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How A Pool Affects Your Homeowners Insurance in Colorado?
Jan 25, 2023
What to Do After a Car Accident in Colorado

BY: KEVIN VOLZ | INSURANCE AGENCY PRINCIPAL

  • PERSONAL INSURANCE

For homeowners in Colorado, one of the major considerations when shopping for insurance is how having a swimming pool affects rates - and unfortunately, it's not good news. 


Swimming pools represent an extra risk to insurers as they are potential sources of injury and property damage. However, various strategies can help you minimize this financial burden while protecting your family from harm. 



This article will explain exactly how your Colorado homeowners insurance might be impacted if you choose to install a pool—and provide tips on what steps you can take to keep costs under control.

What Is the Standard Homeowners Insurance in Colorado, and What Does It Cover?

Most homeowners insurance companies in Colorado provide a basic level of protection that covers your property for physical damage and liability for injuries or damage caused by you or another person on your property. 



Although this basic coverage is typically enough to provide peace of mind and financial security, it doesn’t extend to specific risks associated with pool ownership, such as accidental drowning.

How Does Installing a Pool Affect Your Homeowners Insurance in Colorado?

Installing a pool in your home can have significant impacts on your homeowners' insurance policy. Here are some of the impacts:


a) Higher Premiums


Having a pool generally leads to higher homeowners insurance premiums. This is because pools are considered to be an extra risk, and so insurers need to factor that into their rates when offering coverage. The increased liability associated with having a pool, as well as the potential for property damage, makes it a risky endeavor for insurers, and so they will often increase premiums to compensate.


Higher premiums can be a significant burden on homeowners in Colorado, as it can make insurance unaffordable or discourage them from investing in a pool in the first place. 


b) Swimming Pools Are an Attractive Nuisance


Swimming pools are considered an attractive nuisance because they are a source of potential injury or property damage. This is especially true for homeowners in Colorado who may not have fencing around their pools to keep out unwanted visitors. 


Without a fence, children and pets can easily wander into the pool area and potentially drown or suffer other injuries. This is why many homeowners insurance companies in Colorado require you to install a fence around your pool if you want to receive coverage.


c) Excess Liability Coverage


Because of the extra risks associated with having a pool, many insurers in Colorado require you to purchase excess liability coverage in addition to your standard homeowner's insurance policy. This additional coverage will protect you from any costs associated with injury or property damage caused by a pool accident. 


If you choose not to purchase this extra coverage, your regular homeowner's insurance may not provide enough protection, and you could be left footing the bill for medical expenses, legal fees, or property damage caused by someone using your pool.


Having a pool is an investment that can bring years of enjoyment and relaxation to your family. However, it's important to remember that there are additional risks associated with owning a pool, and these need to be taken into consideration when purchasing homeowners insurance in Colorado.

How Can You Reduce Your Homeowners Insurance Rates After Installing a Pool?

Despite the fact that pools can significantly raise your homeowners' insurance rates in Colorado, there are still steps you can take to minimize this financial burden. Here are some tips:


  • Install a Pool Fence: One of the best ways to reduce your homeowners' insurance costs in Colorado is to install a fence around your pool. A fence will help keep unwanted visitors out and provide an extra layer of protection against accidental drowning.
  • Increase Your Deductible: Increasing your deductible can also help reduce your homeowners' insurance premiums, as this will lower the risk you're taking. However, it's important to make sure that you can afford the increased deductible in case of an accident or other incident involving your pool.
  • Review Your Homeowner's Association Rules: If you live in an area with a homeowner's association, it is important to ensure that your pool meets its regulations. Some homeowners' associations have strict rules and regulations regarding pools, so it is important to review these before installing a pool in order to avoid any potential conflict or fines. Additionally, some insurance companies may offer discounts for homeowners who are in compliance with their association's rules, so it is worth looking into this as well.
  • Consider Adding Additional Pool Safety Features: There are a number of additional safety features that can be installed to help keep your pool safe and reduce the risk of accidents or injuries. These can include pool alarms, automatic shut-off valves, and other devices that will help to ensure that your pool is safe to use. Additionally, adding these features may help you qualify for discounts on your insurance premiums as well.
  • Keep A First Aid Kid Nearby: It is also a good idea to keep a first aid kit near your pool in case of any accidents or injuries. This can help you provide immediate medical attention to anyone who may be hurt and will also demonstrate to insurance companies that you are taking proper safety precautions.
  • Create A Non-Slip Surface Around the Pool Area: Creating a non-slip surface around the pool area is also an important safety measure that can help reduce the risk of slips and falls. This can be done by installing floor mats or slip-resistant tiles, creating a safer environment for anyone using the pool.
  • Post A List of Pool Rules and Emergency Contact Numbers: Lastly, it is important to post a list of pool rules and emergency contact numbers near the pool area. This will help ensure that everyone using the pool understands how to use it safely and can also provide vital contact information in case of an accident or injury.


