If you own horses, cattle or other large animals, you may wonder whether umbrella insurance will protect you if someone on your property is injured. The good news is that it will, in most circumstances. Here is how Harrison Insurance and Financials LTD, serving Hailey, ID, can help you determine your needs.
How an Umbrella Policy Can Protect You
If you have a small farm or property that houses livestock, keeping your livestock and visitors safe is a prime priority. Yet, accidents can happen. If an animal injures someone on your property, you will most likely receive coverage. In these scenarios, umbrella coverage kicks in after other insurance policies have reached their limit.
When considering horses and other livestock, if you use them for personal pleasure, such as occasional riding, your homeowners or farm insurance policy should protect you. However, if one or more of yur animals breaks free from your property and causes injuries or damage, your umbrella policy may come into play to cover medical bills, legal fees and more. Umbrella policies can save you from financial ruin when claims run into millions of dollars.
Provisions for Exotic Animals
If you own a large reptile, a wolf hybrid or a predator cat, the rules change. To get umbrella insurance, you musrt have Exotic Animal Liability Insurance before you buy an umbrella policy. Standard carriers will not insure these types of animals.
Also watch for insurance pitfalls if you make money off your animals. If you engage in activities such as horse riding lessons or otherwise make a profit, you must have a commercial umbrella policy.
When you own large animals in Hailey, ID, buying umbrella insurance can give you an extra layer of protection. Contact the experts at Harrison Insurance and Financials LTD to learn more about this essential protection.
