Do I Need Horse Insurance?You already pay insurance for your car, your house and your health just in case the unthinkable happens – so why not have insurance on your horse also? Just like your own health insurance, horse insurance can help out if your horse suffers a health problem. In addition, insurance can also be useful if your horse is killed, lost, or if someone else is injured by your horse. Whether your horse is breeding stock, a first class hunter or just a backyard pet, you should look into insurance for your equine. The way in which you use your horse will determine the type of insurance coverage you need. Because horses are both a living animal and a possession, the insurance policy you choose may be an interesting mix of health, liability and theft insurance. Most horse insurance policies start with a basic mortality policy, and then offer additions to this policy. These mortality policies are generally for the purchase price of the animal and cover cases of death from injury, accident or disease. Sometimes a theft policy is included in the mortality policy at no extra charge. Just as you would insure your home against theft or damage, you can also insure your horse for these same misfortunes. Another benefit of horse insurance is the financial help if your horse were to get sick. Most horse insurance companies offer a major medical policy to supplement a mortality policy. Like your own medical insurance, you will often pay a certain premium each month that allows you to pay only a set co pay during each visit to your veterinarian's office. Sometimes you will have to also pay a deductible each year. Horse insurance can also help out with legal costs in the case you and your horse are involved in a lawsuit. Although there are state laws that can help in the case that your horse injures someone because of their negligence, horse insurance can help in the case that your horse hurts someone, or damages someone else's property, and you can be deemed at fault. If you use your horses to teach riding lessons or rent these horses for others to ride, you may want to look into specific horse insurance for these purposes. This will help with legal fees in case someone is injured or killed while riding your animals. The type of horse you own may determine if you need other policy types for your animal. For instance, if your horse is a registered purebred stud horse, you may want to insure him against infertility. After all, if he can't service mares, he isn't making you any money. You can also get a horse insurance policy that will cover your loses if your hunter or racing horse is injured and unable to compete any longer. As you can see, horse insurance is a must for almost every horse owner. Whether you need help with vet bills, want to protect yourself in the case your horse gets lost or stolen, or want to avoid the costs a lawsuit may bring, horse insurance is for you. |
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