Horse owners all across the country ask themselves the same question when their horse suffers an injury or illness: should I get my horse health insurance? Horse health insurance is one of those things that makes sense in theory, but when you look at the cost and potential outlay, you may be left wondering if it’s really worth it. This article will help you decide if horse health insurance is something you need to be concerned about, as well as give you some tips on how to find the best policy for your particular needs.
Why do I need horse health insurance?
It is important for horses that cost large amounts of money. If your horse were to become ill, and you had to pay for veterinary care, it could cost you thousands, even tens of thousands, depending on your horse’s breed and age. And if he dies unexpectedly, having an insurance policy can help pay off his debt (if any), and help purchase a new horse in order to continue with your equestrian career.
How much does cost?
Horse health insurance can cost anything from $100 to more than $1,000 per year, depending on your horse’s age and breed. Check with your insurance agent for precise rates. You may need to ensure each individual horse in your stable separately. If you own one stallion but have several mares covered by insurance. Those premiums will be higher than insuring all animals together in one policy. Additionally, if your stables are located in areas known for endemic diseases such as Equine Infectious Anemia (EIA). Equine piroplasmosis (EP), or West Nile Virus (WNV), you should discuss coverage with an expert. The costs associated with treating these three diseases can run into tens of thousands of dollars; annual insurance costs alone are typically cheaper than dealing with an epidemic should it occur.
What are the benefits of buying horse health insurance?
Picking up horse health insurance can help you cover some basic costs associated with equine veterinary care. Most horse owners buy it as an insurance policy against catastrophic injury or illness. But some might be tempted to skip it because they don’t want to spend money on something that only rarely happens. But how do you know if you should buy it, and if so, how much coverage should you get? We answer those questions in today’s post.
You should consider buying this for all these reasons:
It protects your bank account from unexpected expenses: You may have had decent luck so far. But even healthy horses face risks from accidents or illnesses that can run up significant medical bills over time. If you aren’t ready to cough up that kind of cash. If you aren’t prepared for losing your prize mare unexpectedly—you need to get covered before disaster strikes.
Do I have to pay my premium upfront or can I spread it over time?
Many plans will allow you to spread your premium payments over time so that it doesn’t seem like such a large sum at once. However, if you don’t plan on paying for it upfront. Be sure to keep your cancellation notice in a safe place. Since many policies will not refund money for partially paid premiums. Be aware as well that some companies may only offer payment plans to customers who have been with them for multiple years; check with your provider before signing up to see what payment options are available.
Is there anything else I should consider when purchasing horse health insurance?
When shopping for horse health insurance, it’s easy to get sucked into comparing rates without questioning whether you need coverage at all. In most cases, you will want to purchase health insurance for your horse(s). But there are situations where it may not be necessary. Before purchasing horse health insurance, make sure you have given these points some thought and are prepared to explain why you don’t think it would be beneficial in your situation.
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