Installing a pool can be an exciting addition to any home in Colorado, but it's important to consider the additional risks and costs associated with owning a pool. 


By taking some of these steps, you can ensure that you are properly protected while still keeping your insurance premiums affordable.

How Are Pools Classified on Your Insurance Policy?

Homeowners insurance typically includes pools as a type of hazard known as an "attractive nuisance." This term refers to objects or features that may attract children but also pose a danger. Pools may be listed separately in a policy, but they are often grouped in with other hazards of this type, such as trampolines.

How Much Does Pool Insurance Cost in Colorado?

The cost of pool insurance in Colorado depends on how the pool is classified in relation to the home. It can either be included in the overall value of the home or considered as a separate structure.


Replacement Value for Pools


When a pool is considered part of the replacement value of a home, it is treated like an additional room. The cost of insurance will increase to reflect the value of the pool. For example, if a home is worth $400,000 and a $25,000 pool is added, the home's replacement value becomes $425,000, and the insurance premiums will rise accordingly.


Pools as External Structures


If your pool is considered an external structure, it may be covered by your homeowners' insurance at a percentage of the replacement value of your home, usually around 10%. If the value of your pool and other external structures stays within the coverage limit, your premiums should remain stable or only increase slightly. However, if the value of your pool exceeds the external structure coverage, you may need to purchase additional insurance.

What About Swimming Pool Liability Coverage?

Swimming pools can be a liability risk for homeowners. You could be held liable if someone is injured or killed in your pool, even if they were not authorized to use it. In order to protect yourself financially in case of a lawsuit or legal fees, it is recommended to have at least $500,000 in liability coverage. This amount may be higher than what is typically included in standard homeowners insurance, so you may need to pay extra for this coverage. 



It's essential to ensure that your insurance plan has adequate liability coverage for your swimming pool to protect yourself from unexpected costs.

What About Above-Ground Pools?

Above-ground pools are often considered personal property, rather than external structures, when it comes to homeowners insurance coverage. This is because they are technically regarded as mobile, even though moving them is not practical.



As a result, they are typically insured according to your personal property coverage. This means that having an above-ground pool should not greatly increase your homeowners' insurance premiums.

Having a Question? Contact Badger Insurance Advisors Today!

If you have any questions about homeowners insurance in Colorado, contact Badger Insurance Advisors today. Our experienced team can help you find the best coverage for your needs and budget. We will work with you to review your current policies and explain all the options available to you so you can make an informed decision. 



With our knowledge and expertise, you can be assured that you are getting the most cost-effective and comprehensive coverage for your pool. Don't hesitate to contact us and let our advisors help you secure the right insurance plan for your unique needs.

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Why are insurance rates so high?

