Understanding Horse Insurance

Whether you are buying your first horse or are looking to renew your existing policy, understanding your options is essential. You may need to consider many different types of insurance, from general liability to surgical coverage.

Loss of use

When buying horse insurance, you must understand the differences in coverage. Many kinds of insurance are available for horses, and you should shop around. You also need to understand your horse’s medical history. This will help you choose a policy that fits your needs. Loss of use is a kind of permanent disability coverage for horses. It provides financial assistance to help you with veterinary bills. The amount you receive will vary from 50% to 100% of the insured value. Many policies offer regular veterinary care and vaccinations. Besides providing cover, loss of use can be an extension of other equine medical insurance. A lot of policies even cover theft. If your horse is stolen, you can usually claim the money back. For loss of use to be considered, you must show proof of the condition. Your veterinarian will most likely be asked to examine the horse thoroughly. Some policies have no vetting requirements, while others require a battery of tests.

General liability

A commercial equine liability insurance policy is ideal for individuals who own, breed, train, or professional work with horses. This insurance can also benefit people who organize equine events, such as horse shows, race tracks, and training facilities. A liability insurance policy is a great way to protect yourself from lawsuits. It can cover claims involving injuries, property damage, or acts of omission. For example, if you are responsible for a calf that falls during a horse show, a liability policy can cover the cost of a police investigation. Another great idea is to purchase equipment, tools and supplies floater to cover the loss or theft of equipment transported from one location to another. Many insurance companies offer discounts on these types of policies. Many factors go into the selection of a policy. Some insurers require detailed information about the operation of your farm. They may also ask you to post rules and regulations in your barn to prevent accidents. These may include wearing helmets and boots, posting emergency numbers, and requiring riders to sign a waiver.

Surgical Insurance

When your horse gets sick or needs surgery, you should consider getting surgical insurance for your horse. It may help you save money on veterinarian bills and medications. But before you buy, you should check out your options. Surgical insurance for horses works just like human health insurance. You pay a premium for coverage. In exchange, the insurer will reimburse you for certain veterinary costs. Depending on the type of surgery, the rates can vary. Your deductible will also vary. If your deductible is low, you may receive reimbursement for less than the deductible amount. For example, a life-saving operation has a $100 deductible. Surgical insurance for horses does not cover hospital stays or diagnostic work before surgery. Typically, medical/surgical policies exclude treatment for congenital disabilities and elective surgeries. The deductible price will depend on the company you choose to purchase your insurance with. Typically, the deductible will be between $150 and $250.

Emergency care

Your horse’s health is essential, and you want to know that you have the financial resources to get the best care for your horse in an emergency. There are many types of horse insurance available. You’ll need to choose the best option for your needs. You can get a quote and comparison shop online. Some companies may require a vet exam before coverage is applied. Check with the company to see if it’s licensed in your state. If you have questions, it’s a good idea to read the policy thoroughly. Some companies offer reduced rates. You can also ask about liability issues. Talking to a lawyer to understand your liability risk is a good idea. Equine insurance is a wise and great way to protect your investment.