Why Choose Equine Insurance Specialists?

Why should I choose Equine Insurance Specialists to handle my insurance needs?

As one of the largest specialty brokerage firms in the country, Equine Insurance Specialists has been a leader in the horse insurance marketplace for nearly thirty years.  We were the first to offer instant online mortality insurance quotes for horses.  To this day, we remain the only broker in the world to offer a comparative rating service that provides instant online mortality quotes from multiple insurance companies.  Feel free to compare coverages and terms for yourself at www.insureyourhorse.com.

Our agents are located in Lexington, KY and Wellington, FL – two major hubs of horse activity in the US.  Since we are licensed in all US States except Alaska and Hawaii, we are able to write your coverage virtually anywhere in the country.  We also have the ability to write coverage on a worldwide basis for buyers looking to import a horse from outside of the US, or clients who are sending their valuable animals to other countries to train, race and show for extended periods of time.

Our name says it all:  Equine Insurance Specialists.  Crafting comprehensive insurance solutions for horse owners, horse farms, instructors and trainers and horse-related businesses such as boarding, breeding, training, riding instruction, sales, events, etc. is all we do.  As specialists in this narrow segment of the insurance marketplace, we have deep knowledge of and direct relationships with the best insurance companies that cover horses and related risks.  This means that we’re not just able to “get you a quote”.  Our experienced staff will design a competitive insurance solution for you from among the best programs the industry has to offer.  We’ll also work with you as your business grows or your needs change in order to ensure that your insurance solution is as comprehensive and competitive in five to ten years as it is today.

Got questions?  Give us a call to ensure you have the best solution to protect your investment.

Does my homeowners insurance cover incidental boarding?

Does my homeowners insurance cover incidental boarding?  I’m only keeping one or two horses for a friend or family member.  This is one of the most frequently-asked questions that we receive.  All too often, the answer to this question is learned too late.  This article describes several claim scenarios and explains how the typical homeowners may or may not respond, and why.  It also includes an easy, low cost solution to the shortcomings of homeowners insurance.

Exposures & Claim Scenarios

There are numerous exposures that exist when caring for non-owned horses.

  • The nonowned horse may injure itself or damage property that belongs to someone else. This might happen if it were to escape from its pasture and be struck by a passing car.
  • A third party may also be injured by a nonowned horse in your care. Referring to the example above, the driver or occupants of the car which strikes that horse on the road may easily be injured or killed in the accident, resulting in an expensive bodily injury lawsuit.
  • Conditions at premises where nonowned horses are kept or ridden may cause bodily injury to a rider or third party. A boarded horse may trip or stumble over soft or loose terrain, causing  a rider to fall and become injured.
  • Finally, the horse may be injured or killed as a result of the care it receives (or didn’t receive). Moldy hay or a lack of enough fresh water to drink might cause a horse to colic and possibly die if prompt medical care isn’t provided.
Little To No Protection

Will your homeowner’s policy adequately protect you in the event of a claim involving a horse you’re caring for? The short answer is “probably not”. There are a couple of reasons why incidental boarding isn’t likely covered by your homeowners insurance, or if coverage does exist, it would only provide a minimal amount of protection.

Business Pursuits Exclusion

The liability coverage afforded under a homeowner’s policy is intended to protect an individual and his or her family members for activities and exposures one would typically have as an “individual”. Whether it’s a baseball that was accidentally thrown through a neighbor’s window or a visitor slipping on ice-covered stairs that weren’t cleared in anticipation of visitors, the homeowners policy is there to respond. However, these policies exclude coverage for liability arising out of the “Business Pursuits” of an insured. Business pursuits are commonly defined as a “continual or recurrent activity carried out for financial gain”. For this reason, the fact that a fee is charged in exchange for care would prevent your homeowner’s policy from protecting you in the event of a claim.

