Having a pool built in your backyard can increase your home’s value by up to 20%. The ROI for a new deck ranges between 68% and 82%. However, one problem with these and other cool features is that insurers aren’t as enthused about them as St. Augustine, FL, homeowners are.
What are "Attractive Nuisances?"
The insurance agency labels any unnecessary home features that increase the odds of accidents "attractive nuisances." Pools, decks, a new playground, and trampolines all increase liability risks. If you have or decide to install these features on your property, you can expect your insurance premiums to rise. What’s more, if you add these to your property after you buy your insurance policy, you’ll need to tell your insurer about them right away. If you don’t, and someone has an accident, your insurer could deny your claim for compensation, leaving you on the hook to deal with medical bills, lost wages, and potential lawsuits.
Since adding an "attractive nuisance" to your property can increase your liability risks, you may also need to consider adding an umbrella insurance policy to your home insurance coverage. Umbrella insurance increases your home insurance liability limits, covering medical and legal bills once you reach the limits of your home insurance policy.
Need More Info? Call Tim Huber Insurance Today!
Our team at Tim Huber Insurance is familiar with the needs of St. Augustine, FL, homeowners. We can help you examine your home insurance options and pick coverage that meets your needs. If you’re looking for a home insurance policy that offers ample coverage for "attractive nuisances" without breaking the bank, give us a call at your convenience.
