Owning horses can be an incredibly fun hobby, as well as a business, that allows you to spend a great deal of time with these intelligent and beautiful animals. However, there are some basics about equine law that every horse lover should be aware of.


1. Understand what liability signs mean

You may be required to post a liability sign that provides notification regarding the use of your facility, but doing so doesn't totally absolve you of liability. Even if a visitor to your property is injured due to their failure to comply, you still need to have the proper insurance. Having these postings doesn't prevent you from being sued.


2. Obtain the right insurance for your property...

Don't make the same mistake that so many other equine facility owners do and assume that your homeowner's insurance is enough to cover your business. Homeowner's insurance is designed to cover just that: your home. If you run a business out of your home, such as a riding school, you need to have separate business insurance to cover any incidents.


3. ...and your horses

Good horses can cost a great deal of money. Insuring your horse against illness, death or injury may help you recoup your investment in the event that the unexpected happens. You should also consider insuring a horse that you've trained whose market value is considerable.


4. Make sure everything is in writing

While it used to be that a person's handshake and word was good enough to seal a deal, the reality is that times have changed. Any kind of transaction that involves the exchange of money and/or items should have a written agreement that is signed by all parties. Making an installment plan to buy or sell a horse is a classic example of something that should be put in writing. The contract should outline the frequency and amount of payments as well as what happens if the horse is injured, falls ill or dies before being paid for. Stipulations for missed payments should also be outlined.


Equine law can be complex and confusing. rb LEGAL is well versed in its nuances and can provide advice. Contact our team today for more information or to set up a time to talk further through your questions.