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AN EDUCATED CONSUMER
We want everyone involved in the horse industry either for business or pleasure to know the insurance coverages and options they have and when to take a risk or to self insure.
Not to say we should ignore the consequences of our actions but that we should protect ourselves as best we can. With open minds after we evaluate the position we are in.
It is important to realize that there are options available to reduce costs when insuring your horse. If you cannot afford to insure for full value then decide how much you want to take on your self and insure for the value you can pay for. It is like taking a high deductible on your car insurance. Sometimes it pays to do this so you can get the options like surgical and major medical. You can always insure your horse for less than the full value.
The one thing you might not want to fool with is liability. When in doubt, take coverage. Even minimums of $100,000 of liability can save you time, money, aggravation and worry because your insurance company will defend you in an action for which the policy covers and that is the expensive part.
If you give lessons once in a while or don't charge a friend or relative for board, you have a liability and you must cover yourself for it. You may even find out the cost is not too bad. Quotes cost just an email, phone call or a stamp.
We live in a society that sues at the drop of a hat. For example:
Your horse gets away and a "GOOD SAMARITAN" stops him but gets hurt in the process. The next thing you know,egged on by his friends and relatives, a summons is handed to you. You didn't ask for it but there is is... Your liability!
If you would like to contact us, need additional information or have questions, please feel free to email us. |
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