If you have a horse or horses in your home, you should get equine health insurance. There are several reasons why you might consider obtaining such protection.
Primary medical/surgical coverage
When buying health insurance for horses, you must consider the type of coverage you need. There are several policies to choose from, each of which has benefits. Consult an independent agent to find competitive pricing and the best coverage.
The type of policy you select will depend on various factors, including your horse’s age and lineage. It may also have restrictions depending on the value of your horse.
A primary medical/surgical policy covers a variety of types of emergencies. These include injuries, surgeries, and veterinary costs. You can purchase this insurance for a flat fee or with a deductible. However, most policies do not cover elective surgeries or dental care.
Another type of coverage is known as a loss-of-use policy. This policy will reimburse you for a percentage of your horse’s value if it becomes disabled. Depending on the company, this coverage will include a maximum amount of $5000 per year.
Loss of use
Loss of use is a form of coverage that helps a horse owner if their horse becomes sick or injured. The policy usually pays out a certain percentage of the horse’s value. A few procedures also include regular veterinary care.
An extensive veterinary exam may be required if your horse develops an injury. X-rays and drug screenings will be part of the evaluation. Depending on the plan, dental care and elective surgeries may or may not be covered.
Some insurance companies offer lower payments for loss of use coverage, while others only pay a portion of the claim. You should also check if the company is licensed in your state. Many insurers will require you to turn over your horse to them once the claim is settled.
This type of insurance is similar to hospitalization insurance, except that it is geared more toward unexpected illnesses and injuries. However, unlike hospitalization, loss-of-use insurance does not require you to destroy your horse.
Getting health insurance for your horses is an excellent way to save money on veterinarian bills. There are many different kinds of horse health insurance to choose from. These vary in cost, coverage, and level of protection. Before purchasing a policy, be sure to research each one.
Major Medical Coverage: Major medical coverage helps with the veterinary expenses associated with your horse’s surgery. It can also cover medication, diagnostic procedures, and even vet visits. However, this coverage does not cover pre-existing conditions, alternative therapies, or routine veterinary care.
Full Mortality Insurance: A full mortality policy covers your horse against a broader range of causes of death, including natural occurrences, accidents, humane destruction, and acts of God. Most policies include named perils, such as lightning, thunder, and tornadoes. In addition, they usually cover freak accidents, humane destruction, and even the removal of a carcass.
Loss of Use Insurance: If your horse dies, your insurer will reimburse you for a percentage of its value. The reimbursement can be anywhere from 60 percent to 80 percent of its insured value, depending on the type of loss-of-use policy you get.
Finding a good equine insurance agent
Choosing an equine insurance agent is a critical step in protecting your horse. It’s essential to partner with an agent who understands the ins and outs of the horse industry. They can recommend the best companies for you and your horse and answer any questions you have about coverage.
Horse insurance can cover medical expenses, accidents, and more. It can also provide liability protection. Read the policy carefully before signing it.
If you’re considering buying an equine insurance policy, you’ll need an accurate estimate of your horse’s value. In most cases, the premium for an equine insurance policy will be based on the age of your horse when it was purchased. For older horses, getting a good quote can be more difficult, so it’s a good idea to contact multiple insurance companies to find out what it will cost.