Owning a horse is huge responsibility. If the worst should happen and your horse become injured, the financial strain that comes with that could be devastating. That’s why it’s important to insure your horse. Here are a few of the different types of insurance available.
1. Major Medical
This works much the same way as a major medical insurance policy for humans. It will cover veterinary costs like doctor visits, surgery, and medication. Most policies have a deductible, and all have a limit on how much they will cover per injury per year.
Some insurance agencies require a health certificate to prove that your horse does not have any pre-existing conditions.
This only covers your horse when surgery is needed. It will cover only expenses pertaining to the surgery such as: surgeon’s fees and use of anesthesia. They don’t cover hospital stays.
3. Full Mortality
If you get a major medical horse insurance policy, most companies will require you obtain full mortality as well. In the event your horse dies from illness or accident, or is stolen, you will be reimbursed the value of your horse. You will have to state the value of your horse at the time of purchasing this policy.
4. Limited Mortality
You don’t need to have major medical for this type of policy. Most people buy it for special circumstances where the risk of the horse becoming injured or dying is greater than usual: like shipping across country. If the horse dies during that time period, the value of the horse is reimbursed.
5. Loss of Use
This protects you in the case that your horse is unable to fulfill the duties for which you bought him. You will be reimbursed a previously agreed upon sum of money. Major medical is usually required to go along with this policy.