When you buy your homeowners insurance, you want to make sure you have most appropriate coverage in place. That means accounting for all of the pressing liabilities and costly possessions valued on the property. If you have a trampoline for your own or your children’s use, then you need to make sure coverage applies to it. Trampolines are both valuable and risky, and that’s why they could impact the way your policy needs to be structured. Always check with your insurer to find out the way to insure this piece of property. Here are some of the conditions that might apply.
Possessions Insurance for Trampolines
Trampolines, and their various attachments and safety gear, cost money—usually, several hundred dollars. Your possessions insurance can usually cover damage to the item, such as if it gets damaged when a storm causes a tree to fall on it. Minus your deductibles, your policy can then compensate you for the qualifying losses. The policy may refuse to pay if the damage is not covered by the policy, such as if you intentionally damage the trampoline.
It is easy to understand that trampolines, as both recreational and sporting equipment, can be dangerous. People can fall off of them, and sustain serious injuries. This might happen not only to your children, but also to others, like neighbors or friends. If your child gets hurt on the trampoline, then your health insurance can cover their injury costs.
However, if a neighbor or friend gets hurt on the trampoline, your homeowners liability insurance might step in. The coverage can, first, compensate the party for their injury costs and related expenses. Furthermore, should that party sue you for their losses, coverage can help you pay for your legal costs.
Limits Within Homeowners Insurance
Talk closely to your homeowners insurer about the way the policy will address the trampoline. There are three common ways that coverage might apply.
The first two are full coverage for trampoline losses and total exclusions of trampoline losses. In the former cases, the policy will cover all losses associated with damage or lawsuits related to the trampoline, up to the policy limits. A total exclusion will cover no such losses, at all.
The third case is conditional coverage based on safety devices. What this essentially means is, that to trigger your policy to cover your trampoline, you will need to have appropriate safety devices, like netting, installed on the item. Different insurers might require different safety precautions, so talk to your agent about the right course of action.