanut butter and jelly – they’re often linked together, and the connection isn’t always as sweet as you’d hope. Some insurance carriers are ok with homeowners having trampolines, others not so much! So, let’s dive into this bouncing issue and see what you can do to stay safe and how Younger Insurance can help make sure you are protected.
Why Do Trampolines Affect Insurance Rates?
First things first, why are insurance companies so concerned about trampolines? Well, it all comes down to risk. Trampolines can be a ton of fun, but they can also be a source of injuries. Insurance companies see them as potential accident magnets, and accidents can lead to claims, which can, in turn, lead to increased premiums for homeowners.
Here’s how it works: Generally speaking, if someone gets hurt while using your trampoline, they might file a claim against your homeowners insurance. This could be for medical bills, pain and suffering, or other related costs. If this happens, your insurance company might decide that your trampoline poses too much of a risk and either raise your premiums or even drop your coverage altogether. This is one of the reasons some insurance companies do not want to insure you at all, simply because you have a trampoline.
Ways to Minimize Risk and Keep Insurance Rates Down
Now, don’t fret! It’s not all bad news. There are ways to minimize the risk associated with trampolines and keep your insurance rates in check. Most of these tips are not going to cause your rates to be lower, but they will lower your risk level, which can help prevent claims.
- Install Safety Nets: One of the best ways to reduce the risk of injury is to install safety nets around your trampoline. These nets can prevent users from falling off and injuring themselves, making your trampoline a safer place to bounce. Most new trampolines have these already built in. It is important to keep them installed!
- Regular Maintenance: Keep your trampoline in tip-top shape by regularly inspecting it for wear and tear. Replace any damaged parts promptly to ensure the equipment remains safe to use.
- Set Rules: Establish some ground rules for trampoline use. For example, limit the number of people jumping at once, and ensure that kids are always supervised when using the trampoline. Clear guidelines can help prevent accidents.
- Secure Access: Consider adding a lockable gate or fence around your trampoline to restrict access when it’s not in use. This can prevent unsupervised play and reduce the likelihood of injuries.
- Inform Your Insurance Company: Be upfront with your insurance provider about the presence of a trampoline on your property. Some insurers may offer coverage options specifically tailored to trampolines, while others may require additional liability coverage.
- Anchor Your Trampoline: Many risks of trampolines come from the act of using the trampoline, but claims resulting in trampolines causing damage to other people and property are just as prevalent. Trampolines can act as a sail in a storm. Wind gets up underneath the trampoline and can cause it to go soaring through the air. Best way to keep things grounded is by anchoring your trampoline. There are many ways to do this, but most will use screw-like anchors that tether the trampoline to the ground.
- Placement of Your Trampoline: Generally speaking, it is important to keep the trampoline on flat solid ground. Placing it on a slope can potentially lead to more injuries. Also, keep it away from trees and other structures. They can add to the risk level by impeding the netting or causing other risks.
In conclusion, whether you already have a trampoline or are thinking about getting one, it’s essential to understand how it can affect your insurance rates. By following safety measures and communicating with your insurance company and agent, you can enjoy the thrill of bouncing without the financial bumps and bruises. So, jump on, have fun, and keep those insurance rates down!