No Time for Horse Play
Insurance Coverage for Your Horse
Owning horses can be rewarding, but it can also present liability exposures. For instance, if your horse gets loose in the road and causes an accident or injures someone at a show, you could be held liable. If you own horses but don’t operate a commercial horse business, consider purchasing private horse owner liability insurance. This can protect you against legal claims that your horse caused bodily injury or property damage to someone either on or off your premises.
A typical equine liability insurance policy includes the following:
- Coverage that applies on or off your premises in the U.S., Canada and U.S. territories
- Liability coverage with defense costs, with typical coverage up to $1 million, as an example
In order to qualify for coverage under a private horse owner liability policy, you need to fulfill certain conditions. Ask your insurance broker or a member of the ‘A’ Team about other types of coverage, such as commercial equine liability coverage, if you’re one of these types of owners:
- Racehorse owner
- Trainer or riding instructor
- Trainer, breeder or stable owner
- Veterinarian, animal hospital, domestic pet breeder, kennel or animal cemetery
Coverage also doesn’t apply if you use horses with a carriage, buggy or similar vehicle. In addition, there are several other important points to consider when purchasing equine insurance:
- Your horse must be between the ages of 24 hours and 17 years to insure it for full mortality. For horses over the age of 18 years, extended named perils coverage is available.
- If the owners of the place where you board your horse have care, custody and control coverage, you aren’t protected by their policy. It covers them in the event your horse is injured or killed and you claim negligence. A full mortality policy is appropriate for protecting your investment.
- You can insure your horse for its fair market value or any lesser amount. If your horse has been training and competing, its value may have increased. You can substantiate this value by submitting a competition record, breeding record or opinion by a professional equestrian.
The considerable time and money you invest in your horse is too important to go unprotected. All risk mortality and theft coverage will reimburse you for the death, theft or humane destruction of a covered horse.
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