I've seen policies go both ways. If you want to keep it in your name so that you have control of the policy, that's perfectly acceptable, although I would list the lessee as such on the policy so that the company knows who they are in case of an emergency. I've seen other policies that have the lessee as the named insured but the owner is still listed as a Loss Payee in case of the death of the horse. Normally, either should be acceptable to the insurance company, it's just what you're more comfortable with.
Last edited by drawstraws; Dec. 3, 2012 at 10:54 PM.
It's not about the color of the ribbon but the quality of the ride. Having said that, I'd like the blue one please!
i had insurance on a free lease horse. i purchased the policy, and the way they set it up was that the medical paid out to me (since those bills would be mine), but the mortality paid out to the owner, since i didn't actually own the horse. i would just call your company and ask, most likely they'll just add the lessee's name somehow, and it won't cost you anything.