Why Horse Owners Need Liability Insurance

Everybody loves horses and while ownership is it feasible for everyone, buying a horse is a dream come true for many people. In addition to "living the dream" of having a horse to ride, many owners also involve their animals in therapy programs or even train them to be race or show horses.

Owning a horse isn't like owning a dog or a cat, though. Horses are very large, fast and can be difficult to control. As a result, there is often a real risk of the horse may inadvertently injure someone or damage property. This is particularly true because horses are attractive to many people and it is not unusual for friends or even strangers to carelessly approach a horse and startle the animal.

Property risks of owning a horse are also significant. A horse may escape and trample a neighbor's fence or other property. There's also the possibility of a horse getting out into a road and causing a car accident.

In situations where your horse is party to an injury or property damage, you may be held financially liable not only for things like repairs and medical expenses, but also potentially for other damages such as the injured party's emotional distress or having to take time off work. In addition to these costs, you will also have to arrange for legal representation which can be very time-consuming and expensive.

To prevent suffering from severe financial losses, purchasing equine liability insurance may be in your best interest. This type of insurance, which is sold by specialty insurance agencies such as Ark International group, specifically covers you, the horse owner, from damages caused by your horse. A good general liability policy offers coverage for things like medical expenses as well as the cost of a settlement or judgment. In addition, the policy will also cover the cost of hiring an attorney to represent your legal interests.

Your horse should be a source of pride, love and fun for you and your family. You can protect your relationship with your horse, along with your financial health, by making sure that you have the right insurance product for your situation.