Horse And Dog Racetrack Insurance Policy Information
Horse And Dog Racetrack Insurance. Greyhound (dog) racing and horse racing are two extraordinary competitive sports that simultaneously offer a popular pastime for people who like a gamble.
Horse or dog racetracks are designed for competitive races of animals. The racetrack may be open-air or covered. Seating is generally stadium-style or in bleachers, although some permit visitors to stand directly outside the track perimeter.
A stage may be added to the field accommodate concerts or speakers. Operations generally include betting that is regulated by the state where the racetrack is located. Racetracks usually have restaurants and bars to encourage patrons to stay and enjoy an afternoon or evening.
There may also be gift shops, locker rooms for jockeys, and stables or kennels for boarding animals. Racetracks can often hold hundreds or thousands of patrons.
While greyhounds compete in dog racing, motivated by a fast-paced lure, preparing the dogs for races is a full-time profession for their trainers. Horse racing, meanwhile, relies on the jockeys as well as the horses being in top shape.
In both cases, the competing athletes have the aim of being the fastest and first to reach the finish line, while racing around elliptical race tracks.
So much attention is paid to dog and horse racing that it is easy to forget about the race tracks themselves - but owning and running greyhound or equestrian race tracks is no easy task.
The presence of large numbers of spectators as well as valuable animals highlights just two kinds of risks a horse or dog race track might be faced with.
What types of horse and dog racetrack insurance might these animal tracks need to protect their financial health even if they are impacted by a serious peril? Get more information in this brief guide.
Horse and dog racetrack insurance protects animal tracks and operations from lawsuits with rates as low as $87/mo. Get a fast quote and your certificate of insurance now.
Below are some answers to commonly asked animal track insurance questions:
- What Is Horse And Dog Racetrack Insurance?
- How Much Does Horse And Dog Racetrack Insurance Cost?
- Why Do Horse And Dog Racetracks Need Insurance?
- What Type Of Insurance Do Horse And Dog Racetracks Need?
- What Does Horse And Dog Racetrack Insurance Cover & Pay For?
What Is Horse And Dog Racetrack Insurance?
Horse and dog racetrack insurance refers to insurance policies that are designed specifically for equine and canine racing facilities and events. These policies provide coverage for a variety of risks associated with horse and dog racing, including:
- Accidents and injuries to horses, dogs, jockeys, trainers, and other participants.
- Liabilities related to property damage or injury to spectators or third-party bystanders.
- Cancellation or postponement of races due to inclement weather or other factors.
- Legal expenses and liability claims related to gambling operations or betting activities.
The coverage provided by horse and dog racetrack insurance may vary based on the specific policy and the insurance company offering the coverage. It is important for racetrack owners and operators to work with an insurance professional to assess their risks and determine the most appropriate coverage for their needs.
How Much Does Horse And Dog Racetrack Insurance Cost?
The average price of a standard $1,000,000/$2,000,000 General Liability Insurance policy for small horse and dog racetracks ranges from $87 to $109 per month based on location, size, revenue, claims history and more.
Why Do Horse And Dog Racetracks Need Insurance?
As is the case for any other commercial venture, horse and dog race tracks have to take a multitude of hazards into consideration.
While management will do everything in its power to take precautions to minimize the risks, horse and dog racing tracks may still fall victim to universal as well as industry-specific perils.
A horse or dog racing track could, for example, be impacted by an act of nature - like an earthquake or a wildfire. Nothing can be done to prevent natural disasters, and business owners cannot do much to reduce the risk of severe damage, either.
Criminal acts like (cyber) theft and vandalism, which in its most severe form includes arson, are other realistic threats. On the more mundane side, expensive equipment essential to the operation of your races may suddenly break down and require urgent repair or replacement.
Liability risks fall into a whole category of their own, and almost anyone could sue a horse or dog racing track for almost any reason. An employee might become injured at work. A third party might make an allegation that a race you hosted was rigged. Animals and jockeys may sustain traumas, followed by claims that faulty track maintenance played a role.
Comprehensive horse and dog racetrack insurance may not cover all the costs associated with these and other perils, but it will certainly greatly reduce your financial burden, thus offering you a chance to recover from the disaster more quickly and successfully.
What Type Of Insurance Do Horse And Dog Racetracks Need?
