Originally Posted by LizzieE
I do agree with a lot of you in that liability can be a...you know what, but up until now I have only been able to trailer my horse when one of my kind trailer-owning friends was willing to let me use it. I always paid them for gas and $50 bucks every time I used it. I cleaned it out and always told them how much I appreciate it. I am inclined to take to heart some of what Saskia said. It may be risky, but I don't think every person that you lend something to is out to screw you over.
Oh, I agree. The problem is the person that gets hit. Lets say your friend has minimum liability coverage of $25,000. They get involved in a multi car pile up with several personal injury's involved. The insurance only covers $25,000, so the person with several hundred thousand worth of damage is forced to sue.
So, they sue THEIR insurance company (claiming uninsured motor vehicle), as well as the person driving, and the owner of the vehicle and the owner of the trailer.
First thing, now you need a lawyer and he bills by the hour. You see where this is headed don't you? ASK ME HOW I KNOW.
Luckily, I had very good insurance with $500,000 in liability and my insurance company provided the lawyer. I've sense decided to buy a million dollar umbrella policy.
Sorry, been there, done that, wore out the tee shirt.
I don't loan anything that moves on a public road.
Maybe you don't own anything, and have nothing to loose, but your future. Go ahead, be nice.....hope it works out well for you. I know what happens if it doesn't .....