Posted by Tim Sine in: blog Equine

Equine businesses are undoubtedly lucrative ones. From breeding to training and everything in between, this broad market allows plenty of room for those who are passionate about horses to uphold a profitable business. However, part of being a successful business owner is taking risks into consideration. Preparing for these exposures and protecting yourself with a comprehensive MO Equine Insurance Program is your first line of defense against financial ruin and liability. Therefore, read on to discover what these common risks are and how to manage them.

Business and home structure.

Is your ranch being used as a residence or a business?

Most farms and ranches have an owner-occupied dwelling, and often a dwelling or two occupied by tenants or workers, as well. Because this type of agribusiness typically includes some personal property, an investigation identifying the personal exposures and liabilities must be made, states Insurance & Risk Management Knowledge Alliance. For example:

  • Is the property being used as a horse riding and training facility?
  • Are there special items of the property that need separate protection, such as a pool, pond, silage pit, cabins, or airstrips?


Animal and equipment liabilities.

In the event that one of your horses were to escape, do you have the coverage to protect that loss? What if the animal escapes and causes property damage or an accident? Another key factor to consider is protecting the tractors, irrigation equipment, stored food, and other items that are stored on these horse ranches. While destruction or breakdown of this equipment might be rare, the costs to repair them without the proper insurance can devastate a business, especially one who traditionally runs low on cash reserves. Lastly, are the owned horses valuable? If so, discussions should include mortality, medical and surgical, and loss of use; additionally, every insurer uses their own specific policy forms, exclusions, and definitions, explains the article.

While this list is neither exhaustive nor complete, it raises the need to carry excess insurance. Speak with your local and trusted insurance agent today to ensure your entire operation and all of your assets are properly secured.

About Sine Insurance Group

At Sine Insurance Group, we are located on a horse ranch where we raise quality quarter horses. Therefore, our passion translates to the insurance products we provide our customers to ensure they are properly secured. For more information, contact us today at (855) 700-0889.