They are fun, you were jealous of the kids who had them, you probably asked your parents for one when you were a child, and you were probably met with some reluctance.
I was that kid… growing up my best friend had a trampoline. During that time, I am not sure that there were a lot of safety restrictions on them. I remember begging my parents to get one. There was a lot of deflection, avoided questions, and strange reasons as to why we could not have one.
Flash forward to now, I understand entirely why my parents were so hesitant to get me a trampoline.
Much like pools, fireplaces, wood stoves…etc. some insurance companies are all for insuring them, and some just are not. You have more luck when you have all the right precautions in place to make sure your trampoline is a safe as it can possibly be.
Remember, what is our favorite phrase to use as insurance agents? IT DEPENDS.
That is right, it depends.
It depends on if the trampoline is surrounded by safety netting up to a specific height.
It depends on if the trampoline is fenced in and inaccessible to unsuspecting guests or children.
For some insurance companies, they may cover your home and other detached structures like barns and sheds, but they may say they are going to exclude your trampoline as it is not within their guidelines.
However, others will agree to cover them but ask that you increase your liability limits and medical paymentlimits. They may even ask that the you take out an umbrella policy to add an extra layer of protection against any claims made. In some cases, you may see an increase in your premiums due to the higher chance of claims.
It is not impossible to insure a home with a trampoline; it just may take a bit more work on your part as the homeowner.
Trampolines are considered attractive nuisances. They entice children to play on them, adults to have fun on them and trespassers to test them out.
We know that it can be frustrating when you are being told what you can and cannot have at your property. Whether you are required to obtain insurance because of your mortgage company, or you have it to protect your assets, insurance companies’ goals are to have their insureds reduce the risk of a claim to the best of their ability. Therefore, there may be some restrictions.
As we said in last week’s blog, matching you with an insurance company is like a matchmaking service. We must see which ones you are compatible with. If you own a trampoline and are having difficulty finding an insurance company that will insure it. Click the link below and we will start the process!