Insurance exists for many aspects of our lives, from medical care to home insurance. These policies protect us from massive expenses, should a major life event occur. Although these forms of insurance are common, are you aware that you can insure your horse? Equine insurance has many considerations, so read on to find out more about what equine insurance can and cannot do.
Can: Pay for Medical Bills
Just like medical insurance pays for humans’ medical expenses, equine insurance pays for bills, as well. However, insurance may not cover 100% of the bills, so it is important to keep in mind that there will be some out-of-pocket expenses. This means that insurance may end up costing more in the short-term if your horse is relatively healthy. Still, if your horse is diagnosed with a serious condition, insurance can help lower the cost of treatment.
Cannot: Pay for All Expenses
There are some line items that are not covered under equine insurance plans. Common examples include farm calls, transportation to a vet, treatment for pre-existing conditions, and dental procedures. Although equine insurance could help you lower costs to treat future conditions, it is not going to completely eliminate your bill. It is important to consider whether equine insurance is worth the cost.
Can: Protect in the Event of Loss
There are insurance policies that can provide payment in the event that you lose your horse. These policies often cover death due to an injury or illness (sustained after the policy was opened), theft, or euthanasia at a veterinarian’s recommendation. These policies do not cover you in the case of non-recommended euthanasia, prior injuries and conditions, or complications due to non-prescribed medication usage. You do need proof of purchase in order to be covered, but these policies can be a lifesaver for someone who relies on their horse for their business.
Cannot: Cover Alternative Treatments
Equine medical insurance does not cover alternative treatments, which can vary greatly. This category covers chiropractic, acupuncture, massage, rehabilitation, and experimental treatments. The underwriters can determine if a procedure is experimental. These treatments, and several others, would be entirely out-of-pocket, so consider whether your horse may require help that is not covered.
It is every horse owner’s choice whether or not to buy equine insurance to cover their horse. It can be a good option in some cases, but in others, it is unnecessary. Consider which option may help you to save more and have better access to care for your horse.