FRIDAY, SEPTEMBER 23, 2022
Making significant financial commitments for horses can include high levels of risk. Like any other business investment, these animals must be protected and insured, but unlike many types of inventory or property, using horses for business purposes may be subject to various additional hazards, such as disease and injury.
Fortunately, the agents at Cornerstone Insurance Services have the experience and expertise to help clients in the Swea City area acquire the right equine insurance.
How Does Equine Insurance Work?
Utilizing horses for business purposes carries significant potential for losses and damages. Given how expensive purchasing and caring for these animals may be, equine insurance is necessary to insure your business against various risks. By paying a monthly premium, your coverage can insulate you from losses from incidents, such as if a horse is harmed, injures a third party or your business suffers property damage.
What Does Equine Insurance Cover?
Horse-related businesses must consider various types of insurance to protect themselves from the many risks and hazards that inherently exist within their operations. In general, your company should consider the following coverages: 
- Equine liability—This coverage can provide critical financial assistance if a third party sues your business for bodily injury or property damage from horse-related activities.
- Premises liability—This coverage may help cover costs if a visitor or client suffers an injury while visiting your premises.
- Commercial property—This coverage protects your business from losses and damages to property you use to operate, such as barns, stables and equipment
- Care, custody or control coverage—This coverage can help cover costs for lawsuits arising from someone else’s horse being injured while in your care.
- Equine mortality coverage—This coverage can render aid if a horse is stolen or dies. A major medical expense endorsement can also be added to help cover costs associated with veterinary expenses, such as treating illnesses and surgery.
Additional coverages may also be recommended depending on your business’s specific operations. For example, commercial auto and cyber liability policies may be necessary if you regularly utilize automobiles or rely on technology.
How Much Does Equine Insurance Cost?
Like most insurance expenses, the cost of coverage for horse-related businesses may vary. In general, providers will likely consider the following criteria of your company:
- The assessed value of horses
- Policy details (e.g., deductibles, coverage limits)
Get the Right Coverage
Operating an equine business can be rewarding and lucrative, but it can also be risky and volatile. Horses may be significant and unpredictable investments, and also carry many inherent risks for businesses, owners, riders and visitors. Without an adequate insurance portfolio, even a single kick, slip, bite or other incident could lead to irreparable financial losses.
The experts at Cornerstone Insurance Services are here to help. Our agents will help your business assess its insurance needs and acquire ideal coverage. Contact us today to get started.
*Major Medical Coverage is an addition to the Full Mortality policy and cannot be purchased alone.
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