As we all know, insurance companies are in the business of taking your money for a certain promise to pay and then trying to worm their way out on ANY technicality.

How can you be sure that the personal umbrella you have for your home and auto will cover the horse exposure that we have? The first thing to do is call your agent or broker or company if you have a direct writer like GEICO. Ask the questions and insist that the answer be in writing to you. If you are told for instance that your horse liability will be covered on the homeowner both on ad off premises make sure that it is also covered under your personal umbrella as well. Umbrellas are separate contracts with certain exclusions which differ from company to company.

If you are engaged in some commercial type exposures e.g. boarding a horse on your property even without compensation, this could be an out for personal coverage and a denial for same after the dreaded claim. For a very small sum, a person would be foolish not to insure the commercial exposure. Even the barn that the boarder is in could be eliminated from coverage as a commercial structure. I wouldn't worry about that so much as a liability claim. A barn could always be rebuilt, but your life savings are another matter.

You should review personal umbrella policies to see if you are adequately covered. The cost for a 2,000.000 umbrella does not double the premium.

If you don't have a personal umbrella you should consider one. It will cover liability for autos, homes, boats and any other liability considered personal. Most companies will write an umbrella provided they have the auto but a stand alone is obtainable, however, the cost is almost double that of a supported one.

Know why they call it an umbrella? Because it covers over the other coverages.

 
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