Your specific insurance needs do not only depend on whether you own and run a dog or a horse racing track, but also on factors such as the size and capacity of your facility, your amenities, and your number of employees.
The location of your race track is also important, not just because required insure types vary from one jurisdiction to the next, but also due to climate and terrain.
Because there is no such thing as a ready-made insurance plan that meets the needs of all businesses, you are advised to talk to a commercial insurance broker familiar with your branch of commerce. With that in mind, some of the more important kinds of horse and dog racetrack insurance that are important:
- Commercial Property: This form of coverage protects your property - meaning your physical structure, outdoor assets, and smaller assets such as seating and computers - in the event that it is affected by perils such as fire, theft, or vandalism. It will cover a significant portion of your repair and replacement costs.
- Commercial General Liability: If your racing track has to go to court due to a third party property damage or bodily injury claim, this kind of horse and dog racetrack insurance will help you cover the legal expenses that follow, including medical bills and settlement fees. Horse racing tracks should further be aware that specialized equine liability insurance policies exist, to cover cases where horses are injured on your premises and it is alleged that you were to blame.
- Workers' Compensation: If an employee were to suffer a work-related injury, this type of insurance compensates them for their medical costs as well as any work absences that arise from the injury.
These are just a few examples of the kinds of horse and dog racetrack insurance policies animals tracks will require to protect their assets from perils. To discover more about your individual needs, consult a commercial insurance agent.
Horse And Dog Racetrack's Risks & Exposures
Premises liability exposure is high due to the large numbers of visitors on premises and the presence of animals. The racetrack should meet all public and life safety codes to assure guest safety.
All spectator access must be strictly limited with effective barriers restricting access to the animals. Good housekeeping is critical to preventing trips, slips, and falls. Adequate lighting, marked exits and egress are mandatory.
Steps must have handrails, be well-lit, marked, and in good repair. Parking areas should be well maintained and free of snow and ice. Security at events, as well as in the building, corridors, and any owned parking area needs to be carefully checked and reviewed.
There should be an evacuation plan for emergencies. The racetrack may present an attractive nuisance hazard when not in use. There must be adequate security to prevent unauthorized entry to children, vandals, animal rights protesters, or would-be terrorists.
Contracts with suppliers, vendors, event planners and performers must be clear as to all responsibilities. Personal injury losses may occur due to alleged assault, discrimination, invasion of privacy, or wrongful removal.
Products liability exposure can be high if the racetrack operates the restaurants or snack bars. Employees should be trained in the proper handling of consumables to prevent foreign objects in food, food poisoning, or the spread of other transmissible diseases.
Other product liability exposures can arise from gift shops. If these are contracted out, the racetrack should verify that the operators have adequate liability coverage.
Environmental impairment exposures are high from the possible pollution of air, nearby land or groundwater from the odorous gases and wastes from racing animals. The owner must comply with all applicable federal and state requirements.
Professional exposures may be high if veterinarian or breeding services are offered. High-earning racehorses may be very expensive, resulting in a large loss should an animal be improperly diagnosed or treated. The use or misuse of medications or inoculations can result in an animal becoming ineligible for racing.
Liquor liability exposure can be extensive. All servers must be trained in checking IDs and refusing to serve intoxicated patrons. There should be a "cut-off" time well before the end of the races to prevent visitors from excessive alcohol consumption prior to driving home.
Workers compensation exposure is extensive due to the handling of animals and the large amounts of money that exchange hands. Handling animals can result in workers being kicked, bitten, trampled, stepped on, or exposed to bloodborne pathogens.
Workers can also be exposed to back injuries or a hernia from lifting, foreign objects in the eye, and slips and falls from spills and inadequate housekeeping. Employees may be exposed to noxious odors from animal waste. Food preparation operations can result in cuts, scrapes, and burns.
Grounds maintenance, cleaning, and general maintenance operations can result in lung, eye or skin irritations and reactions. Employees who set up, build, or transport stage settings, equipment, lighting, and scenery may be injured by cuts, puncture wounds, electrical shocks and burns, slips and falls, or back injuries, hernias, strains and sprains from lifting or working from awkward positions.
Stage and lighting setup may involve aboveground exposures that need additional protection and precautions to prevent employees from falling and from being hit by falling objects. Hawkers, peddlers, and vendors employed by the racetrack to sell wares in the stands have high potential to falls due to limited visibility as they ascend and descend steps while carrying items to sell.
