Do you run horse shows, offer riding lessons, or operate horse riding camps? Here's a guide on accident and health insurance for horse-related businesses.
Approximately 30 million people ride horses every year in the United States. More serious injuries result from horseback riding than from riding motorcycles.
When you own a horse business, your insurance needs can be greater than the average business. Did you know that if you ride a horse that is owned by someone else and an accident happens, you may be personally liable?
That is where accident and health insurance for horse-related businesses from pomi can help. Read on to learn everything you need to know about this very important supplemental insurance.
The Risks of Owning a Horse-Related Business
Even the most basic form of the horse business can leave you open to liability. The medical bills if someone is kicked by a horse can be considerable. As the owner of a business, you need to consider the risk of medical injury to yourself, your employees, volunteers and your clients.
Your insurance needs will vary depending on the type of horse business you run.
- Property Insurance—covers the property, barn, other buildings, and equipment your business owns
- Liability Insurance—covers litigation and other areas of horse business ownership
- Horse Trainer Professional Insurance—protects you from legal action in your professional capacity
- Equine Major Medical Insurance—health insurance for horses
- Equine Mortality and/or Loss of Use Insurance—reimbursement for loss of a horse due to injury or death resulting in loss of income
- Commercial Auto Insurance—if you use your automobile and/or trailer your horses for business purposes
- Workman’s Compensation—most states require if you have any employees or workers injured when performing job duties
- Traditional Health Insurance—not required but a benefit that may attract employees
- Accident and Health Insurance—a supplement to offset the out-of-pocket medical costs for participants and volunteers injured
Equine businesses are one of the highest risk businesses for personal injuries. Providing riders and volunteers with the best level of accident and health insurance can help protect both you and them.
When a rider or volunteer suffers injuries they can benefit from this additional coverage. It will provide them with benefits above and beyond standard health care by covering expenses their health insurance does not.
Injuries Typical at Horse-Related Businesses
No matter how carefully you run your business, horses are unpredictable and accidents happen. According to NEISS Data, there were 43,469 injuries as a result of horseback riding in 2019.
A rider may get onto a horse beyond their skill level, resulting in them being thrown. Horses can become spooked by an unforeseen event, and throw even an experienced rider. Riders and volunteers may slip and fall on an unmarked wet surface, trip over an obstruction such as bales of hay, buckets, pitchforks, and more.
These injuries may result in medical care costs. This is where having an accident and health insurance policy can be very beneficial.
Filing a claim with your standard general liability policy may result in higher premiums. Instead, file a claim with your accident and health care supplement and keep your costs down.
Cause of Riding Injuries
According to The Horse, falling is the cause of 80% of personal injury. Even the best-trained horses are unpredictable. Because of their large size, they may unintentionally cause harm to a person.
An Australian survey found horseback riding the 3rd highest activity for children's hospitalization. For adults, it was the 4th highest activity.
When in the saddle, your head is 8-10 feet off the ground and the force of a fall may result in trauma.
Head injuries are the number one cause of death in horse-related injuries. About 20% of riders suffer head injuries and, of those, 56.3% are soft tissue injuries and 33.4% are concussions.
What is Accident and Health Insurance for Horse-Related Businesses?
A health and accident insurance supplement will help protect both you and your riders and volunteers. Riders and volunteers will have “peace of mind” knowing an injury will be covered, and won’t leave them open to out of pocket expenses. You will have “peace of mind” knowing your accident and health plan from pomi will chip in should an injury occur and, in turn, help keep your expenses down.
As the owner of a horse-related business, there is the potential for injury. 80% of small business owners acknowledge the risk of accidents at their place of business. This risk increases when you own a horse business.
Insurance Supplement Brings Peace of Mind
When you have accident and health insurance for horse-related businesses you have protection against filing injury claims on your general liability coverage. Filing a claim against your standard coverage will likely result in an increase in your premium. So a competitive, supplemental accident and health policy can be a huge advantage in this risky horse industry.
Contact us today to find out about one of the best accident and health insurance coverages available.