NEW YORK (CNNMoney.com) - For many homeowners pool covers are coming off for the summer. But don't dive in just yet. Drowning was the number one cause of accidental death for kids under five years old.

In today's tips we're going to tell you how to keep your pool safe.

Pool alarms use sensors to detect motion in the water. They can either float on the water, or attach to the side of the pool. These alarms are designed go off within a matter of seconds if your kid falls into the water.

But buyer beware. According to a recent study by Consumer Reports, only two out of six alarms worked well. Three were rated not acceptable. This means the alarms either set off false alarms, or were slow in going off.

The recommended alarms included Poolguard PGRM–AG for $140 and Poolguard PGRM-2 for $225.

Inflatable pools are bigger and cheaper than ever before. And they're becoming more deadly too. In fact, the Consumer Product Safety Commission said the number of kids who died in inflatable pools nearly doubled last year.

One in five of the above-ground pools sold in the United States each year may pose a safety hazard, according to Consumer Reports. These pools often fall outside of local building codes that require barriers. And kids can just climb up the sides.

Don't let your guard down just because the pool is inflatable. When you're not using your above-ground pool, make sure you remove any ladders or steps leading to the pool.

Surround a backyard pool with a fence at least 4 feet high on all sides. The fence should have a self-closing, self-latching gate that remains locked when the pool is not being used. The safest fence will have vertical bars with spacing no wider than four inches so that small enough that children cannot slip through them.

Pool fences should not have any footholds or ledges that might allow a child to climb over. Make sure the fence is no more than two inches off the ground. If you've had your fence in place for a while, make sure the space underneath has not increased with settling or erosion.

Pool filtration systems and drains are another danger zone in pools. A kid can actually get stuck in the pool's filtration system by the sheer force of the suction. This is called entrapment. Entrapment can also happen when a child's hair or swimsuit gets tangled in the drain or on an underwater object - like a ladder.

To avoid such an accident, make sure your drain covers are dome-shaped, not flat. Flat covers can create a seal that can cause your child to get stuck against the drain. You can get dome-shaped covers at your local pool store.

Supervision is the most important step you can take to make sure your child is safe at all times. About 70 percent of victims had been missing from sight for less than 5 minutes, according to the CPSC. So you should have your cell phone, emergency numbers and flotation devices, like a ring buoy, around the pool.

Toys that float are not meant to save a life. You'll want to limit or even eliminate these inflatable toys. They're in the water, they're liable to overturn, leaving your child underwater. And of course, it's always a good idea to know CPR. Check with your local Red Cross chapter at www.redcross.org to find out how you can take lessons.

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Gerri Willis is a personal finance editor for CNN Business News and the host for Open House. Send your questions, your comments and your own ideas to us at 5tips@cnn.com.