If you have recently purchased a horse, you might be wondering if you should also acquire horse insurance. This is a valid question as a horse is a very valuable item. Therefore, you might be considering how to protect your horse and also how to not loose money if something were to happen. Therefore, you should definitely consider obtaining insurance for your horse. There are a variety of different choices of horse insurance that you might consider.
One of the most obvious plans to consider will be mortality insurance. You have a choice between full or limited mortality. Full mortality insurance will reimburse you in the full amount of the total value of your house if it were to die from either sickness or an accident. Limited mortality insurance will pay you the total value only if the horse were to die from some type of accident. In order to have full mortality insurance you must also have a medical or surgical plan in effect for your horse.
Medical and Surgical Plans
Having a medical plan in place will allow you to get your horse medical treatment if needed. This includes veterinary costs that you might incur because of illness or injury to your horse. Just like a regular insurance policy, most plans do have a deductible that you will have to pay. There might be some limitations on both age and preexisting conditions, so it is very important that you look into this thoroughly before deciding. A surgical plan will come into play if your horse were to need any type of surgery due to the illness or accident.
Equine liability insurance can be a great option for those who don’t want to purchase full coverage but are still looking to insure their horse in the case of an accident to others. With the case of liability, you will be protected if your horse injures property or someone else. This is great if your horse spends a lot of time around others and you want to protect yourself from lawsuits and injury claims by others.
Obtaining horse insurance is definitely a smart choice if you own a horse. It will give you peace of mind in addition to keep both you and your horse covered.