If you consistently read Equus Education, you’ll know I have a passion for equine passive income. I have touched on the topic of equine insurance before. But today I wanted to consider the idea of equine insurance and passive income.
Passive income or residual income is earned by a product that you create once and are able to sell over and over again. An example? A horse book. Once it is written and published, it can continue to earn money over the years without needing to be written again.
Equine Insurance and Passive Income
I believe equine insurance could work in this regard for those with the right knowledge and qualifications. If you have a background in insurance and know horses, then you can create products in the form of equine insurance packages. Insurance for stallions, competition horses, broodmares, young stock, etc. The insurance is your product. People pay a regular low fee (monthly or annually for example) for their horse/s to be insured.
Yes, if there is a claim you will have to pay. But for the majority of clients that you acquire, there won’t be claims. And so you’ll be generating regular passive income from people paying for their equine insurance.
If you wanted to make it truly passive so that you’re not doing any ongoing work, you create the packages and then hire people to market them and process payments. Equine insurance and passive income, what do you think?
Your services would be of interest to competitors, racehorse owners, bloodstock owners and even those who own horses for pleasure riding. You could also branch out into looking at horse business insurance. This could be for horse riding instructors, liability insurance and more.
“Horses make a landscape look beautiful.” ― Alice Walker
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