Adequate security and training must be provided to employees handling money in ticket and betting booths, gift shops, and concession stands to reduce the possibility of injury due to holdups. Security personnel may suffer injury not only from theft but also from unruly patrons.
Property exposures are high. Extensive electrical wiring for lighting, sound systems, and other electronic equipment must be in good repair and adequate for the equipment used. Event performers will often bring their own equipment that must be fitted into the electrical system provided by the racetrack. Circuit breakers and/or fuses must not be able to be overridden.
Hay, straw, or feed in the stables are highly combustible. Electrical fixtures should be dust and moisture proof. Equipment and machinery used for grounds maintenance should be stored in a building separate from the stable. Temperamental actions of animals may result in damage to the building or personal property.
All cooking equipment in restaurants must be properly controlled. Smoking is permitted at most tracks so disposal of cigarettes should be a major concern. Poor housekeeping could contribute significantly to a loss.
Racetracks may be a target for theft and vandalism. Appropriate security controls must be taken including physical barriers such as fences or gates, lighting to deter access to the premises after hours, and an alarm system that reports directly to a central station or the police department.
Business income loss and extra expense may be high due to the unavailability of backup facilities.
Equipment breakdown exposure may be high due to the heating and air conditioning systems, cooking equipment, electrical control panels, and lighting and sound equipment used for racing events. Breakdown and loss of use could result in a significant loss, both direct and under time element, if replacements parts are unavailable or repair time is lengthy.
Crime exposure is from employee dishonesty and money and securities. Employee dishonesty coverage should be extended to include volunteers. Background checks should be conducted on all employees and volunteers handling money. Employees who are in charge of ordering must not be the same who handle disbursements and billings. Frequent inventories and audits must be conducted for adequate monitoring.
Betting is usually done with cash, which can accumulate quickly. Money should be stripped regularly from cashiers' drawers. All monies should be double counted and balanced, and cashiers must be held accountable for shortages.
There should be a centrally located, locked cash room with a guard on hand to protect the employees and money. The gaming commission of the state monitors any gambling activities extensively due to tax implications.
Inland marine exposures are from accounts receivable if the racetrack bills customers, audio-visual equipment, computers, contractors' equipment, and valuable papers and records for contracts. Duplicates should be kept of all data for easy restoration.
Contractors' equipment will be needed for grounds and building maintenance. Bailees customers coverage may be needed if the racetrack offers coat check or is responsible for jockey gear, the horses or dogs, equipment of the animal owners, or property of visiting entertainers.
Business auto exposure is generally limited to hired non-owned for employees running errands. It there is the transportation of guests, performers, officials, or visitors, or the use of vehicles, the exposure increases.
If there are owned vehicles, they must be maintained on a regular basis with all service documented. MVRs must be ordered regularly on all drivers. If valet service is offered, garagekeepers coverage will be needed.
What Does Horse And Dog Racetrack Insurance Cover & Pay For?
Horse and dog racetracks can be sued for a variety of reasons, including injuries to jockeys or animals, property damage, and allegations of negligence. Insurance can help protect racetracks by providing coverage for these types of claims. Here are some examples of potential lawsuits and how insurance can help:
Injury to a jockey: If a jockey is injured while racing, they may sue the racetrack for negligence. This could include claims that the track did not maintain a safe surface or did not adequately train staff. Insurance coverage for liability can help cover the costs of a lawsuit, including legal fees and damages awarded to the injured party.
Animal injury or death: Horse and dog races can be dangerous for the animals involved. If an animal is injured or dies during a race, the owner may sue the racetrack for negligence. Insurance coverage for animal mortality and liability can help pay for damages and legal fees associated with the lawsuit.
Property damage: Horse and dog racetracks are often large facilities with many structures and equipment. If a fire or natural disaster damages the property, the racetrack may need to file a claim with their insurance company to cover the cost of repairs or replacement.
Allegations of negligence: In some cases, racetracks may be sued for alleged negligence in their operations. For example, if a track fails to adequately screen and test horses for performance-enhancing drugs, they may be sued for allowing unfair competition. Insurance coverage for general liability can help cover legal costs and damages associated with these types of lawsuits.
Overall, insurance can be an important tool for protecting horse and dog racetracks from the financial risks associated with lawsuits. By providing coverage for liability, property damage, and other types of claims, insurance can help ensure that racetracks can continue to operate safely and effectively.
