Equine Law Blog

Common Myths Regarding Equine Insurance - Part 2 of 3

Relying on myths and failing to read your insurance policies can lead to costly mistakes.  This series explores 15 of the most common myths surrounding equine-related insurance.  Check out myths 1-5 in my post from last week.  Let's review myths 6-9 here:

6) “When The Time Comes to Notify the Company That Issued My Mortality Insurance Policy, I'll Just Call My Insurance Agent.”

Giving notice to the wrong person or entity could be treated the same as giving no notice at all.  The agent who sold you the insurance might not the right one to call when you have a claim.  When your horse’s condition takes a turn for the worse, make sure that you have quick access to the right telephone number.

7) “I Have Been Sued for Negligently Caring for a Horse that I Board in My Barn, But My Equine Business Liability Insurance Should Cover This.”

Commercial general insurance policies would cover a stable in this scenario if the stable bought extra insurance commonly known as a “care, custody, and control” endorsement.

8) “My Equine Business Liability Insurance Covers the Same Thing as Workers' Compensation Insurance.”

Commercial general liability policies almost always exclude injuries to your employees while they are on the job.  It takes a policy of worker’s compensation insurance to cover these incidents.

9) “My Horse Went Lame After I Bought a Mortality Insurance Policy, But I Can Renew the Policy Next Year Without a Veterinary Examination.”

The typical mortality policy requires a Statement of Health or veterinary exam before renewal.  If you believe otherwise, make sure your policy clearly specifies this.

Conclusion

Don’t fall prey to myths.  Make sure you are protected.

Categories: Insurance, Liability