Horse Insurance-What You Need To Know
Horses are beautiful animals, and they can add a lot of value to your property if you have the land to accommodate them and take care of them properly. However, most horse owners don’t realize how much liability their horses add to their property until something goes wrong and they experience the consequences of that liability firsthand. There are many different kinds of insurance policies that you should consider purchasing if you own horses, but your first step should be taking out an insurance policy on the actual animals themselves.
What Does Horse Insurance Cover?
Horse insurance covers two major categories. The first is mortality, which is basically a life insurance policy on your horse. This is the basic standard of horse insurance and is required for all horse insurance policies. The other major category, which is optional, is veterinarian care which includes x-rays, therapy, colic care, disability and other services that fall under sickness and accident. If a horse is sick or hurt and needs to be treated by a veterinarian, he/she should be able to do so without having to take money out of their own pocket. Because if your horse cannot perform due to an injury or illness then you will likely lose money on that animal. So let your insurance company pay for it!
Mortality- A stated amount based on either the cost of purchase, or if you can justify that your horse is worth more, the horse can be covered for a higher value.
Medical and Surgical- Coverage is offered from $5,000 to $10,000 and can be basic or more extensive in coverage
Loss of Use- When signing up for insurance you can choose what your use is for your horse. If the horse is unable to be used for this specific use, loss of use will apply.
Stallion Permanent Disability- You can insure your stallion for disability caused by impotence, infertility, or an inability to service mares.
Worldwide Transit- Includes transit outside of the US. Many use this coverage when importing their horse from another country.
Barrenness/Prospective Foal- Provides coverage for a mare that cannot get pregnant, or if pregnant provides coverage that she produces a live foal.
Is There A Deductible?
If your equine or other animals are injured, veterinary care can get expensive quickly. The last thing you want is to pay for expenses out of pocket and then be left with a high deductible on your horse insurance. Most horse policies do have a deductible but it’s typically not very high. It’s better to have some coverage than none at all—which is why deductibles are offered. They allow your insurance to be less expensive by incorporating deductibles in their policies.