Since they are at your home, I would talk to your agent about a farm type policy with liability coverage so that the whole thing is in one. I personally have just gone with $1M/$2m coverage. If some one gets hurt it the amounts you are talking about won't do much if they sue. I worry about numerous things, but say they get out, and someone hits them and gets killed. That will cost you more and a couple hundred thousand. In fact, for that there may not BE enough. Also depends upon your state. SOme states have equine risk laws, others don't. I worry less when mine are in VA, which has the laws to curb the suits, as opposed to NY, where there are none.

 

Thanks Frank. I think that I was a little unclear. I am looking at coverage of $1m/$2m. The $250 or so was the annual premium. This seems well worth the peace of mind so I am going to go ahead and purchase something. It just doesn't seem like there is much on which to differentiate the plans that are available.

 

Thanks Frank. I think that I was a little unclear. I am looking at coverage of $1m/$2m. The $250 or so was the annual premium. This seems well worth the peace of mind so I am going to go ahead and purchase something. It just doesn't seem like there is much on which to differentiate the plans that are available.

What state are you in ? and what insurance company did you find with premiums of $250.00 a year !! I want that insurance ! I am in CA. and have only found policies with that premium per month !:shock:

 

That seems to be the typical coverage and average price.

 

What is liability insurance commonly asked question What Is Liability Insurance
Liability insurance policies cover both legal costs and any legal payouts for which the insured would be responsible if found legally liable. Intentional damage and contractual liabilities are typically not covered in these types of policies.

Read more:
What Is Liability Insurance

 

Premiums very widely on what you are insuring, and how you use your horse/property. Obviously a lesson barn will be greatly more expensive than my horse at someone elses farm.

 

Assuming you currently have homeowner's insurance, call them and ask if the liability portion of it covers horses. Many policies are written to generically cover damage/injuries caused by any animal owned by the policy holder, whether they are on or off the insured property.

As long as you're not running any kind of horse-related business (you're not boarding other people's horses at your property, training, etc.) you may not need to purchase additional insurance at all.

 

^^^^ Agreed. For our needs, our homeowner's coverage of 300K is fine.
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