Damage to Property of Others

What if you’re just keeping your friend’s horse as a favor, with no fee charged? This is another area where your homeowners insurance might still let you down. Many popular homeowners policies include up to $1,000 of protection for damage to property of others caused by an insured. Others may include a smaller amount of protection or exclude it entirely. At claim time though, $1,000 isn’t much coverage considering the price of horses and the cost of veterinary care these days. Also, all of these policies exclude claims arising from business activities, as mentioned above.

The Solution!

Obtaining the proper liability protection is essential for anyone who is planning to board horses that don’t belong to them. Not only should it include adequate protection for Bodily Injury and Property Damage, it should also be properly endorsed to include coverage for injury or death to non-owned horses in the Care, Custody or Control of the insured. The cost of a policy which includes these essential protections starts out around $500 – $600 per year. In addition to a relatively small premium cost, many insurance companies offer low-cost installment options, which make it possible to cash-flow your premiums in conjunction with your boarding income. Finally, obtaining a quote and purchasing the coverage is quick and easy.  In some cases may even be completed all in one day, although it generally takes a little longer.

When considering this post, please keep in mind that no two scenarios are identical. This is just a general overview of some of the risks associated with relying on homeowners insurance to cover your boarding exposures. For coverage advice, please consult directly with an Equine Insurance Specialists representative. You may reach us at (800) 723-9414 or by email at info@insureyourhorse.com. Visit us online at insureyourhorse.com and on Facebook.

Why Do Liability Releases Sometimes Fail? (Part 1)

“Releases are not worth the paper they’re written on.” We hear statements like this all the time. Is this really true? Generally speaking, no. What is true, however, is that releases of liability (also called “waivers”) are probably the most misunderstood contracts in the entire horse industry. (more…)

Why Do Liability Releases Sometimes Fail? (Part 2)

“Releases are not worth the paper they’re written on.” We hear statements like this all the time. Is this really true? Generally speaking, no. What is true, however, is that releases of liability (also called “waivers”) are probably the most misunderstood contracts in the entire horse industry. Part one of this two-part series explored the three main reasons why releases of liability have been known to fail over the years. This part, which concludes the series, offers some simple suggestions to help those who use releases make them more likely to be enforced. (more…)

Do You Understand Your Equine Insurance? (Part 2)

When it comes to equine-related insurance, misconceptions have plagued the horse industry for years. Most people do not understand what they bought, what they need, whether they have the coverage they think they do, and how to keep their coverage intact. Insurance is an important and expensive purchase. Part One of this series explored some common misconceptions regarding equine-related insurance. Part Two, the conclusion, addresses misconceptions and provides practical suggestions for avoiding misunderstandings and disputes. (more…)

Do You Understand Your Equine Insurance? (Part 1)

When it comes to equine-related insurance, misconceptions have plagued the horse industry for years. Most people do not understand what they bought, what they need, whether they have the coverage they think they do, and how to keep their coverage intact. Insurance is a very important purchase. With so much at stake, can you really afford to relay on misunderstandings? (more…)

Achieving Positive Trainer / Customer Relationships

What do horse trainers and automobile mechanics have in common? Nothing. Cars can be fixed, but some horses seem virtually impossible to break. Mechanics usually can estimate the time and cost needed to restore a car to good performance, but few horse trainers can estimate how much time it will take to turn a horse into a polished performance prospect. have you ever heard of a “six month/6,000 mile warranty” from a horse trainer? (more…)

Myths About Releases or Waivers

In the horse industry, misunderstandings and myths abound regarding important legal topics. This three-part series of articles explores some common myths in the horse industry. Part one discussed the equine liability acts, part two discussed insurance, part three, the conclusion of the series, will discuss releases of liability. (more…)

Myths About Equine-Related Insurance

In the horse industry, misunderstandings and myths abound regarding important legal topics. This three-part series of articles explores some common myths in the horse industry. Part one discussed the equine liability acts, part two discusses insurance, and part three will discuss releases of liability. (more…)