Choosing the right horse insurance policy can be a challenging task. You can find the best insurance policy for your needs with some research.

Your horse’s age, activity level, pre-existing conditions, and market value can all affect your price. You also want to make sure your horse’s cover includes vets fees.

Basic Coverage

There are a few basic coverages available under a horse insurance policy. These include mortality coverage, which reimburses you for the horse’s value when he dies.

Insurers use actuarial tables to estimate the horse’s value based on past sales, training records, and competition results. These values are compared with horses of comparable age, breed, discipline, and level of training.

The horse’s mortality policy also includes guaranteed extension coverage, extending the range for a specific condition up to 12 months from expiration, provided the situation was reported promptly during the policy term.

The best way to choose the right horse insurance policy for your needs is to contact an agent specializing in livestock medical and mortality coverage. This agent will work closely with you to determine the best insurance for your situation.

Add-On Coverage

Regarding insuring horses, several add-on coverage options are available under a horse insurance policy. These can range from cover for loss of use to international transit.

When considering the types of add-ons available under a horse insurance policy, choosing the right one for your needs is essential. A bespoke approach will meet your specific needs and protect you in the event of an emergency or injury.

Some policies include a fixed amount of death cover for named perils such as fire, lightning, theft, transport, and being shot or attacked by wild animals. However, this can exclude coverage for death resulting from sickness or accident.

Many mortality policies also include primary medical/surgical coverage that can pay the total sum or percentage of medical expenses incurred due to unexpected injury or illness. The cost of this add-on coverage is based on the insurance coverage limit, the deductible, and the coverage details.

Loss of Use Coverage

Loss of use coverage, added by endorsement to a mortality policy, pays a percentage of the insured value of your horse in the event it becomes permanently unable to perform its stated purpose. This coverage can be beneficial in case of a career-ending injury or illness and help cover vet bills, etc.

This coverage is available on some horses depending on their age, value, and use, although a comprehensive veterinary evaluation is required before it can be granted. For example, it can be tailored to a particular competition level or discipline and is often part of an equestrian insurance plan.

Like many other types of equine insurance, this can vary among companies. Some will require that your horse undergo a complete veterinary exam and diagnosis before approval, while others may allow you to retain the horse after a claim has been paid.

Exclusions

Many horse owners insure their horses because they want protection from costly veterinary bills. Insurance is an excellent way to protect a horse’s life and health despite the cost.

When shopping for horse insurance, it’s essential to understand what’s covered and what’s not. The most critical aspects are exclusions, notice provisions, and time limits.

Insurers may impose exclusions for specific conditions or treatments because of prior claims or the nature of the state, such as colic. These exclusions can be removed on a case-by-case basis.

Another important consideration is whether your policy includes primary medical and surgical coverage. This coverage can cover the veterinary costs of treating a horse’s illness or injury, including emergency colic surgery.