Does Owning a Trampoline Affect Home Insurance?
Does Owning a Trampoline Affect Home Insurance
?Many insurance companies throughout New York State region and Long Island have begun to take a hard look at the existence of trampolines in the backyard of homes that they insure. The industry has watched these backyard trampolines go from being a non-issue in underwriting to being a factor used to disqualify a risk, deny a claim or even cancel an existing policy.
According to the Consumer Product Safety Commission, trampoline injuries have tripled over the past ten years. Additionally, sales of trampolines have increased more than 350%, with an estimated 3.5 million trampolines in use.
As insurance companies react to this increase in exposure, homeowners are advised to review their home insurance policy with their agent/broker to make sure that they are properly covered. Some home insurance policies will contain a Trampoline Exclusion Clause which will exclude liability resulting from a trampoline related injury. This can be a huge financial insurance gap in coverage and may result in a devastating financial hardship should one be sued. It is therefore recommended that you obtain insurance from a carrier that does not exclude this type of liability exposure.
Our insurance agency, among others, is one company that will provide coverage for this. With some carriers the existence of such an exposure is an issue and they may ask you to remove the trampoline or have your insurance policy canceled. Also, in the event that an invited friend or guest is injured while jumping on your trampoline, and you are uncertain whether you have liability coverage for this, you may find out the hard way that you are responsible for some hefty medical bills and legal bills in defending a claim. It would be best to find out now, and not after the fact and take the necessary steps in order to be held financially responsible.
In summary, the important thing is to make sure that your home insurance policy has the necessary coverage to protect you and your family from liability that arises out of trampoline related injuries. If not, then it's is time to start shopping again. If you are wondering where to start, visit http://www.insurancelongisland.net to obtain a free online insurance quote. Why Purchase Home Insurance? No Worry Business Insurance Provided by Heritage Insurance House How To Get A Cheap California Home Insurance Policy? Compare home contents insurance quotes Trusted steps to affordable homeowners insurance in America Stop the fire and save on home insurance Finding out if fire insurance is included in your home insurance How To Read And Understand Insurance Policies On Homes Leasing a House or Apartment California? Then Renters Insurance Should be Something You Consider! Do I Really Need Insurance for my Home? Buckenberger says YES! American Home Insurance--The Fundamental Information Find Cheap Home Insurance Ohio Home Insurance Discounts for Homeowners