Your Yard Insurance Questions Answered
Running a livery yard can be a commercial venture or provide supplementary income to support your equestrian hobby. Whichever side of the line you fall, it is imperative that you have the right level of insurance cover to protect your investment in the event of claim. Shearwater's equine liability experts answer some key questions around livery yard insurance, stables insurance and what cover you need.
Do I need a specific livery yard insurance policy?
When running a business such as a livery yard the material damage cover does not differ, i.e. the buildings themselves and contents. However, insuring an equestrian property as a livery yard, we can offer additional benefits including Money Cover & Assault and Business Interruption Cover which would compensate for loss of profits caused by an insurable peril.
The main difference is liability. Many clients believe that having DIY Liveries does not count as having a livery yard, or in some cases having ‘a friend’ keep their horse with them for free. However, if that horse escaped and caused any third-party property damage because a gate was left open who would be liable? Livery yard liability can cover you for such circumstances. This could also cover if members of the public go up to a fence and stroke a horse that subsequently bites them. No amount of disclaimers can prevent you being held liable if the livery or member of public can prove that you were negligent in some way. Additionally, Property Owners Liability is included within Livery Yard Liability which protects you against instances where members of the general public were injured on your land or in or around your buildings. This aspect is also available in isolation for private yards.
Shearwater can also include Care, Custody and Control within your policy which protects you for negligent acts directed towards other people’s horses which resulted in their injury while they are your responsibility including DIY Liveries.
Why use a specific equestrian insurance policy to look after your equestrian property?
Equestrian properties are a niche market and require specific cover to ensure all aspects are protected. A standard household policy is not designed for the non-standard nature of an equestrian property and therefore tends to only offer limited protection. Equestrian policy wording is tailored and designed to take into account that the horses are the main residents of the property. You should also bear in mind that many household insurers will not cover you for all of your equestrian equipment. In the event of items such as show jumps, feed, hay, bedding and tack being damaged or stolen, the financial consequences could be disastrous if adequate cover is not held – not to mention the inconvenience, so by using a specific equestrian insurer you can have peace of mind that all your valuable possessions are protected.
Do I need Employers Liability Insurance?
Employers Liability is a legal requirement if you employ anyone. Whether they are full-time, part-time or even temporary, any business that employs one or more members of staff is required to provide the safest possible working environment. Employers Liability not only offers protection for your employees but protects your business and your own personal investment, be it time or financial, in that business.
Employers Liability policies are designed to offer businesses protection, for compensation and legal costs, in the event of an employee making a claim against them following an accident or injury in the workplace.
Is tack covered in a communal tack room?
As long as the required security elements of individual insurance policies are met, then yes it would be covered. The tack room would need to be locked with a 5-lever mortice lock at the time of the theft. Some tack room policies will also require an alarm system as well.
For your own personal tack it is worth discussing with your household insurance provider whether they can extend cover to tack as well. If you're running a larger yard then it may be worth investing in a tack room insurance policy that can provide cover for the high value contents.