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- - How much do you pay for liability insurance? (Interested in IL rates particularly) (http://www.horseforum.com/horse-law/how-much-do-you-pay-liability-150316/)
How much do you pay for liability insurance? (Interested in IL rates particularly)
Hi, I realize that it is highly variable based on where you are/your specific situation, however, I am trying to get an idea as to what the rate is for liability insurance as an owner who is leasing a property from someone else.
I am most interested in IL rates, however I am curious what others in different areas pay per year.
If you're just a private owner (not teaching, training, etc.) then you might be covered for any damages/injuries your horse causes by regular old renter's insurance. I know my renter's insurance covered me/my horse for liability, and now my homeowner's does as well, even though my horse is kept at a boarding stable. If you already have renter's insurance, call them up and ask.
Why not call a few insurance agents and get a price?
Let them know all the details, find out what's covered, and more importantly, find out what's not covered.
california rates are high. it also depends on what is offered , boarding , training, jumping, cattle, dogs around, tractors and who uses them, what the pens are made of, who cleans any workers, care custody and control in case of the horse dies, how many horses owned by yourself or others, value of horses, for minimum coverage over 100 a month for boarding only and no workers.
I currently have insurance on both of my horses, and each horse is approximately $306 a year to insure including tack insurance. They both have the following coverage:
Two million Comprehensive personal liability (each)
Full medical/surgical (colic) insurance up to $10,000
Full mortality (death reimbursement) coverage
Tack coverage upto $4,000 replacement value.
My claim deductible on the policy is $300, and I live in Eastern Ontario.
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