Home Insurance Trampoline Coverage

If you have children, you know that trampolines are a favorite backyard fixture. In addition to representing a great deal of enjoyment, trampolines provide efficient exercise.

Studies show that 10 minutes on a trampoline is equivalent to 30 minutes of running. NASA indicates that jumping is 68% more efficient than running.

Jumping is an efficient cardio-vascular fitness exercise and is a low-impact type of exercise that helps clear the lymphatic system and develop bones. What’s not to like about trampolines?

The Mayo Clinic warns that trampoline jumping can pose a high risk of injury to children in that it can lead to strains, sprains, fractures, and injuries to the head and neck.

Safety measures need to be taken to prevent injury.

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Steps to prevent injury can include proper placement of the trampoline. These considerations may be:

• Overhead clearance – at least 24 feet of clearance between the trampoline and overhead wires, roofs, and other overhead hazards
• Lateral clearance – place the trampoline well away from walls, fences, and other structures to prevent injury if someone falls off the trampoline.
• Ground clearance – make sure there is nothing beneath the trampoline. A trampoline safety skirt to prevent children and animals from crawling beneath the device is advisable.
• Place the trampoline on a level surface with a grass or mulched surface. Do not place trampolines above concrete, brick, and stone.
• High-quality pads, mats, and safety nets are recommended to prevent injuries.
• Limit usage of trampolines – children under 6 years of age should not use a trampoline that is 20 inches tall. No more than one jumper should occupy the trampoline at any one time.

Home Insurance Liability Coverage for Trampolines

Consult with the issuer of your home insurance policy to make certain that liability coverage for your trampoline is provided.

Some insurance companies may require a separate rider to provide this coverage at an additional cost.

It is always a good idea to make sure your insurance company is aware of your activities to ensure that coverage is available.

Home Insurance Policies

As the owner or renter of a home, you should be aware of the general coverage that is available under the home insurance policy.

These policies are considered ‘package’ policies by the insurance industry because they provide coverage both for property damage and personal liability.

Property Damage Coverage under a Home Insurance Policy

The categories of property damage under the home insurance policy are as follows:

• Building coverage on the dwelling itself – you choose the amounts, ideally on the replacement value of your home. You choose the deductibles also, but larger deductibles can earn premium credits.
• Other structures such as fences, separate garages, or sheds. This coverage is usually 10% of the coverage on the building.
• Content coverage — the contents of the dwelling – furniture, clothing, appliances, and electronics. This coverage is 50% of the limit of coverage on the building.
• Loss of use — pays for some of the costs while your home is being repaired. This coverage is 20% of the value of the building

Additional Property Coverage to be Considered

Because there are limits to the amount of coverage on certain items such as jewelry, guns, and collectibles, you may wish to schedule this type of coverage upon a rider attached to the home insurance policy, increasing liability.

To do this, you will usually have to get an appraisal upon the articles intended to be covered, provide a copy of the appraisal to the insurance company, and ask them to add this coverage to the policy.

An additional premium will be charged for this, but you will be assured that things such as a wedding ring set, guns, or antiques will be covered for the amounts necessary.

Liability Coverage under a Home Insurance Policy

This covers the liability for financial loss if you are sued and found responsible for injuries or damage to someone else.

This particular coverage would respond if someone sues you. In the event that liability coverage is needed to cover trampoline injuries, this coverage would respond. Financial analysts recommend that the limits of personal liability reflect your net worth.

Medical Payments Coverage under a Home Insurance Policy

Medical payments are a set amount you purchase to pay for injuries that occur to others on your property. The limits are usually from $500 to $5,000 as set by the policyholder.

How to Save Money on Your Home Insurance Policy

There are ways of saving money on insurance premiums. Some of these are:

• Get at least three quotations from different insurance companies using the same limits to compare premiums
• Ask if each insurance company has special criteria for discounts. Many exist, such as credit for larger deductibles, credit for fire and burglar alarms, and credit for belonging to certain organizations.
• Keep a favorable credit score – in most states, insurance companies can use credit scores as a basis for rating insurance policies.

Protecting Yourself When You Purchase Insurance

It is important to be certain that the insurance company and agency you choose are licensed in your state. It is illegal to sell insurance without a license. A source of information about licensing is your state’s insurance website.

Every state has a division of the state government that oversees insurance.

For ease of location, you can link to that site by going to the National Association of Insurance Commissioners (NAIC) website and click on the name of your state.

Your state’s website is a source of information such as complaint ratios and consumer information that is valuable.

Purchase Insurance from a Reputable Company

Insurance companies are required to keep a certain amount of money in reserve to pay policy claims should they occur. You can assess the financial ratings of insurance companies by accessing one of the following links.

• National Association of Insurance Commissioners (NAIC)
• A.M. Best Rating Company
• Standard and Poor’s Ratings

Examine Quotations and Policies Carefully

Place quotations from insurance companies side by side to determine the perils covered, amounts covered, and the values provided.

Make certain, before you make a premium decision, that you look at the reputation of the insurance company, financial soundness of the company, coverage provided, as well as premiums.

Once you have decided upon a policy, be sure to read the policy carefully to make sure that you have the insurance quoted and that you are aware of the responsibilities you owe to the insurance company as well as the duties of the insurance company.

Communication is Vital

Be careful to keep close communication with your insurance company and agent on a regular basis.

The more your agent knows about your lifestyle and activities, the better they will be able to protect you and your family. Insurance agents are bound to confidentiality, but they do need to be informed.

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