There are several aspects to consider before getting liability insurance for your equine business. These include coverage, cost, and risk categories. Before you purchase an insurance policy, knowing which categories apply to you is important. Below are some tips to help you decide which policy is best for you.

Coverage

Regardless of the size of your business, liability insurance can protect you against losses due to the negligence or omission of your employees or customers. Before purchasing equine liability insurance, understand what type of coverage is available for your business. Liability insurance covers the costs of bodily injury and property damage, including medical payments. It can also protect your products and services, such as lessons or riding lessons. It also protects you in the event of a fire, including the costs of repairing damaged property. In addition, liability insurance can cover payments for legal defense if you are sued.

When looking for liability insurance for equine professionals, it’s important to consider the cost of the coverage. The cost of a policy can vary widely. The cost of a policy depends on how much coverage you need and how often you are involved in horse events. Liability insurance for horse events is designed to protect you from lawsuits when your activities endanger a horse or client.

In some cases, liability insurance for equine professionals includes an umbrella policy that provides extra coverage. This type of coverage is useful for small businesses with many horses in their care. It can also cover the cost of any animal health products or tack damaged during a horse accident.

Cost

Liability insurance is vital for equine professionals, especially those working with horses. It protects you from lawsuits resulting from negligence or other accidents. In addition to property damages, it also protects against bodily injury claims. Horse professionals should consider purchasing a commercial general liability policy that covers injuries and property damages. Some policies even cover fire department and pollution cleanup expenses.

Liability insurance for horse professionals can be expensive, but it can help protect your business from lawsuits. The cost of legal defense can easily exceed $50,000, so it’s important to understand the coverage offered. Also, talk to your insurance agent to make sure your policy includes protection against blind spots. Typically, horse professionals in the United States spend between $300 and $700 per year to maintain a $1 million general liability policy.

Insurance for horse professionals comes in two forms, Commercial Equine General Liability and Equine Professional Liability. Depending on your specific needs, this coverage can cover various horse-related activities, including day camps and therapeutic riding programs. However, it won’t cover rough stock events and public trail rides. Equine Professional Liability extends liability coverage to cover bodily injury or property damage caused by a horse or its rider.

While veterinarians don’t need to purchase liability insurance for horses, it’s a prudent choice for any professional involved in the care of horses. While liability coverage is a must for veterinarians, it’s also an excellent option for non-vet employees.

Risk Categories

When equine professionals offer services, they need liability insurance that protects them against claims from horse owners or others who their services may injure. This liability insurance should include the risks inherent in the activities they perform. Whether a provider is riding, teaching, or working with animals, they must take the time to assess each client’s skills and abilities. If a client’s safety is in danger, they must immediately stop the lesson or ride.

While prudent horse providers try to select horses that behave consistently under any situation, unexpected situations may arise. For example, a horse may rear or take off without warning. A prudent horse provider would use stables with stables and riding arenas that are designed to minimize the risks associated with horses. Even if a client has good experience riding horses, there is always a chance that a horse might startle them or rear them unexpectedly. This is referred to as the inherent risk of equine behavior.

Regardless of how carefully you plan a ride, riding, or training session, you must still have liability insurance. These policies protect the equine professional and others from the financial loss associated with an accident. Accidents happen even with careful planning and can lead to expensive and lengthy litigation. If you don’t have the appropriate liability insurance, you can pay for the costs yourself.