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If you are in the market for horse property you probably wonder what type of insurance you need. When it comes to horse insurance there are many choices, and it can be challenging to find the right product for your particular circumstances. Talking to an experienced agent is one way to understand the types of coverage available.
Owning your own property requires insurance coverage to protect you from financial hardship if the worst happens. Additional coverage may be required or recommended, depending on the type of horse property you own. If you plan to purchase acreage to keep your own private horses, you will want to check with your current insurance company. Even though you aren’t in business that doesn’t mean you do not require special coverage. Some areas consider horse farms to be “attractive nuisances.” This is a term that means your property is more likely to invite trouble than another.
This may not seem fair, but once you have your horses at home and see neighbor kids reaching over the fence to play with your horse, or even climbing over the fence to get closer, you will realize the insurance company may have a point. Acknowledging that your property is a horse property is also important in case someone is injured. Even if you are not running a business, there is bound to be a time when a friend wants to let their child pet your horses or something similar. Proper insurance protects you if someone is injured on your property.
If you run a business on your horse property, horse insurance becomes even more important. There are a variety of policies available. The best choice for you depends on the type of business you are running. Someone who is offering boarding will require different insurance coverage than someone who is providing training or riding lessons.
When you are ready to purchase horse insurance, buy from a company with a history of providing coverage for horse farms. Your needs are specialized. If you seek coverage from a company that isn’t experienced in equine insurance you may find you aren’t protected when something happens.