We all want to be that cool parent, the one that buys your child, your children, a trampoline for them and their friends to have fun on.
But is this something that your insurance agent needs to know?
Are there any personal ramifications you are leaving yourself open to?
Anytime you have guests at your house, there is always a small risk of accidents happening.
A trampoline only increases that risk.
This is why it is important to discuss with your insurance agent to verify if you have the appropriate homeowner’s coverage that protects you in the event an accident occurs with trampoline.
No Coverage vs. Not Enough Coverage
As an independent agency, our office has access to many insurance companies. This access gives us first-hand knowledge of what type of risk each carrier prefers to write, as well as what they will not cover.
Not all homeowner policies are all-inclusive, which may lead to a gap in coverage.
There are insurance carriers that exclude coverage for trampolines.
This means that in the event someone is injured while using the trampoline, your policy will not cover their medical expenses.
This exclusion would then leave you personally liable to cover the costs incurred from their injuries along with any lawsuits.
Not Enough Coverage
If your insurance company happens to have coverage to protect you, you need to make sure it has enough coverage.
Liability limits on your homeowner’s insurance start at $100,000 per occurrence and most insurance company’s will have options to increase up to $500,000 or $1,000,000.
If getting a trampoline is something you are looking to do, it is important to make sure you have adequate liability coverage.
Another great way to increase your liability protection is through an Umbrella Insurance Policy.
This blog isn’t meant to try and convince you to not get a trampoline, it is to warn you to do your preparation and research before you buy it.
Before you tell your kids, got to the store, and get ready to spend a few hours putting it together, reach out to your current home insurance agent to see if the company you currently have for your home insurance doesn’t have an exclusion on your policy.
Then make sure you have at least $500,000 in liability protection coverage at a minimum. The cost to increase this is extremely minor.
If you don’t have a relationship with an agent or want a review of your home insurance?
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