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Your shoeing rig is one of your most valuable assets. It’s important to be sure your vehicle insurance covers the replacement cost of your rig and that the contents are also insured against, loss, damage or theft.
With a potentially high-risk career in an industry many insurance carriers know little about, it can be difficult for farriers to make sure they are properly covered.
Insurance is vital to a farrier. The process of setting up an insurance package may seem daunting and the cost may tempt you to go without it. It’s not a good idea, though. Your career and livelihood could very well be at stake.
Some important insurance coverages for farriers include liability, disability and auto. When setting up the policies you should think about every aspect of your business. Think about your work and all the elements involved. If you have employees, or plan to take them on in the near future, you’ll have additional insurance and workers’ compensation issues.
Finally, once you have set up your insurance package, you need to determine how to factor this cost into your prices.
The most valuable tool when setting up your insurance plan is a frank conversation with your broker or agent. Chris Van Leeuwen of Stratus Insurance in Pleasant Grove, Utah, says a dialogue can help both parties better understand what needs to be accomplished as well as clarifying subject matter.
“It would be just like going to the insurance agent and telling him…