New Study Reveals True Cost of Pool Ownership

The article, “Is Pool Coverage in Home Warranties Worth It? A Complete and Impartial Analysis,” was released Monday. The report exposes common maintenance issues, the cost of major repairs, and insurance options for pool owners.

Pool ownership in the United States recently hit record levels with over 6 percent of all single family households owning pools, representing 5.1 million homes.

In some areas, pool ownership is the norm. In Coral Gables, Florida, an astonishing 66 percent of homes feature a residential pool. The increasing popularity of pools necessitates a greater understanding about the true costs of ownership.

The report finds that those costs vary significantly by the kind of pool installation, with concrete costing the most by far, and vinyl costing the least. Fiberglass is generally somewhere in the middle.

In spite of this, the study finds, among other things, that costs of ownership may be higher for both vinyl and concrete than fiberglass, when maintenance and major repairs are considered.

The cost of pool installation can range from approximately $9,000 to $54,300. Adding to that, however, a random sample of homeowners show monthly maintenance costs from $30 to $240.

Consumer self-reports of major, unexpected repairs are studied in-depth. Pumps represent the most frequent concern, with 53 percent of consumers reporting them as the problem in reviews.

These major repairs are the primary unexpected challenges faced by pool owners. A single such problem can cost as much as $1,200, the report finds. For these reasons, some consumers may seek an insurance product, such as home warranties, to help cover these major costs.

Review Home Warranties’ report considers how 20 of the largest home warranty companies covered such major repairs, with startling results. The report exposes some companies that provide low coverage limits, while some do not provide any details of coverage at all. A study of consumer complaints found that 48% have had an issue with claim denial, illustrating the importance of getting it right.

Sifting through the data, the report ultimately discovers 3 companies providing “above average” pool coverage, and equips consumers to ask the right questions about coverage.

The report may be found on the web at http://www.reviewhomewarranties.com/pool-warranty/, and is free.

Contact Information

Olena Prachenko

Research Coordinator

ReviewHomeWarranties.com

research@reviewhomewarranties.com