Having a horse is an investment, and you want to protect your horse. Insurance policies can help cover some of the costs of illness, injury, and death.
Primary medical coverage pays for diagnostic procedures, medications, and veterinary visits if your horse gets sick or injured. Some major medical plans also include surgical coverage for elective surgery.
Coverage for Veterinary Care
Health insurance for horses can mean the difference between life-saving treatment and euthanasia. That can be a heartbreaking choice, but with the right plan, getting your horse’s care can be much easier without breaking the bank.
Primary medical coverage provides veterinarian fees for veterinary treatment, medications, and surgery due to an accident, injury, or illness during the policy period. This coverage typically has a deductible, reimbursement rate, and limits, details you’ll need to know before deciding what kind of policy is best for your horse.
Surgical insurance is similar but covers emergency and necessary surgery at a veterinary clinic. Unlike major medical, surgical insurance doesn’t cover routine care (immunizations, worming, etc.) or pre-existing conditions.
Coverage for Pre-Existing Conditions
Regarding insurance for your horse, you want to be sure that you are purchasing a policy that will protect you and your equine companion. That is why it is so important to choose a knowledgeable agent.
Some insurance companies will check if your horse has any pre-existing conditions. These include colic, lameness, ear problems, EPM, and founder.
In addition, some policies will also exclude elective surgery like castration and procedures that are company-specific.
Another option is surgical-only coverage, which covers the costs of operating room surgeries with limited aftercare. This can be a great way to protect your horse from specific less severe injuries and illnesses while still being able to afford some of the more expensive treatments.
Coverage for Accidents
Insurance can pay for veterinary care to treat your horse if injured or ill. In addition, liability insurance can cover the cost of defending yourself in a lawsuit for property damage or bodily injury caused by your horse.
Like human life insurance, mortality coverage pays a fixed percentage of the insured value if your horse dies. Policies can be total mortality, which reimburses you for the entire purchase price of your horse, or limited mortality, which covers a specific cause of death, such as an accident.
Primary medical, veterinary services, and medical assistance (each company uses different terms) are add-ons to mortality coverage that pays for reasonable and customary veterinary expenses related to accident, illness, injury, or disease. Exclusions vary from company to company, including pre-existing conditions, congenital disabilities, elective procedures such as castration or dental treatment, alternative therapies (like chiropractic or acupuncture), necropsies, and more.
Some insurers also offer permanent disability and loss-of-use coverage for a certain percentage of your horse’s insured value if he becomes permanently disabled due to specified causes of loss. This option usually costs more than primary medical or veterinary services. Still, it can be worth the extra premium to prevent your horse from being put down for an unsound state.