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Lower price alternatives?

I like this camera, but I can't bring my self to spend more than the $200 I have budgeted for this purchase. I have not seen it fo less than $300. Does anyone have a suggestion for a good alternative. I don't need it to have a THAT water resistant, just for use around the pool. More of and insurance!

Any ideas, please share!

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If you have an iPhone, Lifeproof makes sense.

If you could go with a video camera instead of stills, the Kodak Playsport series does 720p@60fps and easy to just throw in a pocket.

PS Not much lower cost, but I bought the Nikon AW100 for $280 in June or so and it's done the job. It's the most expensive and best camera I own so just take that into comparison if you're a DSLR kinda guy or a more experienced photog.
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I have an Android (Galaxy Nexus) phone, so the Lifeproof case is out.
I'm really looking for a camera I can use and lend to my family for trips. Kind of takes phone cameras out of the run.
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