Horse Farm and Ranch Insurance

June 14, 2018

Everyone likes to save money, especially on insurance. Sometimes farm property includes multiple buildings and a business with multiple commercial ventures.

Rather than requiring Canadians to purchase a number of packages from multiple insurers, Henry Equestrian can customize a package insurance policy for your horse business, farm, ranch or hobby farm.

This will often give you more protection with additional enhancements under one policy. We can guide you through the process of selecting the best coverages, deductible and limits that work for you and protect from liability and multi-perils.

You should consider this package if you:

Have a horse farm or ranch
Own a rural estate
Have a hobby farm
Run a horse business
Are an equestrian homeowner
Run an agri-tourism farm
Are involved in ranch tourism

What you’ll discover in this report:

The different categories of insurance covered in a package
What’s included in a commercial general liability policy
What to do if you have other hard-to-insure liabilities

What Different Categories of Insurance Are in a Package?

There are three categories of insurance in a package, as well as subtypes under those categories.

Property Loss and Damage Insurance for Dwellings and Contents, and Other Buildings

Depending on the type, value and condition of the buildings, there are differing levels of dwelling coverage: basic, broad and comprehensive and two levels of outbuilding coverage: Named Perils and All Risk.

Loss of or damage to the following types of buildings can be covered under this portion of the policy:

Dwelling and household contents (loss of use included)
Scheduled personal property (includes valuables and collections)
Rented dwellings
Garages
Stables and barns (if specifically insured on the policy)
Indoor arena (if specifically insured on the policy)
Other farm structures, storage sheds and outbuildings (if specifically insured on the policy)

Property Loss and Damage Insurance for Farm Personal Property Including Livestock

While the structures on the farm property will usually be of highest value, horse people know that the machinery, equipment and tack add up. Even just replacing all your water buckets and wheelbarrows can be expensive!

Loss of or damage to the following farm personal property is covered under this portion of the policy:

Machinery
Farm tools and equipment
Horse tack and equipment
Animal feed, hay, bedding and crop seed
Horses
Cattle
Other livestock
Fencing

NOTE: For your livestock, you may want to consider more complete and comprehensive horse and equine life insurance or horse and equine surgical and major medical insurance. These are not available as part of the package policy.

Liability Insurance

There are five types of liability insurance to consider, most of which can be built into one comprehensive farm insurance policy:

Personal liability: Protects you and your immediate family members.
Farm liability: Insures your agricultural/farming management and the work you do with your livestock. Contact your insurance broker for the details on this coverage because it varies based on insurer.
Commercial general liability: Insures your commercial operations and protects you from financial loss. (Some special-risk horse activities may be insured but check with your insurance broker.)
Care, custody and control: Protects you from damages due to injury or loss if you don’t own the horses you’re caring for.)
Equine professional liability: Protects your business if you offer professional services. This includes farriers, trainers, riding instructors and more.

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.

What if I Have Difficult-To-Insure Exposures?

If you offer services like pony rides, horse-drawn vehicle rides, trail guides, instruction or horse-related camps, we can often coordinate your policies to make sure your property and any business you do is protected.

Back