Insurance of all kinds has become endemic in our society today; car insurance, home owners insurance, health insurance, and everything in between. The role of insurance in our lives is the protection of our assets. And when it comes to horse insurance, the goals are the same. For those who own one or more horses, horse insurance provides them with the same peace of mind as any other insurance policy.
Just as a serious collector of antique cars would think nothing of purchasing a comprehensive insurance policy to protect his financial interests, the owners of horses must similarly protect their interests. Horse insurance policies are purchased just like any other insurance policy – through reputable underwriters that specialize in this particular type of insurance. The breadth and subsequent price of the insurance policy depends on the type and level of coverage that the horse owner chooses to purchase.
In most cases, horse insurance is purchased because the livelihood of the horse owner depends on the functionality of the horse. For instance, those horses that are used for racing or breeding – and subsequently bring their owners a financial return – are often considered to be prime candidates for horse insurance.
There are a number of different options when it comes to horse insurance and each owner must examine the policies as they relate to their particular situation. Insurance policies can often be customized to fit the owner’s particular situation and needs but there is some common practices standard to most policies.
One such horse insurance policy includes coverage for the death of the animal. In this case, the owner receives a pre-determined lump sum payout in the event of an untimely death of the horse.
In the event of permanent incapacitation, due to injury or illness, the horse insurance policy will often pay the owner a percentage of the amount the horse would have earned throughout a healthy lifetime. This coverage is often extended to race or show horses.
For horse breeders, a horse insurance policy that covers infertility is often necessary, as the inability to breed particular horses could result in a significant loss of revenue.
In some cases, owners will purchase a horse insurance policy that acts much like a health insurance policy for humans, covering major medical care in the event of illness, and even specific surgical procedures should the animal require surgical intervention.
There are often caveats placed on a particular horse insurance policy that extends coverage for injury or death to the horse as a result of particular risk factors such as lightening or during the transportation of the horse. These are factors that are spelled out in detail in the policy and are often pricey add-ons. But, depending on the particular situation, it may be well worth the cost.
Most importantly, it is essential that anyone interested in purchasing a horse insurance policy do so through a knowledgeable and trustworthy underwriter. If you are unclear about a particular company’s reputation, you should be sure to do your homework. Just as you do with any other insurance policy, get a variety of quotes and comparison shop. In so doing, you can find horse insurance that makes significant allowances for the care of your horse and subsequently protects your financial interests.
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I carry a basic property insurance that includes my own horses (Not boarders). I hate to sound like a cheap skate but my attorney drew up a set of very iron clad release from liability forms. That release myself, my staff and my property from any liability to the boarders, thier horses, their tack, their vehicles or any and all property they bring on my premises and and damage to others caused by their horse should it escape.
Check your states equine liability act if it has one and see exactly how far you are released from liability under your states act.
USE and attorney to write your releases, one that is well versed in your states equine laws. In my state by signing the releases it constitutes a contract that will stand up in court.
In todays world of stupid people sueing businesses for their own individual stupidity and claiming negligence at every turn, I would not b e concerned about the boarders health and well being. I am more concerned with the litigation and finacial ruin they will put you through for their own gain.
One example is a suit brought against me in 2002 where a parent signed the releases for her child to ride in my arena, claiming the child (15) was a very experienced rider. Long story short the kid had never ridden before he got on his gelding in my arena and lost control of the horse almost instantly and got tossed hard into the arena panels breaking his arm, fracturing his skull and breaking several ribs.
A month later I recieved notice I was being sued, It was being claimed I was negligent in letting the child ride a horse beyond his ability.
The release with the parents signature relieved me of responsability and the clause that I was not going to enforce (riders are responsable for damages to my property while riding) Got them ordered to compensate me for the bent up corral panel.
I do carry a liability insurance that covers people with out releases that is pretty cheap. I am more worried about people tresspassing and getting in the wrong paddock and a wild horse killing them.
Your insurance rates will be considerably lower also if you have a strict release policy. I won't let my own kids ride without a signed release from my X wife, hell I wouldnt let my own mother on the property with out signing a release.
IL. has a very good equine liability act, when used in conjunction with releases. The only way to get in any real trouble here is if you knowingly and intentionally cause someone or their animal harm. Thus I dont carry insurance for boarded horses or their owners or guest. Depending on your states liability laws really depends on your level of insurance if any.
We were much better off when the CIA discretely took care of terrorist and the general public had no idea or fear. No that its out in the open its destroying our way of life. Its not a trojan horse because it is real, but politicians do use it for their own agendas and gains.