Read about Insurance Coverage you should have for your Horse Farm, Part 1

Learn about Horse Farm Insurance.

Many Equine enthusiasts take their passion for horses to the next level and start their own farms. Are you one of those people? As with any other business, a horse farm comes with risks of its own, and by addressing them upfront, you can protect yourself from losing everything you’ve worked for. Lucky for you, I LOVE working with horse farms to ensure they have adequate protection for whatever unfortunate events may arise! You might be wondering what types of coverage you should be thinking about when preparing to open your horse farm? Let’s talk about that over the next few weeks.

Care, Custody, and Control

When operating a boarding, breeding, or training facility for non-owned horses, it is imperative that you protect yourself from the risk of a lawsuit if the animal becomes injured or dies while in your custody. Why do you need Care, Custody, and Control coverage when you already have liability insurance? I’m glad you asked! Care, custody, and control are excluded from a General Liability policy. This coverage is necessary because, among other things, barn fires can happen randomly, a building can collapse, or a horse can easily get through a damaged fence, run into the street, and get hit by a car. While your liability coverage will pay for the driver’s bodily injury and property damage, guess who’s responsible for the horse?

Training

No need to hire an outside trainer, you are a world-class horse trainer yourself and prefer to imbue your skills into your own equine friend, and perhaps even take on outside client horses! Your clients all sign waivers and hold harmless agreements prior to taking them on, right? Great! That’s the good news! Now for reality to set in…YOU CAN STILL GET SUED! Operating a training or riding lesson business without the proper liability coverage in place can potentially leave you on the hook for legal fees and judgments against you if you were found negligent in a lawsuit. Bodily injury and property damage claims can get expensive, wouldn’t you rather have coverage in place if you found yourself on the hook financially for, say, a $600,000 judgment?

You’ve read this far, congratulations! We’ve covered a couple of points today…but aren’t done yet. Don’t worry, as mentioned, I’ll be back in a couple of weeks with more necessary horse farm coverages to consider! Tired of reading and just want to get started? No problem! Just contact your Trusted Choice Farm Insurance Advisor at Richey-Barrett Insurance. We’ll discuss your unique needs and make sure you are adequately covered for your new endeavor…you’ll then have everything you NEED and nothing that you don’t! Until next time, my friends…

*Insurance coverage subject to terms and conditions of your particular policy.