When people think about horse insurance, they generally think about insuring the horse itself, and the potential liability the horse may cause to others. And that’s usually as far as they go. They forget about a major asset in their equestrian lifestyle; the tack, from brushes to saddles and shipping boots.
Your Homeowners policy might cover your tack, but with limitations. All personal property is subject to the covered perils, exclusions and deductible under a Homeowners policy. If you don’t own a home or condo, and you don’t carry renter’s insurance, you don’t have any protection for your tack.
If you’re like me, you’ve been collecting brushes, halters, bridles and even saddles for years. Since it has been so long since you purchased that bridle or saddle, you’re probably not thinking about how much it would cost if they were ruined by mold (a Homeowners exclusion) or stolen.
You’re probably thinking you could go down to the nearest tack store or tack consignment shop and pick up a replacement. Well, saddles are running anywhere from $300 to $10,000. What type of saddle do you use? Does it fit your horse just right, and you too? Finding that right fit again will probably cost a lot more than $300.
Maybe you’re one of the lucky ones with a custom made saddle, custom to your horse and you. It wasn’t a small thing to have that saddle commissioned. Don’t be fooled thinking someone wouldn’t steal it because it’s custom or that your tack room is secure. I’ve heard of robberies of CWD saddles from locked tack rooms in the past year, and the thieves have yet to be caught. It’s hard to track down stolen tack because they don’t have microchips or serial numbers.
So, now that I’ve made you reconsider that combo lock on your tack room door, you are asking what can you do if it were to happen to you? Simple, you can get a scheduled tack insurance policy. Here’s how:
- Make a list of all your equipment from your smallest items (hoof pick) to larger items (saddle(s)).
- List the price to replace the item (this works for the brushes, wraps, shipping boots, etc.) or the purchase price (best for saddles, bridles, harnesses, driving carriage, etc.)
- Call your insurance agent and ask for a quote.
You have taken care of insuring your horse and yourself (with the Private Horse Owner Liability policy), now it’s time to take care of the rest of the items that make it possible to enjoy your equestrian life.
Disclaimer: The above content is a general overview which is provided for discussion purposes only and is not in any way meant as providing recommendations or legal counsel. It is not intended to apply to each circumstance. Because the facts and circumstances of every matter differ and the terms, conditions, exclusions and limitations contained in insurance policies vary, you should review your policy carefully and seek any legal counsel that may be necessary or appropriate. Momentous is not responsible for any losses or damage resulting from reliance on the information contained herein. If you would like to further discuss the issues raised here, you may contact Christina DiSalvo by phone 818-933-2700 or email: firstname.lastname@example.org.