Equine Business Insurance -- Putting Together the Protection Puzzle
It is no secret that horse professionals face a huge amount of risk every day.
Some of that risk comes from working with animals that are vastly quicker and stronger than we are - the other piece of the risk (and often the more destructive of the two) is the risk that comes from working with people.
Nevertheless, no matter how you slice it - it is the combined power of the two (horses + people) that really bumps up the risk factor for horse professionals.
Some people say you should get insurance because "accidents happen everyday." Clearly, if you are good at what you do, accidents don't happen everyday in your horse business, or you wouldn't be in business at all!
The truth is - "risk happens everyday." But if we do our jobs right, the number of incidents are generally few. Good horse professionals are excellent at anticipating and avoiding physically dangerous situations for both the horses and people in their care.
However, when it comes to insurance, we don't tend to need coverage because of the frequency of incidents, but because of the devastation a single event can cause. We protect ourselves because the financial consequences of an accident, a mistake or an error in judgment can be too great for us to handle on our own
A lot of horse business owners assume that as long as they have liability insurance they are sufficiently protected. Granted, liability may be the largest overall risk category, and it is essential that you have a good policy in place. Nonetheless, liability insurance is just one piece of the protection puzzle.
Horse professionals face daily exposure to risk from a variety of areas. They can become injured themselves or they can be held responsible if one of their clients, workers or horses in their care become injured or injures someone else.
Far too often, horse professionals who only protect themselves against liability end up blindsided by an unrecognized (or underestimated) threat.
Equestrian Professional's next seminar will feature keynote speaker and equine insurance expert, Reed Schroeder, who will focus on helping you identify all the pieces of the protection puzzle. You will learn what types of exposure are faced by different types of horse businesses - what pieces tend to be forgotten, which ones present the most risk, and what your options are for protecting yourself and your business. Every horse business owner's puzzle may fit together a little differently, but it is essential that you have all the pieces!
If you have not signed up for our "Smart Financial Planning Strategies for Horse Professionals" seminar series, we encourage you to Sign up today!
NOTE: If you registered for the first seminar in the series, you do not need to sign up a second time. You will automatically be registered for all three seminars. We will send you reminders and a the link to the seminar page a few days before the seminar and the day of the seminar.
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