Equine Industry Insurance: Want to Get Your Horse Insured? Here is What You Should Know

Grooming a horse is no less than raising a child. It demands equal love, affection and efforts. Feeding them, riding and playing with them demand endless hours. Only a horse owner would understand how the horse becomes an integral part of the family and they would go to any length to keep their equine friends comfortable and safe. However, their illnesses or injuries can cost you a fortune. If you own a horse, you have to be mentally and financially prepared to pay exorbitant vet bills. Apart from that, accessories like their gears, trailers and other necessities too are expensive. Especially if the horse is participating in equestrian events, they might often require expensive medical treatments. It is better to be financially prepared to deal with that. That is why many equine owners are these days opting for equine industry insurance that covers them if their mare or pony falls ill or gets injured. It can save you a lot of money.

There is an end number of benefits of equine industry insurance Adelaide. Let’s have a look at some of the major benefits.

It covers vet fees:

Vet fees for your horse might cost you a bill up to several thousand dollars. Yes, it is that expensive! This is one of the major reasons why you should have equine insurance. Horses may suffer from common illnesses and injuries like colic or lameness. The treatment for these diseases is costly. Depending on the level of coverage you choose, it may cover medicines, radios, ultrasounds, MRIs, scintigraphy, lab tests, acupuncture and osteopathy. In certain cases, helpless horse owners have to make harsh decisions such as getting their horse destroyed because they cannot afford the treatment. Having equine insurance is important to ensure that you have financial support for the horse treatment whenever needed.

It can be customized:

Owning a horse is a huge liability. If you want peace of mind, you should have equine insurance. The best part of equine insurance is, it can be customized as per your needs and financial situation. Some insurance covers have mortality contracts under which the horse’s value is refunded if he dies of an illness or of an accident. It does not cover natural death. The contract might ask the horse owner to enter the value of the horse which is later validated by the insurer. Regardless of age or performance of the horse at the time of death, the exact value is refunded to the owner. You should check with the insurance company for further details. The owner might need to provide justifying documents in case the horse is of very high value.

It comes in various forms:

Equine insurance comes in several forms and equine owners can choose as per his requirement.  

Permanent loss of use: In some cases, horses may suffer an injury or illness that might be irreversible and he may never participate in any activity or event again. Equine insurances have provisions for these kinds of horses as well.

Disposal of the body: Equine insurance also covers the cost to remove or dispose of the horse’s body.

Replacement or theft of saddlery & track: Replacement or repairs of horse’s saddlery and tack in case they are stolen, damaged or destroyed may burn a hole in your pocket. Equine insurance covers you from this expense as well.

What does it not cover?

It may depend on the contract you may choose. Some costs like osteopathic expenses, transport, stabling expenses in clinics might not get covered in the insurance. Apart from that, if the horse dies due to owner’s carelessness, castration, doping, administrative slaughter, it might not get covered in the insurance. Insurance may not cover the cost of food supplements given to the horse during the course of treatment. Any condition or claim that had occurred before taking up the insurance may not be covered in it.

Can you get insurance for old horses or horses with chronic diseases?

It depends on the insurance cover you opt for. If the horse already has a known pathology, the costs linked to it might not be refunded under the insurance cover. If your horse has a health condition while taking up insurance, it might not be refunded. For example, if the horse is already suffering from osteoarthritis while taking up the insurance, the owner will not be refunded for its treatment. But if osteoarthritis is a result of an accident that occurred after taking up the insurance, it will be covered.

Another question equine owners might ask is whether they can take insurance for old horses or not. Some insurances provide a veteran guarantee for up to 30-year-old horses. You must keep in mind, if you get this privilege, few other refunds might not be included in the package.

It is wise to subscribe for equine industry insurance when the horse is young and healthy so that you can yield the maximum benefit out of it. In addition to this, you must understand the nitty-gritty of the insurance cover with the agent before opting for it to make sure you get the best suitable deal.   

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