By Kevin Volz • 05 Feb, 2024
Like most other goods and services, insurance is not immune to the pressure of inflation. When determining insurance premiums, insurance companies look at many factors including industry trends, number of claims and costs to repair vehicles and homes. Specifically, home building materials and auto repair have increased, chip shortages have pressured supply chains and pricing on new vehicles, and a labor shortage persists. Let’s not forget natural disasters and our litigious culture! Add these ingredients together, and you have a recipe for higher prices better known as “Insurance Inflation”. Digging a little deeper… Since the pandemic, driving behavior has become riskier. I remember the lockdown days when no one was on the road. We were driving less, fewer incidents were being reported, and insurers were even providing rebates for limited driving activity. Those days are now long past…I know I’m getting older and becoming the “get off my lawn guy”, but driving behavior truly seems more aggressive. "People picked up some risky habits," says Sean Kevelighan, CEO of the Insurance Information Institute . "And we haven't seen those risky habits go away, even though we have more people on the road." According to the National Highway Traffic Safety Administration , the number of fatal auto accidents jumped sharply in late 2020 and early 2021. Auto insurance costs jumped more than 19% during the year ending in August, while overall inflation was 3.7%, according to the Bureau of Labor Statistics . (see image above) Gathering my Google thoughts recently lead me to this local headline: “ Coloradans report dramatic spikes in home insurance premiums heading into 2024 .” A March 2023 study conducted by the state’s Division of Insurance found that between January 2019 and October 2022, the average homeowner premium was up nearly 52%. My automated response these days to insurance customers about homeowners rates has been “we’re seeing 30-60% increases for everyone statewide”. The problem is even worse in other states like California/Florida/Louisiana where insurers have decided to no longer offer coverage in many cases. My dad lives in Florida, he recently asked “What am I supposed to do? My rate just doubled!” Other than moving to another low-risk state, there are not many clear-cut answers. Higher insurance rates may be here to stay…what can I do about it? -Ask your insurer about discounts for which you may qualify. -Claim frequency will also lead to rate increases. Before filing that next claim, ask yourself “is this worth filing? Will the claim payout be well beyond my deductible? -Explore payment options like automatic EFT payments or paying for the year in full. -Increase your deductible. -Consider a bundle of insurance coverages with one company. -Maintain a good driving record along with healthy credit (insurance companies use their own scoring model) and participate in a safe driving app offered by most insurers. -Reduce liability and coverage limits. If your net worth is minimal and you don’t have high take home pay, there is a strong argument not to have $500,000+ of liability coverage. Attorneys most likely will not come after you if you have no money. -One of the biggest ways to save is by buying an older car or a new model with a high safety rating. Do your homework, research insurance costs before purchasing your next vehicle. -Shop around, not every 6 months, but at least every other year! If you’ve been with the same company for a long time, another company will probably give you a decent offer for loyalty. -Ask about the mileage your insurer has on file. If you no longer drive as much as you used to, companies often will lower your rates based on limited mileage. Resources: http://www.rmiia.org/auto/Colorados_insurance_marketplace.asp https://www.finn.com/en-US/campaign/the-state-insurance-report https://www.apci.org/media/news-releases/release/76883/ At Badger Insurance Advisors, we understand that “stuff” happens! (that includes INFLATION). Whether you’re in our neighborhood of Aurora, or anywhere else in Colorado, we’re here to assist with all your personal insurance needs. Find us on the web at www.badgerinsuranceadvisors.com or call/text us at 303-359-1799. Kevin Volz – Agency Principal Badger Insurance Advisors

