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A Guide to the Basics of Equine Insurance

Insurance is an important component of your life. You can get insurance for yourself, your property, and even for your business. Nowadays, a lot of companies offer equine insurance, which benefits individuals who own horses.

This insurance is not a legal requirement, but having a horse is a responsibility that needs a big financial commitment. Horse insurance can bring you peace of mind whenever you’re faced with unexpected circumstances where you need to shell out a lot of money. Here are some things you need to know about it:

What Does It Cover?

This insurance has different levels of coverage. Here are some of the basic benefits you can get from each:

Death Coverage

When you have this policy, you will be protected from the financial costs if the horse gets into an accident or contracts an illness and passes away. It may also cover the removal and disposal of the animal’s body.

Major Medical Coverage

If the horse gets involved in an accident or contracts an illness that needs comprehensive medical care, the policy can cover your expenses. The amount limit of this coverage is $15,000.

How Much Does It Cost?

Each policy may vary due to several factors. First is the age of the animal. If your horse is already old, there’s a chance that you’ll pay a much higher premium since it has a greater chance of becoming ill. The second factor is the animal’s purpose. The activities it does can carry different levels of risk. If the horse is used for hunting, it’s considered as high-risk.

The third factor is the additional coverage you want. The basic policy only covers death and medical expenses, but you may opt for additional coverage, which includes vet fees. This will increase your premium, but it’ll definitely save you a lot of money should the animal need any medical care.

Does It Have Any Exclusions?

Like other insurance policies, this one also has its own exclusions. For one, under major medical coverage, it won’t cover any expenses if the horse suffers from a pre-existing medical condition before you get the policy. It won’t also cover alternative treatments, elective surgery, regular maintenance, and corrective shoeing.

The coverage is only offered to those who own horses used for sports, show, and breeding. Another thing is the age limit. This policy is only available to horses with ages ranging from 90 days to 20 years.

Cover Your Horse Now

When it comes to equine insurance, you can rely on us at Nicholson Insurance! We can help you out with your needs by creating a policy that’s best suited for you and your horse. Reach out to us today to learn more.