Horses and money

[theoldchick]

This was mostly directed at @Peaches Lee ...

Ooops!

 

[ShrekDawg]

Ooops! 

I thought your advice was reasonable too

 

[abigalerose]

I thought your advice was reasonable too

Sorry, didn't mean to be rude, it was too! I just hadn't got around to reading your entire post yet

 

[dainerra]

x2 in addition to you future, it could also cost your grandparents their future and even their farm...

I know you keep repeating that your clients are all 'reasonable' and would never sue, but repeating it does not make it so, it only takes one exception or change of heart...

you also need to remember that if a client is seriously injured, the decisions may not be up to them but to their family who may NOT be so reasonable and understanding. Also, if a horse were to get sick or injuried in some way that will have longterm consequences, again the owner might be less understanding.
Did you know that if one of your clients so much as twists an ankle walking in your driveway that you are legally responsible for their medical bills? It doesn't need to be related to the horses at all! And if they seek medical attention and it is in the medical transcripts that they were injured on your property, their medical insurance can decide to sue your grandparents. The client would have no say in the matter.

 

[bantamrooster]

you also need to remember that if a client is seriously injured, the decisions may not be up to them but to their family who may NOT be so reasonable and understanding.   Also, if a horse were to get sick or injuried in some way that will have longterm consequences, again the owner might be less understanding.   
Did you know that if one of your clients so much as twists an ankle walking in your driveway that you are legally responsible for their medical bills?  It doesn't need to be related to the horses at all!    And if they seek medical attention and it is in the medical transcripts that they were injured on your property, their medical insurance can decide to sue your grandparents.    The client would have no say in the matter.

I believe i saw somewhere that the op is in missouri?
I work at a show horse/ training barn in mo. As far as an injury to a person at your barn the owner is not liable per mo law.
http://www.moga.mo.gov/mostatutes/stathtml/53700003251.HTML

As far as a horse injury or death. At this barn the horse owner has to carry insurance on their horse for it to be on the property. These are show horses so all owners already carry their own insurance anyways.
Missouri has a lot of protection for barn owners and trainers. However my boss still carries insurance and has a lawyer as all buisness owners need to.

 

[dainerra]

Another factor you'll have to consider is theft. People can try to case your farm by pretending to be potential clients. Or simply go over at night because they know that you are boarding horses to see if you have anything worth stealing or simply because there is a belief that if you are working with horses, you are making money.
What steps have you taken to prevent this type of situation?
Another factor, does your county require permits, business licenses, or other paperwork before operating a business like this?
How about your grandparent's homeowners insurance? Even if something unrelated to the clients/horses/etc were to happen, did you know that the insurance company can refuse to pay? That could leave your grandparents on the hook for a lot of expensive home repairs or even with no way to rebuild the house if it's a total loss.
This can also come about in the way I talked about in the previous post. If someone is injured on your property and seeks medical attention, a common tactic of their health insurance is to go after your grandparent's homeowners insurance to repay them for the bill. All it takes is one person somewhere along the line to mention that you are boarding horses for others and getting paid and VIOLA! your grandparents get a letter saying that their insurance premiums are drastically increased or even that the policy has been cancelled.

 

[dainerra]

I believe i saw somewhere that the op is in missouri?
I work at a show horse/ training barn in mo. As far as an injury to a person at your barn the owner is not liable per mo law.
http://www.moga.mo.gov/mostatutes/stathtml/53700003251.HTML

As far as a horse injury or death. At this barn the horse owner has to carry insurance on their horse for it to be on the property. These are show horses so all owners already carry their own insurance anyways.
Missouri has a lot of protection for barn owners and trainers.

Many states have similar laws. However, that doesn't protect you if the person in injured in a way not involved with the horses.
Also, the insurance of the horse owners you mention, in case of theft or death of the horse, will still sue the barn owner to recoup some or all of their money. Remember, insurance exists to not have to pay money.

To be covered under the MO law, there must be specific signage displayed as well. Failure to have it negates your protection under the law.

 

[bantamrooster]

Many states have similar laws.  However, that doesn't protect you if the person in injured in a way not involved with the horses.    
Also, the insurance of the horse owners you mention, in case of theft or death of the horse, will still sue the barn owner to recoup some or all of their money.   Remember, insurance exists to not have to pay money.

To be covered under the MO law, there must be specific signage displayed as well.   Failure to have it negates your protection under the law.

Lol i know the signs. We have a couple here. First thing you see as you walk in. First thing i saw when i applied for this job. I know what it covers and doesnt because im at risk of injury every day here.
Back to the OPs idea of a stud horse. Bad bad idea. Those can flat out kill you. Most of the time they are fine but it only takes one little bad situation to get ugly fast. We will not board them any more because of the craziness they case to the whole barn.
I agree with you about the insur. companies and sue happy people are just as bad. The info was just info to the op and to others that worry about injury suits to the op.
Like i said my boss still does carry insurance and has a lawyer. You really just have to in todays world.
I think the op is gonna have a lot to worry about. Just an idea to her about the injuries issues in this state. To me thats kinda the least of her worries to be successful.

 

[bantamrooster]

To the op.
What is your real goal with this?
A lot of people do make money with horses and in different ways.
But a lot more have grand ideas that they cant make work.
Its like everything else for every success story theres a hundred or more failures.
The stud horse idea imo isnt a good option for many reasons. Imo that is something you really do have to have money to make money with.

Really what is your goal? Is it just a love of horses and want to work around them and make a living? An ego thing where you want to become known as a top trainer or something? Doing your own thing instead of working for someone else? Do you want to get rich doing something you love or just rich?

 

[ShrekDawg]

Sorry, didn't mean to be rude, it was too! I just hadn't got around to reading your entire post yet

I'm sure they understood!