With a horse business, you’re bound to have visitors. No matter how much a visitor may love horses, it doesn’t mean they have experience with them.
Horses are large animals that can sometimes act unpredictably. No matter how well you train your horses you need to protect yourself against a claim or lawsuit.
What you’ll discover in this report:
- The difference between horse breeding Insurance and a farmowners policy
- Common claims against breeders
- How to plan ahead
- Coverage offered by a commercial general liability policy
- Other types of insurance to consider
How Horse Breeding Insurance Differs From Farmowners Insurance
Your farmowners policy isn’t that different from your homeowners policy, except that it covers you for raising, keeping and selling anything you have on your farm, including livestock. When you make money from breeding horses, it means you have a commercial business, which requires a different kind of liability insurance.
When breeding horses, you’re exposed to visitors to your farm, exhibiting and showing, riding or driving your horses for promotion on and off your property, horse sales, open house events, and advertising and promotion.
Top Claims Against Horse Breeding Businesses
The most common claim incidents involving horse breeding businesses include:
- A mare owner is injured while at your farm to view your stallion
- A prospect gets hurt while riding a horse you’re trying to sell
- A horse you own or board gets loose through a damaged fence or open gate and runs into traffic, causing an accident.
- A horse you’re caring for gets hurt or dies within your care or on your property due to negligence
How To Plan Ahead
We know you care about the horses you breed. Below are steps you can take to protect yourself against potential accidents.
Enforce barn rules
Develop rules for your environment for both horses and people. Train staff members so they understand rules and procedures. Document procedures.
Plan for emergencies
Emergencies happen. But the more prepared you are, the better chance you have of providing proper care to your horses. Preparation can minimize the severity of any accident.
Develop semi-annual inspections of your property
By inspecting your premises for potential hazards, you can take care of them before an incident occurs.
Prepare a written waiver and review your province’s Occupiers’ Liability Act
Your province's Occupiers’ Liability Act could state that the stable owner/operator owes a duty of care to the people who enter their premises, which assures that any property they bring on your premises is also reasonably safe.
Anyone who participates in horse activities on your premises needs to complete and sign your province’s waiver, if applicable. Make sure to keep signed forms on file and safely stored. You are free to restrict, modify or exclude this duty of care through your written waiver.
Follow Provincial Safety Regulations
Check your provincial safety regulations regarding helmet use for minors and if helmets need to meet certain criteria, such as ASTM, BSI or European Safety Standards. Footwear is also often regulated (i.e. hard-soled footwear with a heel of no less than 1.5 centimeters).
Purchase an equine liability insurance policy
Protect you and your business with an insurance company that knows horses and your business. You want to make sure that any legal fees are covered, claim costs and settlements to ensure that in the case of an accident, your business doesn’t suffer a financial loss.
What’s Included in the Commercial General Liability Policy?
The policy gives you maximum limits or amounts of liability insurance for:
- Lawsuits for bodily injury or property damage caused by conducting your business operations
- Legal defense costs: You can save your business the financial burden of court costs if you’re sued, whether or not the case has merit.
- Claims or settlement costs: Without this policy, the business could be held responsible for bodily injury and property damage claims.
Other Coverages To Consider
In addition to horse breeding insurance, you should also consider:
- Care, custody and control liability: This policy protects you from expenditures for loss, illness or injury that could happen to a boarded horse in your care.
- Horse boarding insurance: When you’re caring for horses owned by others, you want to protect your business from liabilities such as injuries to the horse, the owner or their visitors.
- Tack, equipment and machinery insurance: Protect your tools and your business by insuring your tack, equipment and machinery against loss or damage.
Get Horse Breeding Insurance Today
At Henry Equestrian, Powered by NFP, we understand horses and we want to make sure your operation is protected with the right coverage. Contact us today to learn more or click below for a free, no-obligation quote.