Better they bounce around in the backyard, right?
With summer here and kids home from school, a lot of parents have the same idea.
But not surprisingly,homeowners insurancecompanies arent too fond of trampolines because theyre responsible for a lot of injuries.
One third of injuries involved broken bones, while 1 in 200 resulted in permanent neurological damage.
Heres how a trampoline could affect your homeowners insurance policy.
When Insurance Falls Short…
Unfortunately, insurance doesnt covereverything.These resourcescan help you manage those unexpected expenses.
When Is Your Trampoline Covered by Home Insurance?
Your homeowner insurance kicks in when someoneoutside your household gets injured.
For example, lets say your childs friend gets hurt.
The property insurance company could have to pay out for medical bills and/or a lawsuit.
Some insurance companies will exclude any incidents related to having a trampoline, Weiss said.
Others may allow trampolines only if there is protective netting.
Many policies exclude you from having a trampoline all together.
If you rent your home, its going to be tough to find a renters policy that covers trampolines.
That doesnt mean they cant, but youre probably going to have to shop around to find coverage.
Still determined to buy that trampoline?
Here are three rules to live by.
Dont Hide It From Your Insurer
The No.
1 rule to follow if youre buying a trampoline: Tell your insurance company.
Talk to them before you make the purchase so you understand all of the consequences.
That could make it more difficult and more expensive to get insurance in the future, Weiss said.
Depending on your insurer, you may be able to increase the liability limit of an existing policy.
You could put your jumpers at risk if you make a mistake while putting it together.
Some things are worth the extra money.
Your kids safety, along with the safety of any child on your property, is among them.
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Robin Hartill is a certified financial planner and former senior editor at The Penny Hoarder.
