Is renting your pool out this summer a good idea? Let’s dive in and find out!
Swimply is a reasonably new online marketplace where you can rent your pool out for individuals or groups to enjoy. The Airbnb of swimming pools if you will. Swimply appeared on the popular show Shark Tank in 2019, though it failed to impress any of the sharks enough to invest in it. Fast forward to the summer of 2020, Covid had been here for 4 months, people were working from home, children learning remote and everything was closed. People were desperate for new outdoor options that got them out of their own homes. Suddenly it was easier to overlook the red flags around a pool rental arrangement.
Swimply offers its hosts a $1,000,000 liability policy as well as up to $10,000 in property damage through Evanston Insurance Company, an A-Rated insurance carrier. However, as is critical with all insurance policies, understanding what is specifically covered and not covered makes all the difference.
What is covered under Swimply’s liability policy:
- Pool-related injuries to guests during a Swimply booked for and paid reservation
- Grill-related injuries to guests during a Swimply booked for and paid reservation
What is not covered under Swimply’s liability policy:
- Injuries that arise outside the times of a booked and paid for Swimply reservation
- Injuries or losses arising out of the consumption of alcohol
- Injuries related to the use of swings, trampolines, or bounce-house/inflatables
- Injuries arising out of any fire pit, fireplace, outdoor heater, or patio heater
- Injuries to pets during a Swimply reservation
- Injuries arising from intentional acts, including but not limited to: (i) assault and battery, (ii) sexual abuse or molestation
- Injuries arising from the operation of any vehicle getting to or from a Swimply reservation.
- Injuries arising out of acts of nature, including but not limited to: pollution, earthquakes, and weather-related events such as rain, wind, etc
- Injuries arising out of communicable diseases, bacteria, or microorganisms of any type, nature, or description, including but not limited to any substance whose presence poses an actual or potential threat to human health
- Losses not reported within 72 hours of the date of the reservation or without sufficient documentation
What is not covered under Swimply’s Property Damage coverage:
- Damages that arise outside the times of a booked and paid for Swimply reservation
- Damages to a host’s property caused by pets, children, or others residing in the host’s home
- Losses arising from a manufacturer’s or a product’s defects, or from pre-existing damages or conditions of the item or property, normal wear, and tear, or deterioration
- Losses arising from theft or stolen property
- Losses arising from intentional acts, including but not limited to identity theft or fraud
- Losses arising out of acts of nature, including but not limited to: pollution, earthquakes, and weather-related events such as rain, wind, etc.
- Losses not reported
From the carrier of your homeowners policy’s point of view, this new rental opportunity is not all fun in the sun. Participation in Swimply will make you ineligible for the standard market for homeowners insurance. Most voluntary carriers (if not all) exclude this type of activity as it is viewed as a business exposure mixed with the risk of injury or death.
As a licensed insurance agent, I recommend thinking twice about renting your pool out to strangers, even if it may seem lucrative. The risk to your financial security outweighs the money you could make. In the event of a claim, trying to make a profit on your pool could leave you floundering.
