Is Horse Insurance Worth It?

Whether horses are part of a business or a family, their owners should seriously think about getting the right insurance for them.

Mortality insurance is meant to pay you a certain amount of money if your horse dies because of an illness, injury, disease, or accident. If your horse is stolen, these policies can also cover the costs. Most policies for death insurance require that the horse be in good health and free of any injuries, illnesses, or disabilities at the time the policy is applied for. Or, if the horse has certain known problems, the insurance company could give a policy that doesn’t cover those problems and others like them. Owners of mares should buy insurance for the same amount as the mare’s market value.

Essential Things to Know About Horse Insurance

Horses are an important part of human life, whether as loyal friends or work animals.

If you own a horse, you know that it takes a lot of work and costs a lot of money. So, getting insurance for your horses is important to keep you and them safe.

If you don’t know what this kind of insurance is, keep reading. You’ll learn five important things that will help you and your horse be ready.

Traveling with a horse might be paid for.

Many horse owners take their horses with them when they go to a show, rodeo, or some other event. If you do, you may be eligible for transient coverage.

This type of horse insurance covers your animal when it’s time for races or shows, or when you take it somewhere else. You can choose short-term coverage while traveling to keep your horse safe for a set amount of time.

On the other hand, if you travel with a horse often, a policy that lasts all year will be better. This kind of coverage usually comes with a small premium, but it can give you peace of mind when you’re away from home.

Insurance for sickness and accidents

Horses need special care for their health, which can be expensive. You’ll need a good insurance policy if your horse gets sick or hurt.
With this kind of insurance, you can save money on vet bills and medicines. It works like health insurance for people in that it pays for some or all of the costs of health care.

To take care of a horse, you need a vet who specializes in large animals. That’s why it’s so important to have basic health insurance, because these services can cost a lot of money.

If your horse is very sick, you might also be able to get a policy for “loss of use.” If the horse can no longer work or perform, this coverage will pay you back about 60% of its value.

If a horse dies, you can get another one.

No one wants to think about the death of their horse. Unfortunately, that day will come. Mortality insurance can pay for the cost of getting a new horse after yours dies.

This type of insurance will cover any kind of death, whether it was caused by an accident or by something natural. It can also pay for your horse’s funeral if it dies in a fire, flood, or at the hands of another animal.

Carefully read all the terms and exceptions because some insurance companies may not want to pay you the full value of your horse. If the animal dies because of something you did or because you were careless, you might not be covered.

The insurance company will look at the horse’s lineage, the price it was bought for, and how well it has been trained to figure out how much it is worth. A well-trained horse may be worth more than one that hasn’t been trained.

Other things that could play a role are the horse’s age, sex, and breed. In the end, it’s up to the insurance company to decide how much it would cost to buy a similar horse.

Crises in medicine, and surgeries are expensive

You should get major medical and surgical coverage for your horse in addition to general health coverage. This includes surgeries that are needed because of a serious accident, illness, or injury.

Like people with health insurance, horses with conditions that were already there might not be able to get coverage. For instance, if the horse was lame before it got hurt, that could be seen as a pre-existing condition.

Most of the time, this extra coverage helps pay for medical care, wound care, and surgeries that wouldn’t normally be covered. It’s like a hospitalization policy, where the insurance pays for your horse to have surgery. For many horse insurance companies, major medical care and surgery are added to the policy.

Liability insurance is a way to protect yourself.

Horses can be hard to predict. It happens all the time that someone gets thrown or kicked. Let’s say your horse hurts someone’s property or gets loose and causes an accident.

With liability insurance, you can protect yourself from a lawsuit that could be very bad for you. Everyone who owns a horse should have some kind of liability insurance, especially if their horses often interact with other people.

If the horse hurts someone, the person who is responsible for the horse should help pay for the person’s medical bills. Include this type of horse insurance in your budget, because no one can afford to be sued if they don’t have to be.

