Owning a horse farm requires insurance that is uniquely different from, but similar to, common home insurance.
As many of you may know, horses are a big part of my family's life. Our love of the four-legged, long-faced hay burners has been important in my wife and kids' lives since birth. Horses require different levels of care and attention. Horses are often much like your children, uniquely different but amazingly similar to each other at the same time.
Owning a horse farm requires insurance that is uniquely different from, but also similar to, your more common home insurance. First, here are some important questions you need to answer.
- 01How many horses do you keep on premises?
- 02Do you own all the horses that are kept on premises?
- 03Do you offer any boarding and/or training?
- 04Do you sell and/or breed horses?
- 05How many acres do you have?
- 06Are there any farming operations — crop, hay, other livestock?
Each of these questions is important in determining how your property insurance is structured. One of the most commonly overlooked and underinsured coverages is your liability coverage. Liability is a critical component of every property and auto policy. Your legal liability for harm caused to others generally is decided by a court. So how do you know if you are protected? The simple answer: have a conversation with a local agent.
Written by Bryan McClean, Principal Agent & Founder of Insure Logic.