Business Insurance for Horseback Riding Instructors
Horseback riding instructors need business insurance.
With insurance, your business can mitigate liability for physical injuries, property damage, and financial losses.
For example, a new client sues after falling off a horse, alleging the horse was unfit for training purposes. Luckily, there is insurance to provide ways of countering that situation.
We’ll help you find the most personalized and affordable coverage for your unique business.
Recommended: Next Insurance is dedicated to matching small businesses with the right policy at the best price.
Best Insurance for a Horseback Riding Instructors
General liability insurance is — generally speaking — one of the most important insurance policies for horse riding lessons businesses.
Some of the risks general liability insurance covers are:
- Bodily injury
- Property damage
- Medical payments
- Legal defense and judgment
- Personal and advertising injury
While general liability insurance can cover a broad range of risks, it may not provide coverage for all the potential risks faced by your horseback instruction business. In such cases, you may need to consider obtaining specialized policies that offer coverage for specific types of risks, such as:
- Equine Liability Insurance: This type of insurance is specifically designed to cover damages and injuries caused by horses. It provides coverage for accidents that occur while riding or handling horses, as well as any damage that horses may cause to property.
- Care, Custody, and Control (CCC) Insurance: A policy of this kind covers the loss of, or damage to, horses that are in the care, custody, or control of the business. It can provide coverage for things like theft, injury, or death of horses that are owned by third parties and are in the care of the business.
- Business income coverage: This type of insurance provides coverage for losses sustained by the business due to an interruption in operations. It can provide compensation for lost income, rent, or other expenses incurred while the business is unable to operate due to a covered event, such as a fire or natural disaster.
There are two principal types of insurance providers available to you when looking for coverage for your business:
- Traditional brick-and-mortar insurers
- Online insurers
We encourage small businesses to consider online insurers like Tivly or Next as they offer an excellent, affordable way of accessing high-quality, personalized insurance.
Let's Find the Coverage You Need
The best insurers design exactly the coverage you need at the most affordable price.
Cost Of General Liability Insurance
On average, horseback riding instructors in America spend between $300 - $700 per year for $1 million in general liability coverage.
Compare the average cost of general liability insurance for a pressure washing business to other professional industries using the graph below.
Several factors will determine the price of your policy. These include your:
- Location
- Deductible
- Number of employees
- Per-occurrence limit
- General aggregate limit
You may be able to acquire general liability insurance at a discounted rate by purchasing it as part of a business owner’s policy (BOP) rather than as a standalone policy.
A BOP is a more comprehensive solution that includes multiple forms of coverage, such as business interruption and property insurance.
Find the Best Rate
Discover the best coverage at the lowest rate in our cheapest business insurance review.
Common Situations That General Liability Insurance May Cover For A Horseback Riding Instructors
Example 1: One of your horses gets loose from the stable and a vehicle hits it, causing extensive damage. The owner of the vehicle is seeking payment for damages and has named your company in a lawsuit. General liability insurance should cover the cost to repair or replace their vehicle, personal injury claims stemming from the lawsuit, and your legal expenses.
Example 2: One of your client’s horses suffers an injury during a lesson and they are blaming your business for the incident. The business owner can turn to their general liability policy for damages awarded by the courts.
Example 3: Your employee was overheard at a dinner party insulting the other horseback riding lessons business in town. They are suing your company for defamation of character, claiming their business has suffered as a result.
Other Types Of Coverage Horseback Riding Instructors Need
While general liability is the most important type of insurance to have, there are several other forms of coverage you should be aware of. Below are some of the most common types of coverage:
Professional Liability Insurance
Both humans and horses are unpredictable, leaving much room for unexpected incidents. If a client claims your company did not deliver the agreed upon services, they could hold you liable. Professional liability insurance offers protection against these claims.
Due to the significant liability exposure, businesses should address any potential coverage gaps with their insurance professional and inquire if a policy is claims-based or occurrence-based.
Workers Compensation Insurance
The above policies cover your assets and clients, but not your employees. The state requires carrying workers compensation insurance for staff, which covers medical bills and lost wages if they experience an on-the-job injury or illness. Due to a higher risk for injury, business owners should carry coverage limits higher than their state’s legal minimum requirements.
Workers compensation is generally purchased as a standalone policy.
Commercial Auto Insurance
This business venture will likely take you on the road from time-to-time. When you use a vehicle for business purposes, insurance carriers require a commercial auto policy, excluding business-related accidents on a personal auto policy. This policy covers damage to your auto, as well as other damaged vehicles and injured parties, should you cause an accident. Most states regulate the minimum coverage required, leaving many underinsured and exposed to potential lawsuits. Your insurance professional can assist in determining the best coverage limits for your needs.
You can purchase commercial auto insurance as part of a business owners’ policy (BOP) or as a standalone policy.
Commercial Umbrella Liability Insurance
There are so many factors that are out of your control. Horseback riding lessons businesses can add another layer of protection against liability claims with a commercial umbrella policy. This policy picks up if you exhaust the underlying general liability policy limits.
Additional Steps To Protect Your Business
Although it’s easy (and essential) to invest in business insurance, it shouldn’t be your only defense.
Here are several things you can do to better protect your bounce house business:
- Use legally robust contracts and other business documents. (We offer free templates for some of the most common legal forms.)
- Set up an LLC or corporation to protect your personal assets. (Visit our step-by-step guides to learn how to form an LLC or corporation in your state.)
- Stay up to date with business licensing.
- Maintain your corporate veil.
FAQ
Yes, absolutely. You will need to first get a quote from an online business insurance provider like Next Insurance. Next allows you to then purchase a policy immediately and your coverage will be active within 48 hours.
A typical business owner’s policy includes general liability, business interruption, and commercial property insurance. However, BOPs are often customizable, so your agent may recommend adding professional liability, commercial auto, or other types of coverage to your package depending on your company’s needs.
"Business insurance" is a generic term used to describe many different types of coverage a business may need. General liability insurance, on the other hand, is a specific type of coverage that business owners need to protect their assets.
Yes. It makes sense to put business insurance protection in place as soon as is feasible. Many of the risks you’ll encounter when doing business, you are likely to face before trading actually commences. Moreover, some types of coverage, commercial auto insurance, for example, are required by law to be present even though you may not have commenced business.
Not necessarily. Certain exceptions may be written directly into your horseback riding lessons business insurance policy, and some perils may be entirely uninsurable.
Yes, an LLC is meant to create a legal barrier between your business and your personal assets and credit. If you haven’t formed an LLC yet, use our Form an LLC guide to get started.
An LLC doesn’t protect your business assets from lawsuits and liability– that’s where business insurance comes in. Business insurance helps protect your business from liability and risk.