Only the horse you own is covered by your liability. If you take someone else’s horse somewhere or take care of it, they will need their own liability insurance.

Protect Your Equine Companion

Horse insurance is an important part of taking care of an animal. It covers things like injuries, sickness, travel, and liability. Before you decide which policy you need, look around for the best rates and premiums.

Each insurance company has its own rules and terms, so be sure to read the fine print. When you have horse insurance, you won’t have to worry about your beloved animal getting hurt.

Can you get insurance for an old horse

Can you get insurance for an old horse?

Several insurance companies offer veteran horse insurance, but their definitions of “veteran” vary from 16 and older to 20 and older or even 25 and older. Some laws have limits on how old you can be, and some don’t. Most veteran insurance only covers death from an accident, and vet fee coverage usually only applies to accidents, not illnesses. Theft and loss caused by getting lost are covered. It’s always a good idea to get a few quotes to find out who will give your older friend the best coverage.

What kinds of insurance can I get if I ride horses that don’t belong to me?

If you ride someone else’s horse or pony, you can protect yourself with a rider-only policy. The insurance covers accidents that happen to the person who bought it, as well as accidents that happen to other people. It also usually covers custodial liability. You can choose how much coverage you want from many companies.

Check the policy wording if you want to buy coverage for both your death and a permanent injury or disability, as not all providers cover rider death. It’s also a good idea to check carefully about dental repair, since some plans cover any dental work and others don’t. Some policies cover only a small amount of emergency vet bills in case of an accident. Riders from 5 to 75 years old can get coverage.

If I save the cost of the premium each month, is that a good way to avoid getting horse insurance?

Some people try to save as much as they can each month in case they get hurt or have an accident and need to pay for vet bills or other costs. In reality, all responsible horse owners should have Third Party Liability insurance and some kind of personal injury insurance. This will protect you from having to pay a lot of money if something terrible happens.

Insurance for vet bills can be pricey, but vet bills for diagnosis and treatment can also be very expensive, add up quickly, and become unmanageable. It’s important to think about what you could afford if your horse suddenly got sick or hurt, and if the money you save each month will be enough to cover the costs. Leaving yourself open to rising vet bills is a big risk, and you could end up having to make a tough decision about your horse’s future for reasons other than its health. This is a situation that no horse owner wants to be in.

It’s unthinkable that horse health insurance would cover vet bills. It’s there so that when your horse needs you, you don’t have to think twice about getting them the best care so they can get back on their feet quickly.

Is Horse Insurance Worth It?

It’s easy to make a list of horses that should definitely be insured, like Olympic sport horses, million-dollar racehorses, top breeding stallions, etc. The monthly or annual insurance premiums for these horses are nothing compared to the money they would lose if the horse got hurt.

There are also good reasons to buy insurance for experienced hunters and jumpers, broodmares with good bloodlines, and young rodeo stars with a lot of potentials. Even though they may not bring in a lot of money, these horses are the result of years of time, effort, and money. It would be a terrible loss to lose them.

But when it comes to horse insurance, where do you draw the line? Even though you can’t put a price on what a horse means to you personally, you should still think about how much it will cost you. Does the 4-H horse your child rides need insurance? What about the Shetland pony that your kids learned to ride or the horse that you ride on the weekends? Does it make sense to get horse insurance if your horse isn’t worth a lot of money?

This question doesn’t have a clear yes or no answer, but in most cases, the answer is no. Many people who work with horses decide this based on how much the horse is worth. For example, you don’t insure horses worth less than $10,000. But there are no rules about whether or not you should get insurance if you can afford it.

One Last Thing

You are the only one who can say if horse insurance is worth it or not. In case you need it, an emergency policy can give you peace of mind. If you know you wouldn’t be able to make a good financial choice in this situation and would go bankrupt trying to save your horse, one of these policies might be a good idea. But you should do your research and make sure not to buy too much insurance for the horse.