When your horse gets loose and decides to run off your property, you will be thankful that you have equine liability insurance. Unpredictable events occur often in the horse industry and insurance is a way to protect your assets while also having peace of mind. If a lawsuit were to fall within your insurance policy, the insurance company would pay for the claim or settlement. There are a few different types of equine insurance that offer protection from unexpected events.
Equine Personal Liability Insurance
Personal liability insurance protects individuals from 3rd party lawsuits. If your horse were to injure someone or damage property, you would be covered. A 3rd party is anyone other than employees and family members.
Sometimes, this type of insurance can be added to a homeowner’s insurance policy. If it cannot be added to your homeowner’s insurance policy, consider an umbrella liability policy. An umbrella policy provides a larger limit for general liability.
Now, all members of USEF have a homeowner’s liability policy included in their membership. So even if you are not interested in joining the foundation, consider it for the insurance purposes.
Equine Commercial General Liability Insurance
If you are planning on offering boarding, lessons, onsite leases, training packages, and the sale of horses; then you’ll need commercial liability. Any commercial venture where money is exchanged for horse-related activities are not covered by personal liability, thus require commercial liability insurance. It’s also crucial that these policies are very detailed and include every single activity that will occur on the property.
Employer Liability Insurance
Any employee’s that take care of horses are not covered by personal liability or commercial liability. An employer must have employer liability insurance in order to cover any employee injuries and provide workers compensation.
By Anna Hellman
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