Understanding Insurable Interest in Horse Insurance Policies: Leases, Horses on Trial, Purchases over TimeThursday, September 21, 2023
Categories: Broadstone Equine
Understanding Insurable Interest in Horse Insurance Policies
Leases, Horses on Trial, Purchases over Time
The concept of insurable interest is a common topic in equine insurance, especially when clients are working on insuring a horse that they lease, are taking on trial, or are purchasing over time. Basically for a party to have an insurable interest in a horse, they would need to be at risk for suffering a financial hardship in the event of damage or loss of that insured horse. In the case of a horse that is owned 100% by one party, insurable interest is a pretty straightforward concept. Following are some scenarios where this can be a little more complicated.