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Subject: Mounted search and rescue
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- From: "IRVIN LICHTENSTEIN" <ilichten1@verizon.net>
- To: "'Mounted search and rescue'" <msar-riders@lists.ibiblio.org>
- Subject: Re: [MSAR] Insurance
- Date: Sun, 11 May 2008 22:00:16 -0500
Agreed value is just that—a value in
dollars you and the insurance company agree on as opposed to market value
(which is usually auction value). For a pleasure horse the vet’s
assessment or the statement of an assessor is used, for a race horse it is
earnings. I currently pay the minimum premium, approximately $300 per
year. If he was insured for more the percentage would drop until it was about
2% of value. The primary horse liability policy, $500,000 per instance is
about $150 per year, the next million is $41 per year through the state equine
council. Since the SAR is a 501(c)(3) costs associated with membership
and responses are deductible. The medical insurance for
the horse will not pay for the same service more than once in 2 years.
Example: a wire cut requiring veterinary services for repair will, when
reported, mean that another injury in the same area will not be covered for the
next insurance year. And it is a surgical policy, no shots or routine
care is covered. VFIS insures all our gear at replacement
cost if it is stolen or destroyed by accident, but not for disappearance.
They also provide $1,000,000 in public liability, officers and directors
coverage, a treasurer’s bond, secondary vehicle liability (they cover the
organization if a member has an accident on official business), official acts
(command decisions), and some other things. They will also pay up to
$50,000 if we break or damage something we borrowed for a job, like a Gator or
a rental truck. This costs us approximately $900 per year. We are
hoping to add an accidental death and disability policy but it is around $1400
per year and will grow with medical costs and member count. Workman’s comp is required by law in
PA but emergency volunteers in fire, The public safety officer death benefit
also applies to our members, $266,000 federal and $156,000 Pennsylvania lump
sum payment plus Pennsylvania guarantees a four year college education to all
surviving children if there is a line of duty death, whether by trauma or by
heart attack within 24 hours of going off duty. Yes, you can grow insurance poor. My
horse is probably also covered by the barn’s care and custody and their workman’s
comp should he do something untoward or run loose. Being a self employed
consultant I carry horse insurance because I cannot afford the loss of any
assets. What is really amazing is that bicyclists do not have to carry
liability insurance, even though they are operating a vehicle under Irv Lichtenstein From:
msar-riders-bounces@lists.ibiblio.org
[mailto:msar-riders-bounces@lists.ibiblio.org] On Behalf Of Karen Nesbitt |
-
[MSAR] Insurance,
Karen Nesbitt, 05/11/2008
- Re: [MSAR] Insurance, IRVIN LICHTENSTEIN, 05/11/2008
- <Possible follow-up(s)>
-
[MSAR] insurance,
Susan J. Duke, 05/12/2008
- [MSAR] Comments not personally directed, Una Smith, 05/13/2008
- Re: [MSAR] insurance, IRVIN LICHTENSTEIN, 05/13/2008
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