You’re Testing Horse Ownership
You've always loved horses. You want to find out what it’s like to have a horse. So before you decide to spend a lot of money to buy your own horse, you choose to lease a horse as a trial.
You find horse stables close to where you live that have horses that you can lease. You talk to the owner about working out a lease for a year.
Before you close the deal, you should think about Ontario equine insurance you’ll need when leasing a horse.
Have you thought about:
- Insurance you’ll need if you don’t own the horse?
- Ways to protect your lease fees?
- Housing your horse?
- Transporting your horse?
- Liability if your horse injures someone or damages property?
When you take on a lease, you’re the horse’s temporary owner and with that you assume some responsibility for it and any liability in Ontario. That means, even though you don’t own the horse, you’ll need equine insurance.
The horse’s current owner will want to make sure that you insure the horse. Typically, the owner of the horse needs to complete our HEP forms in order to apply for the insurance.
As the lessee you should always have your own liability insurance on the horse. The owners will have you sign a written agreement that clearly spells out the terms and responsibilities, and the owner may ask for a specific minimum of limit of liability.
Make sure you’re clear on the terms of the lease including:
- The term of the lease
- Agreed use of the horse (pleasure, riding, breeding, etc.)
- Where the horse will stay and the conditions of these premises
- Level of care
- Use and misuse
- Return of the horse
- Who pays for feed, farrier and vet expenses
- Who carries major medical expenses
You’ll want to protect your lease fees that you paid the horse owner. That’s why you need to consider the Lease Fee Protection Plan that Henry Equestrian Insurance Brokers Ltd offers. This gives you coverage to protect the lease fee you pay in Ontario if the horse you’re leasing dies.
Whether you have a barn or stables for the horse you’re leasing, or if you’re boarding your leased horse at someone else’s farm, you want to know what your insurance needs are in Ontario.
If you have your own stables where you can keep your horse, you likely already have your barn covered under your Farm Owners Insurance or Hobby Farm Insurance. This would include all your building structures and their contents including livestock and tack.
If you’re boarding your horse at someone else’s farm, you want to make sure that they have the right insurance. Ask them if their farm liability coverage is extended to include boarding of horses and if they have Care, Custody & Control coverage.
At Henry Equestrian Insurance Brokers Ltd we’ll walk you through everything you need to think about now that you own a horse. Getting the right horse insurance is a good start, so we’ll make sure you have everything you need.
Transportation Coverage In Ontario
You’re moving your leased horse from your farm to a friend’s or to a horse show. You need a horse trailer. Not only is there a risk of an accident while you’re travelling on the road, but also while you’re loading and unloading the horse.
With Henry Equestrian Insurance Brokers Ltd., you can insure your new horse trailer under your HEP plan policy. It will insure your trailer for collision, upset and specified perils coverage such as damage caused by fire, lightning, theft and windstorm. Once you attach your trailer to your truck, the liability coverage for the trailer would extend from the pulling vehicle.
We can also provide separate Livestock Trailer Insurance, combined truck and trailer coverage, or add it as an endorsement to your horse insurance policy. As a separate policy you get:
- Separate liability and comprehensive coverage if not fully covered by your truck insurance
- Protection against vandalism, theft and other types of damage beyond any coverage you may be entitled to under your other insurance policies
- Coverage for tack and other equipment stored in your trailer
- Cash value or full replacement options
- High limits, up to $50,000 or even more
You can even build roadside assistance options into your Ontario Livestock Trailer Insurance, as well as board and lodging expenses (including for your horses) if you become stranded after an accident or breakdown.
If you have any questions about whether you need additional horse trailer insurance, call us at Henry Equestrian Insurance Brokers Ltd. We’ll look at your current coverage and make sure you get what you need for the right price. Call us today for a free, no-obligation quote.
Liability And Injuries
When you lease a horse you need to worry about more than the horse’s health, but the health of those who come in contact with the horse. You also need to worry about property damage if you take the horse on someone else’s premises. Even worse you could be drawn into a lawsuit. As the leasee in Ontario, you can be held liable.
Even if you haven’t had a lot of experience with horses, you know that they can sometimes act unpredictably. By making sure that you have the right insurance, you’ll protect yourself from any financial issues due to a lawsuit or claim.
Your Equine Insurance policy covers liability up to $1 million or more.
Give us a call at 905-727-1144 or click on the Free Insurance Quote button today for a free no-obligation quote.
Our equine experts at Henry Equestrian Insurance Brokers Ltd have over 35 years experience. We’ll make sure you’re covered in case you’re held responsible for any liability issues.