I am going to put a recommendation in here for the Point 2 Air Vest and I know just how expensive it is because I bought mine a couple months ago. And that meant drastic cuts to my planned show budget, but it was completely worth it.
I have worn safety vests my whole life being a Pony Clubber they are required. I find them so uncomfortable and have settled into wearing the Tipperary, (you can find them on sale at the Crofton Cosignment shop) I happened to luck out and get mine new for $100.
I hate the safety vest and only wear it XC because it is required. And I have fallen although I am pretty good at falling and generally land on my feet (a skill I have practiced to perfection after years of riding naughty ponies and teaching them crazy things like games, polo, eventing). Stop, drop the shoulders and ejection! Now that translated to training OTTB and I have a taste the the "hot" ones, but hey somebody has to love them.
Anyways the air vest is awesome, its light weight, it takes a little while to get used to but then you forget you almost have it on and you have to remind yourself to unclip. If you want a professional recommendation on safety vest particularly the air vest, check out the first pages of Cross Country with Jim Woffard.
I wear my safety vest (air vest) now whenever I jump, even at home. Or when I am riding horses that feel particularly fresh. I wear the air vest at home without the safety vest underneath or out schooling, for eventing you have to wear both if you want to wear the air vest, but it gets too hot and uncomfortable to be a regular thing for me.
It is expensive, but given the alternatives, your spinal cord controls everything in your body from how you walk, to how you breathe and other internal functions. To me it was a small price to pay when I consider the risks that I am taking.
They also have a less expensive versions, the Hit Air Vest, I know one person that has it and loves it. I don't know anything about it so I cannot recommend it.