Why Every Horse Owner Should Consider Insurance – A Comprehensive Guide

Most horse owners have more than a financial investment in their horses, often with strong emotional bonds. This is why the right insurance policy is so important. Independent insurance agents can help you find the best equine coverage. They’ll cut through the jargon and clarify the fine print to ensure you understand your options.

Peace of Mind

The right horse insurance policy will give you peace of mind that you can afford the expensive veterinary care your horses might need. This can save you a lot of stress if your horses get sick or are injured. Insurance can also help if your horse is stolen or dies unexpectedly. It can also provide liability coverage in case someone gets hurt while riding or working with your horses, and this is especially important for people who run boarding and breeding farms or offer pony parties, trail rides, or other services on their property. When securing mortality insurance, make sure to establish the value of your horses using several factors such as purchase price, bloodlines, training costs, show records, and breeding records if you’re looking to buy a stallion. This can save you from making the heartbreaking decision to put down a beloved pet due to financial limitations.

Relieves Stress

Horses are built to run away from danger, but living part of their lives in stalls and depending on humans for nutrition and training causes them stress that they would not experience in the wild. Over time, this can affect their health and performance. Signs of stress include pawing, swishing tails, chewing the bit, and explosive reactions. Recognizing these signs in your horses is important to treat them before the issue escalates.

An equine insurance policy can help you rest easier at night, knowing the risks are covered. Whether it is a limited mortality policy for colic surgery or liability coverage in case your horse kicks a passerby, having the peace of mind that comes with these policies is priceless.

Covers Medical Expenses

As a horse owner, you invest a lot of money into your animal. The right equine insurance can help ease the financial burden of an accident or illness. A full mortality policy will reimburse you for the value of your horse if it dies, but additional coverage is also available. Most companies offer major medical/surgical and loss-of-use policies. These policies generally have flat fees based on the coverage limit, deductible and other details specific to each approach. You will need to substantiate your horse’s value when insuring it, and you may have to pay for certain treatments out of pocket if the company doesn’t approve them, such as alternative therapies and some dental procedures.

Covers Property Damage

Million-dollar racehorses, Olympic-caliber sport horses, and elite breeding stallions should be insured. These horses represent years of investment and effort, so the annual premiums are a small price to pay if they get injured or die unexpectedly. Most insurance companies will require owners to substantiate the value of their horse(s), but doing this beforehand can save time and frustration later during a stressful claim process. Insurance policies also usually offer loss-of-use coverage, which reimburses boarding expenses and care costs when a covered horse cannot be used in a discipline due to an accident.

Insurance can be a vital financial tool for anyone who owns and operates an equine business. While it can’t replace the emotional connection with a beloved pet, it can help ease the stress should the unthinkable happen.

Covers Liability

Unlike homeowner’s policies, horse insurance typically covers liability associated with horse use. Whether riding a friend’s horse, transporting him to a competition or event or even using the horse in a business setting, having proper liability protects the owner from financial ruin should something go wrong. Most horses are insured with a mortality policy that determines the value of a horse (which is established by more than just purchase price). Only once a basic mortality policy has been purchased can other coverages like loss-of-use or major medical coverage be added. These coverages provide for reasonable and customary veterinary expenses should your horse become injured or ill. This can be very helpful in preventing you from making a difficult decision, such as euthanasia, due to finances.