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February 2024

Is Horse Insurance a Good Investment?

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Equine medical insurance is a valuable tool for protecting your investment in horses. While it won’t cover routine vet bills, such as annual vaccinations and dental floating, it will provide coverage for emergency surgeries. It may also pay for extended treatment periods for injuries and illnesses. It can also pay for rehabilitation expenses, such as lost earnings in case of an accident. Some policies will also cover losses for a year or more if a horse is euthanized.

Full loss insurance is ideal if you own horses and plan on showing, training, or racing them. While full loss insurance is most expensive, it covers a percentage of the value of your horse in the event of death, injury, or loss. Horse insurance also pays for damage to animals you board, train, or race. However, it is important to note that this insurance policy does not cover any damage or injury to your own horse. Therefore, you should research insurance policies thoroughly before purchasing them.

Whether or not horse insurance is a good investment depends on your financial risk exposure. The more add-ons and endorsements you purchase, the more protection you’ll get. Some insurance plans cover a named rider, while others cover anyone handling a horse with the owner’s permission. If you don’t own a horse, you should consider purchasing Rider insurance. Rider insurance is designed to cover expenses associated with riding a horse. In some cases, the policy will even cover your vet fees in the event of an accident.

Full mortality insurance protects your horse against a wider range of medical costs. A full mortality policy will reimburse you the value of your horse in the event of death or theft. Some policies also include a reward for safe return of the horse. Finally, it’s vital to consider the cost of medical care, as veterinary procedures can be quite costly, and even a simple emergency surgery can set you back several thousand pounds. This coverage is essential for protecting your investment.

While you can choose a Full Mortality policy that covers any eventuality, you may also want to look at a Medical/Surgical policy. This policy helps you pay for veterinary costs should your horse die unexpectedly. The cost of removing the body can add up quickly. However, it’s important to read all of the fine print before making a decision. If you don’t fully understand the coverage for your horse, you may be better off purchasing another policy.

Medical/surgical policies usually exclude routine care, dental treatments, elective surgeries, and treatment for birth defects. Most policies also exclude alternative therapies like acupuncture and chiropractic care, but some will review such claims on a case-by-case basis. Some exclusions are common sense, such as those that prevent reimbursement for surgeries performed by non-certified veterinarians. If you don’t understand what these exclusions mean, you can simply ask the provider about it.

Aside from the value of your horse, you should also determine whether it has increased in value since you purchased it. To determine this value, consider showing records, breeding records, and training fees. You might want to insure only a portion of your investment. If the value has increased over time, you can always start over. If you are unsure, consult an insurance agent to discuss your options. If you’re not able to get the replacement value, you can always opt for a partial reimbursement.

Horse insurance premiums vary considerably. Premiums are calculated based on the size and age of your horse, its breed, and how you intend to use it. The premiums also depend on optional add-ons, such as coverage for alternative therapies or diagnostic tests. Some policies also have a cap on the cost of complementary therapies. Therefore, it’s worth checking the exclusions before making a final decision. If you need to make a claim, make sure you compare quotes from several companies before you decide on a particular policy.

Some insurers will cover the cost of infertility if a stallion becomes infertile due to accident, disease, or sickness. However, some policies don’t cover a horse more than 20 years old. Some companies also require you to disclose any pre-existing conditions that your horse might have. This could lead to false economy on your part and a denial of your claim. Lastly, check whether or not the policy covers the activities you intend to participate in.