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Articles

Farm and Equine Insurance


2019/05/02


By Wood Stevens, American National Insurance

Presentation at Hall’s Feed & Seed Horse Owners Workshop

Most consumers comment, “I hate insurance; it’s so confusing and I don’t understand all these terms.”  Insurance in its simplest form is: we sell money.  For example, if you get into an accident and someone is injured and sues you, how much money would you like the insurance company to bring to the table to protect your income and assets?  Another example, your home burned down, how much money would you want the insurance company to bring you to rebuild your home or replace items in your home?

But, not all insurance is the same. 

Today we are here to talk about Farm and Equine exposures.  These are unique exposures and require attention to detail. What is great about our policies is they can be customized for the horse owner and/or a horse operation.  We are able to write the residence and business operation through one policy.  We have five divisions of coverage that can be customized.

1.Residence and Household Contents
2.Building and Building Contents (barns, farm structures with stalls, feeders, waterers, silos, sheds, arena footings, etc.)
3.Farm Personal Property (livestock, farm machinery, farm products and supplies, tack and horse equipment, hay)
4.Schedule Personal Property (e.g., jewelry)
5.Liability (injury and property damage, incidental equestrian professional liability, business liability, medical payments); Optional (livestock boarding, farm employee, care, custody and control of livestock, non-owned tack and horse equipment, etc.)

Personal horse vs. Professional horse operation

When you charge for a service, it becomes a business.  Personal homeowner policies exclude business activities.

If you just board your own horse, an incidental farm endorsement might be enough to provide you the liability you need. Check with you agent to see if you have this coverage.

Our policy can be designed to protect only the things that you need protected.

Boarding       Breeding        Training
Lessons shows / events – concessions stand, bleachers
Day Camps   Polo Clubs     Pony Rides
Carriage, Wagon rides        Horse buying and selling

We provide liability on and off premises, such as at horseshows.
 
Teachers and trainers need their own liability if they do not work exclusively for you because you don’t want to get sued unless the trainer is acting only on your behalf.

We provide care custody and control on and off premises.  This is important if you haul horses for hire.
Overall, we can customize a program that fits your needs so that you can protect what you value most.

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