Can Attractive Nuisances Increase Your Homeowners Insurance Rates?
The risk of covering your home is a major determination of how much you pay for insurance. Part of risk is determining whether you have an attractive nuisances on your property. If so, you could be faced with higher premiums. If you are a homeowner, here is what you need to know about attractive nuisances and your insurance rates.
What Is It?
An attractive nuisance is basically a feature on your property that could be considered dangerous in certain settings, but also attractive to children. When a child is injured due to the feature, you could be held liable. Even if the child trespassed on your property, you could be responsible.
For instance, if you have a swimming pool in your backyard and there is not a fence around it, if a child is hurt after sneaking onto your property and using the pool, you could be sued. The parents of the child could file a claim on your homeowners insurance. By not protecting the pool, you made it more attractive to the child.
What Features Are Considered Attractive Nuisances?
A swimming pool is one of the most commonly found attractive nuisances on private properties, but there are many others that could get the attention of children. For instance, if you have large farm equipment on your land, such as a tractor, it could present a risk.
Fountains and ponds on your property could also be hazardous. If you have any abandoned cars on the property, a child could suffer an injury while playing in and around them.
Even playground equipment could be considered attractive nuisances. When it comes to the equipment, swings and slides are problems, but you also need to concerned with toys, such as trampolines.
What Can You Do?
Unfortunately, having any feature that is considered an attractive nuisance could mean a higher insurance premium. You can reduce how much you pay by lowering the risk associated with the feature though.
For instance, the addition of a locked fence around the swimming pool can make it safer. You could even fence in farm equipment that could be dangerous.
You could make abandoned cars safer by ensuring they are locked and safely on the ground. If possible, remove them from the property. You can even lock them in a garage.
Talk to an insurance agent, such as at Atlantis Financial Group, about the potential attractive nuisances that are on your property and what you can do to lower their impact on your homeowners insurance rates.