Did you know that your spa and pool, whether inground or above-ground, are not automatically covered by your home insurance? This comes as a surprise to many. In fact, half of all consumers (47%*) are unaware of all the exclusions in their insurance policy!
According to the Insurance Bureau of Canada, proper pool and spa insurance requires adding extra coverage (riders) to your basic insurance policy. For example, water damage caused by your pool (should it break) is covered under basic policies, however, damage caused to your pool or equipment (including your heat pump) from freezing or thawing is not covered.
Riders generally cover the following:
- Pools or spas located outside the home
- Maintenance equipment
- Decks that are attached to the pool or spa, but not to the home
Good to know
- Injury, death and water damage caused to your neighbours are automatically covered by your liability insurance.
- Inflatable pools or spas are covered under basic home insurance, as long as they are properly stored during the winter.
- If you file a claim, the deductible is approximately $500.
- If you purchase a home with a pool or spa, find out the make, model and size of the pool or spa, as well as the date of purchase and installation. Also, try to get a copy of the contract and any repair invoices.
When purchasing a pool or spa, contact your insurer to know all your options for getting proper insurance.
* Survey conducted by Léger for the Chambre de l’assurance de dommages and the Chambre de la sécurité financière; May 2018.