Have you ever thought about what you would do if your horse was seriously injured, sick, or had to be euthanized? Not only would this be a devastating blow emotionally, but you would also have to cover a stack of veterinary bills.
This is when horse insurance can be invaluable. The question is, what policy do you need? Keep reading to learn about some types of horse insurance that are available for purchase.
Types of Horse Insurance
While you eventually need to look into horse insurance cost, you should start by knowing what type of protection you need. Some of the options include mortality coverage (i.e. a life insurance policy for your horse), loss of use, major medical coverage, and liability protection, which protects you legally if your horse hurts someone else. There are some liability policies that also protects you from the possibility of a lawsuit if someone is injured while on your property.
Finding the Right Insurance Company
When you begin looking for a quote from an insurance company, there are two things you need to find out. One is if the company is legally allowed to operate in your state and it’s rating. Most insurance companies receive a rating based on solidity and financial strength. If you find one with a low rank, you may want to look elsewhere for coverage.
Determining an Insurance Value for Your Horse
If you purchase a valuable horse, you want to purchase mortality insurance on it. This is especially true if you are still paying on the horse. With mortality insurance, you can’t just select the amount of coverage you want. The value must be determined by the insurance company.
If you are considering horse insurance, be sure to consider the factors above. This will help ensure you get the policy you need for a price you can afford.