Draftmare, when your parents ask, make sure they state the value of things (particularly the saddle) and not just ‘saddle’. If you have a nice, expensive saddle, basic homeowners may still leave you out $$ if you need to replace it.
I had a rider added on my homeowners to cover my pricy dressage saddle as I knew I’d not be able to afford a replacement for it if something happened to it (and basic homeowners coverage wouldn’t have paid enough).
[QUOTE=Draftmare;9006815]
I am having parents check with ours/see what I need to do to make sure my stuff is covered. I am living in one of my parent’s rental houses and we have never really talked about what would happen if the house burned down. And now this incident has me thinking long and hard about what would happen if the barn burned down with all of my valuable tack in it. :eek:[/QUOTE]
Since I get the impression that you are over 18, and living by yourself in your parent’s rental, I would get my own renter’s insurance.
It’s fairly inexpensive and will save you a lot of heartache when you find out that since you are (presumably) an adult who owns their own stuff, you aren’t covered by the policy on the structure.
I have checked several times over the years, and my homeowners & renters policies have always covered tack and equipment, even the stuff worth a couple thousand.
Draftmare, I agree with red mares, I think it is likely that you should obtain your own renters’ insurance policy.
This thread is a great PSA for boarders. In general, you own it, you insure it. Boarding barns do not typically have any coverage that protects the belongings of their clients.
This thread is also a great PSA for BOs. It is a good idea to let clients know up front that anything they store at the barn is stored at their own risk. I think it is wise to encourage your clients to make sure any valuable saddles/bridles are insured through their renters’ or homeowners’ insurance policy. It also doesn’t hurt to encourage your clients to store some of their items in a locked trunk and to be careful about what they choose to store at the barn.
Many farms do maintain a Care, Custody and Control insurance policy that would protect them if a horse was injured due to negligence in their care, however, that insurance policy does not cover above the value of the animal in question. So, depending on an owner’s preference, it does often also make sense to obtain major medical insurance on horses.
I think you should get your own renter’s policy. They are not very expensive, and depending on what company you use for other things like auto, you may save some money by going with the same company. The policies generally cover your belongings no matter where it is…travel, in someone else’s car, etc. If there is some other policy that may apply, such as your friend’s auto insurance or any insurance carried by the BO, then you’d still file a claim with your insurance, but they may seek to be reimbursed from the other person’s insurance carrier.
I’ve repeatedly asked my HO company (used the same when I was renting) about expensive sporting equipment. They don’t require a separate policy on those, no matter how expensive. You just need to be able to substantiate the value. They only require separate policies on luxury items like jewelry, furs, art, and sometimes electronics if you want better coverage than what the standard policy would give you for electronics. But, every policy is different and it doesn’t hurt to tell them, so I’ve got $XXXX in sporting equipment, do I need a specific rider for that?
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