Deciding whether or not to insure your horse can be a difficult decision. You may not think your horse is very valuable, or that insurance will be too much of an added cost on top of the other expenses that come with horse ownership. However, when it comes to protecting your assets (and a horse is an asset), there’s more to consider than just the market value of your horse, or whether or not you want to pay it. Whether your horse is a top competitor at the Tryon International Equestrian Center or your kids’ favorite pet to ride in the yard, you may find after careful research that you can’t afford to NOT insure.
The Value of Your Horse’s Replacement
You may think that equestrian insurance is something only those with very expensive horses ($50K+) would consider. However, replacing a horse that costs only $10,000 can seem insurmountable if you’re also working to pay your mortgage and fund your kids’ college. The important question to ask yourself is, “If I lost my horse tomorrow, could I afford to replace it?” If the answer is “no,” then you may be putting yourself at risk by not purchasing protection. (more…)
Business insurance, like all insurance, can seem overwhelming and often costly. You don’t want to pay for too much coverage but you certainly don’t want to end up underinsured either. So whether you are starting a new business or just re-evaluating your current plan, you’ll need to understand your risk and the policies that are available to cover it.
Carefully consider your business services, your employees and clients. There are many variables to consider such as the type of business you own, the state in which you live, if you have employees or not and the structure of your business – a corporation or LLC. Many business owners believe that the protection provided by their business structure sometimes eliminates the need for business insurance.
However, while company structure can protect your personal assets, it does not protect the business itself. Your insurance needs will obviously be dictated, in part, by North Carolina state regulations which will determine basic insurance requirements; among the commonly required policies are NC business insurance and North Carolina workers’ compensation. However, it’s important to keep in mind that these insurance components may not be enough. North Carolina business insurance packages can include a combination of any of the following coverage options: (more…)