Commercial Insurance And Business Industry Classification
- SIC CODE: 7948 Racing, Including Track Operation
- NAICS CODE: 711212 Racetracks
- Suggested Workers Compensation Code(s): 8279 Racetrack Operation - Horse or Dog - Stable Hands or Kennel Employees & Drivers, 8720 Inspection of Risks for Insurance or Valuation Purposes NOC, 8810 Clerical Office Employees NOC, 9016 Amusement Park or Exhibition Operation & Drivers
Description for 7948: Racing, Including Track Operation
Division I: Services | Major Group 79: Amusement And Recreation Services | Industry Group 794: Commercial Sports
7948 Racing, Including Track Operation: Promoters and participants in racing activities, including racetrack operators, operators of racing stables, jockeys, racehorse trainers, and race car owners and operators.
- Dog racing
- Dragstrip operation
- Horses, race: training
- Horses, racing of
- Jockeys, horse racing
- Motorcycle racing
- Race car drivers and owners
- Racetrack operation: e.g. horse, dog, auto
- Racing stables, operation of
- Speedway operation
- Stock car racing
- Training racehorses
Horse And Dog Racetrack Insurance - The Bottom Line
To protect your animal track, employees and spectators, having the right horse and dog racetrack insurance coverage is essential. To learn what types of coverage options are available to you, how much coverage you should invest in and the related costs - speak to a reputable commercial insurance broker.
Additional Resources For Arts & Recreation Insurance
Read up on small business arts and recreation commercial insurance.
- Amusement Parks
- Archery Ranges
- Athletic Fields
- Billiard And Pool Halls
- Bowling Alleys
- Cave Tours
- Dance Studio
- Disc Jockey DJ
- Drive-In Theaters
- Entertainers And Performers
- Event Planning
- Fairs And Fairgrounds
- Film Production
- Fine Art
- Guides & Outfitters
- Handball & Racquetball Courts
- Horse & Dog Racetracks
- Indoor Sports Complexes
- Interior Decorator
- Interior Design
- Motorsports Racetracks
- Photo Booth
- Recording Studio
- Recreation Centers
- Riding Stables
- Roller Sakting Rinks
- Shooting Ranges
- Skeet & Trap Shooting Ranges
- Ski Resorts
- Talent Agency
- Tennis Centers
- Video Arcades
- Wedding And Special Event
- Specialty Arts And Antiques
- Specialty Clubs And Leisure Time Activities
- Specialty Entertainment
The arts and recreation industry is a vital part of our society and culture, providing entertainment and enjoyment for people of all ages. However, as with any business, there are inherent risks and potential liabilities that can arise. This is where insurance comes into play.
One of the main reasons the arts and recreation industry needs insurance is to protect against financial losses due to accidents or injuries. For example, if a performer is injured while rehearsing or performing, their medical bills and lost wages could be significant. Without insurance, the cost of these expenses could potentially bankrupt a small arts organization.
In addition to protecting against accidents and injuries, business insurance can also cover damages or losses due to weather events, natural disasters, and other unexpected circumstances. For example, if a theater is forced to cancel a performance due to a power outage or extreme weather, insurance can help cover lost income and expenses.
Another important aspect of commercial insurance for the arts and recreation industry is liability coverage. This type of insurance can protect against legal claims and lawsuits if someone is injured or becomes ill while attending an event or using facilities. For example, if a patron slips and falls at a theater, they may file a lawsuit against the venue for damages. Liability insurance can help cover the costs of legal fees and any settlement or judgement.
Overall, the arts and recreation industry needs insurance to protect against financial losses and legal liabilities that can arise in the course of business. Without commercial insurance, small arts organizations and recreational facilities could be vulnerable to financial ruin in the face of unexpected events or accidents.
Minimum recommended small business insurance coverage: Business Income with Extra Expense, Employee Dishonesty, Money and Securities, Accounts Receivable, Commercial Articles Floater, Computers, Valuable Papers and Records, General Liability, Employee Benefits Liability, Umbrella Liability, Hired and Non-owned Auto Liability & Workers Compensation.
Other commercial insurance policies to consider: Building, Bailees Customers Floater, Money and Securities, Cyber Liability, Employment-related Practices Liability, Business Auto Liability and Physical Damage and Stop Gap Liability.