How To Choose The Best Equine Insurance?

If you take good care of your horse and keep him or her in good health, it is actually possible to enjoy fairly reasonable upkeep costs. If your horse gets sick or is injured, you may be surprised with outrageous, astronomical bills that you have no way of meeting. For this reason, the best equine insurance is a very good idea.

In this article, we provide an overview of the different types of equine insurance that are available and provide sound advice on locating the best policy to suit your needs. Read on to learn more.

What Kind Of Horse Insurance Is There?

types of equine insurance

There are six basic types of equine insurance. They are:

1. Major Medical Insurance

It is designed to cover the cost of veterinary diagnostics, as well as expenses related to accident, illness (including things such as Purpura Hemorrhagica, Kissing Spines, Endotoxemia, EPM, Hives, DSLD, fleas) or injury (e.g. medications, surgery and other treatments).

2. Equine Surgical Insurance

It is a little less expensive than major medical and focuses benefits only on costs related to surgery. This type of horse insurance will only cover costs such as anesthesia during surgery and the surgeon’s fee. It will not cover hospital costs, medications and the like.

3. Full Mortality Insurance

This is a companion to surgical insurance or major medical insurance. A full mortality policy is intended to cover the value of your horse if he should die due to accident, illness or injury. It will also cover the value of your horse if he is stolen and you are not able to recover him.

4. Limited Mortality Equine Insurance

This insurance also covers the value of your horse, but not in every eventuality. If your horse dies because of illness or as the result of an accident, this insurance is effective. Limited mortality insurance is not a companion policy. You can purchase it on its own.

5. Equine Insurance For Loss Of Use

It is intended to compensate you if your horse gets sick or is injured and is no longer able to perform his intended function. For example, if you bought your horse for breeding, and he or she becomes ill or injured and is no longer able to be used for breeding, the policy will pay out. This type of policy is quite valuable for working horses and performing horses.

6. Equine Personal Liability Insurance

This protects you in the event someone is injured by your horse. It also helps cover the cost of any property that may be damaged by your horse. You can purchase this sort of insurance on its own, but it’s worth knowing that it may already be included in your homeowner’s insurance policy.

Most Important Considerations In Equine Insurance Comparison

Considerations In Equine Insurance Comparison

When comparing policies and providers, be sure to choose an established, reliable company. Understand all exclusions to coverage, and be sure to choose a policy that genuinely provides ample coverage to meet your needs.

1. Reliability

Avoid fly-by-night insurance companies. Any company you deal with should have been in business for a good, long period of time. A decade in business is long enough to provide a solid track record. Only work with companies that are well known and that have good online reviews and/or verifiable recommendations.

2. Exclusions

Understand what is excluded in your policy. For example, if you have a mature horse, double check to be sure that he will continue to be covered when he passes the age of fifteen. Sometimes, insurance companies will stop covering horses when they age out of the policy.

Additionally, horses with degenerative conditions and those with pre-existing conditions may not be eligible for certain types of coverage. Be sure to read all of the fine print when you initially purchase a policy, and review it annually to make certain that your horse is still covered as time passes.

3. Value

One of the most important considerations when choosing insurance for your horse is value. Although it may be tempting to simply go with the cheapest insurance policy you can find, you may be very sorry to have made that decision when it comes time to file a claim.

Horse insurance policies with low premiums may leave you paying a lot of out-of-pocket costs if your horse is ill or injured. Be sure that you understand exactly what is covered, and double check to make sure the company you’re dealing with has a good track record when it comes to paying out.

How Do You Find The Best Equine Insurance?

How Do You Find The Best Equine Insurance

While it’s important to go with a company that has specific knowledge regarding covering livestock and horses, your best bet may be to go through your existing homeowners/automobile insurance company to purchase a policy or to get good recommendations.

Your veterinarian is also a good source of information regarding equine insurance. Talk with him or her to find out which companies pay out the most easily and the most quickly.

Your farrier may also have good information regarding reliable horse insurance companies, and your horsy friends may have some excellent ideas.

It is also smart to check with online comparison sites, such as EquineInsuranceCenter.com, which provides questionnaires and applications that help you identify and select a policy that is just right for you.

Insurance requirements, premiums and offers are constantly changing. Additionally, your own circumstances (e.g. the condition of your home and barn, other insurance you may hold or may need, etc.) may affect what is available to you and what you may be charged.

For this reason, it is always best to check with your own insurance company and/or a professional, up to date comparison service to find the best horse insurance policy to meet your needs.

Reo Pritchard Discusses Equine Insurance

How Much Will I Have To Spend On Equine Insurance?

The cost of equine insurance varies greatly depending on lots of different factors. Naturally, the different types of horse insurance come at different costs. The basic cost is affected by factors such as your location, the security of your facility, your horse’s value, age and condition.

Your cost will also be based on factors such as:

  • Set percentage paid per claim
  • Annual policy premium
  • Deductible
  • Exclusions

By understanding the types of insurance that are available, taking your time and shopping wisely, you will surely be able to find a policy that suits your needs, your horse’s needs and your pocketbook.

Sam Ellis
Sam is a founder and editor of Horses & Foals. In personal life he is a proud father of a boy and twin girls. He believes it is more important than ever before to encourage children to experience the joy of horse riding. Horses make as much sense as the sunshine in our world.


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