Need Help Finding A NYS Admitted Carrier For An HO3 Risk W/Horses

[Dudley76]

Hey Folks,

My client is currently with Lloyds and wants to bind with a NYS admitted carrier. She owns a 1300 sq ft home w/ a detached barn in Suffolk County, NY, owns a horse, and also rents 3 other barn slots for 3 other horses owned by her friends.

I've tried my local agencies (rejected) and a national agency that specializes in hard to place risks. We were turned down there due to the minimum dwelling value not being $300K (even higher for admitted carriers).

Can anyone point me in the right direction to a carrier that may consider taking on this risk? Thanks in advance.

 

[Sales71]

Re: Need Help Finding A NYS Admitted Carrier For An HO3 Risk W/Ho

That sound life a hard one since the renting of the slots is consider a business..have him stay with Lloyds of londen.

 

[Guest]

Re: Need Help Finding A NYS Admitted Carrier For An HO3 Risk W/Ho

Is Farm Bureau in your state? They specialize in horse properties

 

[Dudley76]

Re: Need Help Finding A NYS Admitted Carrier For An HO3 Risk W/Ho

Is Farm Bureau in your state? They specialize in horse properties

Doesn't appear to be. But thanks for the lead.

 

[ShannonO]

What many of my clients do is keep the home and barn & personal liability insured on their homeowners policy but purchase a separate commercial equine policy for the business liability portion. Most homeowners companies will not write an Insured that is boarding other people's horses as that is a business exposure which generally means you have people riding & handling horses on your property - higher exposure. In Idaho, Farm Bureau will not write the commercial liability exposure in this situation so I imagine they would not in NY either.

Depending on how the boarding operation is set up, the pricing is generally under $1,000 per year. I can refer you to a couple of brokerages that you can contact for this risk - email me at [email protected]

Thanks,
Shannon

 

[jhplat5685]

Dudley,

I am close the LI area. All my admitted will not write in Suffolk because of the coastal issue. It's almost impossible to place business in that area. Try to find out from local agents who will write in that area cause I am still not sure either.

 

[dizzy]

Try Farm Family they specilize in that type of thing www.farmfamily.com I think horses cows etc ..

 

[AmericanAsset]

I can help you.

Feel free to give me a call at 888-643-7436.

Brady

 

[Digemame]

Narragansett Bay . Insure the home first then worry about the business of the equine.