Clarifying Flood Insurance

By Kevin Volz • 25 May, 2023
Were you aware??? -Floods are the number one disaster in the United States. -More than 20% of all flood insurance claims come from areas in low to moderate-risk flood zones. -Just one inch of water can cause large financial losses. -Almost everyone lives or works near a flood zone. -Standard home and business insurance policies typically do not cover flood insurance. As an insurance agent primarily serving Colorado, flood insurance is a topic not discussed very often. General reasoning is that we live in an arid climate with relatively low annual precipitation…why spend money on something that has a low probability of occurrence? Well, tell that to the residents of Louisville, Colorado or other mountain towns that have been devastated by wildfires, statistically low occurrence probability events. This brings us to May 2023! Historically, May is the wettest month in Colorado with an average precipitation of 2.5 inches. As of May 17, 2023, Denver International Airport recorded 4.7 inches, almost double the average, and officially cracks the top 10 wettest May’s ever. If you’re curious, the wettest May in Colorado happened in 1876, over 8.5 inches…crazy by comparison! Since May 17 th , I’ve spent a majority of my days on the phone with customers discussing coverages and limitations of homeowners policies, and of course a fair amount of time speaking with claims departments. I thought I’d take a moment to clarify flood insurance… Do I need flood insurance? Just because you haven't experienced a flood in the past, doesn't mean you won't in the future. The reality is a flood can happen to anyone, anywhere, at any time. Common flood causes include rainfall, river-flow, topography, and changes to the landscape due to building and development. Here is a link to help you understand flood risk in your area: https://msc.fema.gov/portal/home Is flood insurance mandatory? Often, homes and businesses in high-risk flood zones are required to have home or business flood insurance coverage. Don’t wait until it’s too late… Typically, there's a 30-day waiting period after a flood insurance policy is purchased before it becomes effective. Understanding that floods are one of the top natural disasters in the country, it is encouraged that you review your flood insurance options. What is not covered by flood insurance? Like most insurance policies, there are usually specific coverage exclusions and limitations. Examples of uncovered or excluded losses: -Damage caused by moisture, mildew, or mold that could have been avoided by the property owner. -Additional living expenses such as temporary housing. -Most self-propelled vehicles such as cars, including their parts (auto insurance with comprehensive coverage will cover flood damage to vehicles). -Property and belongings outside of a building such as trees, plants, shrubs, wells, septic systems, walks, decks, patios, fences, seawalls, hot tubs, and swimming pools. -Financial losses such as business interruption or loss of use of insured property. What does flood insurance cover? The NFIP (National Flood Insurance Program) offers two types of flood insurance — building and contents — each with a separate deductible. A deductible is the amount of a claim you’re responsible for paying. Building coverage ($250,000 limit) Building coverage is insurance for the structure of your home (akin to dwelling coverage on a homeowners policy). This pays for flood damage to things like: Electrical and plumbing systems, water heaters, furnaces, foundation walls, built-in appliances, cabinets, permanently installed carpets, detached garages, fuel and well water tanks, solar energy equipment, and window blinds. Contents coverage ($100,000 limit) Similar to personal property coverage on a homeowners or renters policy, contents coverage pays for damage to your “stuff”. Typically, this includes clothing, furniture, electronics, curtains, and appliances. The NFIP covers your belongings on an “actual cash value” basis. This means that if you file a flood insurance claim, your payout will reflect what your belongings were worth at the time of the flood, not a “replacement cost”. Is there flood insurance with limits beyond what the NFIP offers? Yes, broader coverage and higher limits are available via private flood insurance policies. Further resources: Flood Insurance | DORA Division of Insurance (colorado.gov) At Badger Insurance Advisors, we understand that “stuff” happens! Whether you’re in our neighborhood of Aurora, or anywhere else in Colorado, we’re here to assist with all your personal insurance needs. Find us on the web at www.badgerinsuranceadvisors.com or call us at 303-359-1799. Kevin Volz – Agency Principal Badger Insurance Advisors

3 Strikes - Insurance baseball in Colorado

By Kevin Volz • 17 Mar, 2023
Whether it's baseball, a legal precedent, or insurance claims..."3 strikes" are not good!

Solar Energy & Homeowner's Insurance - Things to Consider

By Kevin Volz • 19 Feb, 2023
It’s an issue of concern to an increasing number of homeowners each year. According to the Solar Energy Industries Association, residential solar energy has experienced an average yearly growth rate of 68% over the last decade. Before taxes, an installed rooftop solar energy system can cost anywhere between $15,000 and $25,000, according to the Center for Sustainable Energy. I recently received a bid for my new home in the Painted Prairie neighborhood of Aurora, Colorado, and the number was pushing $40,000…crazy! Paying to replace a damaged system could be a big financial burden for many homeowners. Being able to insure that investment against damage from a storm or other event could be key in whether you choose to add solar panels to your home. Solar panel insurance coverage is included in most homeowners insurance policies. However, you may need to increase the amount of coverage on your home to account for the cost of the system which can then raise your premium. Solar systems and rooftop panels are considered a permanent attachment to your property, like a patio or a security system. If the panels are separate from your home's primary structure—mounted on the ground or on a detached carport, for instance—they are usually included in coverage for "other structures." If you lease your solar panels instead of buying them, ask the solar company how insuring them works. Many companies will insure the panels themselves. However, some companies may want you to add them to your homeowners insurance, or have you purchase solar panel insurance that they sell. Solar panel systems can be an excellent investment, reducing your electricity bill while increasing the value of your home. Protecting that investment with the proper homeowners insurance can help ensure you’re covered if the unexpected happens. If you’d like to discuss the implications of solar and your homeowners policy, contact us at badgerinsuranceadvisors.com . Kevin Volz - Agency Principal - Badger Insurance Advisors

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