Most horse owners consider their horses as their own family member. However, they can also represent a financial investment especially those who are in the world of equestrian sports. The main reason why horse insurance exists is to protect you and your horse from spending a large amount of money due to surgeries, procedures and other untoward incidents related to your horse. However, not all horse insurance policies are created equal. Their coverage terms vary in each company. This is why every horse owner should know how to read the fine print of the company’s actual policy when they are shopping around.
Here are some of the important questions you need to ask before deciding to get horse insurance
Is horse insurance expensive?
The truth is, not all equine insurance is expensive. It all depends on your horse’s value.
Do all insurers offer the same coverage?
This is a big NO. That is why it is essential to read first and understand their actual policy language. You can find an example of a horse insurance policy here.
Is there a difference between an insurance agency and an insurance company?
The agent should be authorised by the insurer to solicit the insurance. The insurer is the one who underwrites and binds the insurance coverage for an insured to identify all losses as well as to provide the benefits subject to the insurance policy’s terms. It is essential to understand and identify what insurer your agent represents. You may research for the company’s reputation on online or read here for more information on different types of pet insurance, such as horse or equine insurance.
Do I need to notify my insurer if my horse needs to be treated for certain minor conditions?
Yes, you should notify your insurer in event of any disease, illness, accidents, injury or any physical disability that happened to your horse. This is compulsory because these minor conditions might lead to even more serious and sometimes life-threatening situations.
What to do if my horse suffered from colic episodes but my policy excludes the coverage for colic?
All the information provided upon declaration of veterinarian certificate will be used by your insurer. This will then be evaluated and identify whether any pre-existing health condition exists. Your insurer may also require you for any additional information from the veterinarian before finally deciding if that pre-existing condition should be excluded.
Here is a list of some of the coverage you may look for when planning to get an equine insurance.
- Medical and Surgical
- Guaranteed renewal endorsement
- Full mortality base plan
- Lease insurance
- Short term insurance coverage
- Loss of use
- Equine transit insurance
- Personal liability insurance
- International horse transit insurance
- Guaranteed live foal insurance
- Expected foal insurance
- Fire and lightning insurance
- Risks in transit insurance
Owning a horse can be expensive especially if the horse owner is not financially prepared. Any horse that got seriously ill could cost a lot in veterinary bills . The worst part is that your horse died and you become emotionally devastated. Not only you are broken emotionally, but you will also lose everything you invested for your horse.
Before finally deciding to insure your horse, make sure to compare and contrast reputable insurers, visit this company if you're unsure of any reputable horse insurance businesses. Familiarity with the policy, an experienced agent, a reputable and financially-stable company and other miscellaneous details should be taken into consideration. Our horse isn’t just a pet, they are also part of our family. That is why we only want to provide the best for them.