Spring is upon us here in New Jersey and chances are that your kids are begging you to get a trampoline. There are many different issues to think about when making the decision to buy a trampoline; the cost of the trampoline, where to put it in your yard, and most importantly the safety concerns.
It is also necessary to consider an important question: What impact will buying a trampoline have on the cost and coverage of my homeowner’s insurance plan?
The Insurance Costs of Buying a Trampoline
In the US alone, there are approximately three million trampolines in use. An estimated $280 million dollars a year is spent by insurance companies to treat injuries induced by trampoline use. It is understandable that insurance companies are becoming increasingly reluctant to insure homes with trampolines.
The best advice in moving forward is to contact your insurance agent before getting the trampoline to determine how your current homeowner’s insurance will be affected. There are three possible outcomes depending on your carrier:
- No Exclusions: This means that an insurance company doesn’t place any restrictions on trampoline ownership or usage in accordance with your homeowner’s insurance policy.
- Coverage with Safety Precautions: An insurance company may include coverage if you have pads to cover the trampoline springs, a net enclosure for the sides, and/or a fenced-in yard with a gate and working lock. In addition to insurance mandates, you can help make jumping safer by supervising and limiting the number of jumpers, and by placing the trampoline in a level, open area away from any structure children might be tempted to jump from or onto.
- A Trampoline Exclusion: Some homeowner’s insurance policies may not cover trampolines at all. That means if you, your kids, or the neighborhood kids get injured on the trampoline, the insurance company is not liable for those trampoline—related claims. It may also mean that adding a trampoline results in non-renewal of your current policy.
Make sure you do your homework and are properly insured. If your current insurance does not cover the trampoline, consider avoiding the purchase or shopping around for a different insurance carrier.
Need help? Contact LG Insurance Agency for more information regarding your homeowners insurance and trampoline coverage.
