Equine insurance is absolutely mandatory for those who want to
protect themselves and their horse/horses from the expense and sad
consequences that often result from injury, theft or an accident.
After a home or a car, a horse may be the most expensive purchase
that a person ever makes in their life. If you are a horse owner
you are well advised to take equine insurance to protect your investment.
Also many riding schools and trainers will refuse to board or deal
with a horse that is not insured, so equine insurance is mandatory
if you expect to train or show your horse.
As anything can happen, horse owners are
advised to take out the most comprehensive
equine insurance that is available to them to cover any eventuality.
Most equine insurance policies are designed to reduce the anxiety
of having to meet high legal and medical bills in case, God forbid,
anything ever happens to your horse. Knowing that you have equine
insurance to fall back on in case anything happens allows you more
flexibility as well as increases your enjoyment of riding.
Before purchasing equine insurance you should
take the time to list your main areas of potential concern and imagine
why you would need to submit a claim. For most horse owners, insurance
for death, theft and legal liability are priorities. The rising
cost of veterinary fees due to advances in the medical technology
and techniques is also another factor you might want to consider
as many companies that provide equine horse insurance are now making
specific allowances for newer kinds of veterinary treatments in
Usually you will be able to insure your horse
for at least its market value. Market value is determined by the
price paid for a horse of the same age, breed, bloodline, sex and
ability. This value will be agreed between you and your insurer
but is usually the price you paid for the horse. This is because
your insurance is designed to put you back into the same financial
position you were in before your loss.
If you have just bought a horse, the purchase
price and market value of the horse is usually equal. If your horse
is older and something happens, you are usually insured for the
purchase price of your horse. If the market value of your horse
increases you should always inform your insurance company who may
increase the insurable sum you are paid if you happen to lose the
horse to death, theft or injury.
If your horse is homebred its value will
be agreed between you and your insurer. Your equine insurance premiums
will be determined based upon the market value of horses of similar
age, breed, bloodline, sex and ability. You are likely to be asked
to provide proof of your horse's ancestry and achievement to support
Whether you are an amateur equestrian or
a professional showman, equine insurance is a necessity. Accidents
involving your animal can result in serious injury to yourself or
others or injury to other people's vehicles and property. The end
result of such a tragedy can be high medical bills, high legal bills
and many checks written out to others to compensate them for their
losses. Equine insurance is one way to ensure that even in a worst-case
scenario that your horse and any other animals or humans that are
involved are treated in the most humane and medically appropriate