03-11-2013, 06:57 PM
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I would recommend at least 2 million in liabillity. When I ran a 20 horse operation with 30 weekly lesson students, I had 1 million in liability, and that was 15 - 20 years ago. Talking to an agent about your business plan is an excellent idea. If you're going to have schooling shows, outside instructors, clinics, people hauling in or other things that increase your exposure you may need more coverage.
Do also consider requiring your boarders to cover their horses with a basic full mortality piolicy and keep it in force. It is cheap peace mind for you, and will likely lower the rate of your liability policy.
And yes, depending on your area, boarding is usually a break even or losing proposition, with the money being made in lessons, training, hauling, coaching at shows, clipping etc.
Something else to consider - if you have people working in exchange for rent or board or whatever, they are still employees and will still need to be covered under Worker's Comp. You can't have someone working around horses and farm equipment not covered by Worker's Comp, and no reputable agent will write any kind of liability policy it that is your situation.