The Benefits of Horse Health Insurance

Horse health insurance is the topic that most people would rather not discuss in the barn aisle or ring. However, the annual premiums are a small price to pay for peace of mind and the protection of your horse. Most full mortality policies come with primary medical coverage. Major medical and surgical insurance is usually available for a flat fee based on the coverage limit, deductible and policy details.

Reduced Risk of Injury or Illness

Insurance lets the owner rest easy, knowing they are protected in the worst case. The premium isn’t cheap, but it is better than facing financial ruin in the event of a severe injury or illness. Mortality policies cover a horse’s actual cash value if it dies, while primary medical coverage reimburses for diagnostics and treatment. Both types of horse medical insurance coverage are usually available with yearly limits that vary by provider. Another option is loss-of-use insurance, which pays a percentage of the horse’s value if an injury prevents the horse from participating in the discipline defined in the policy. For example, if an accident causes the horse to lose its jumping career, it may be eligible for up to 60 percent of its insured value.

Coverage for Preexisting Conditions

Like most health insurance, equine significant medical policies provide reimbursement for unexpected vet bills caused by accidents, illness, or disease. Most plans cover diagnostic testing, treatment, surgery, and aftercare costs. However, unlike significant human medical policies, equine coverage rarely covers preventive care, preexisting conditions, or alternative treatments like acupuncture. Most companies offer surgical and mortality insurance plans that can be customized with optional coverages such as colic treatment, loss of use, and stallion infertility. Those who scored high in our evaluations were offered plans with generous annual limits, deductible options, and various covered treatments. A surgical-only policy will reimburse customary charges for surgery related to an accident, injury, or illness. At the same time, the major medical plan adds catastrophic and surgical insurance and can be paired with mortality insurance on a horse-by-horse basis.

Coverage for Surgical Procedures

Surgical procedures are expensive, and the heartbreak of being unable to pay for a life-saving procedure can be brutal. Insurance can help ease the financial burden and prevent a horse owner from making that difficult choice. Insurance is an essential component of the overall care of a horse and is often worth the investment. Before buying insurance, however, find a reputable and financially sound company that clearly explains its policies and procedures. Also, understand the limitations, exclusions, and deductibles of any policy you buy. A good independent insurance agent can help you find a plan that will work best for your situation.

Coverage for Emergency Care

Complete mortality and significant medical coverage offer reimbursement for veterinary bills for illness, disease, or injury. These policies also often include emergency colic surgery coverage. These policies cover unforeseen expenses when your horse is sick or injured, much like major human medical insurance plans. These policies do not usually cover routine vet care such as annual vaccinations, dental floating, and parasite control. Also, they generally exclude elective surgeries and alternative therapies such as acupuncture or reflexology. Working with an independent agent who can shop for the right horse medical policy for you is essential. They can cut through the jargon and explain any exclusions. They can help you find a plan that fits your budget and gives you peace of mind.

Coverage for Cancer Treatment

The ASPCA offers two policies that include colic surgery coverage: the Colic and Colic Accident Policy and the Colic, Illness and Collision Policy. They are a good choice for owners who need to cover unforeseen medical bills. Generally, significant medical/surgical policies reimburse for diagnostic tests and treatments incurred after the deductible is met. They don’t typically pay for routine care such as vaccines, dental work, or deworming, nor do they usually cover performance-enhancing therapies like acupuncture or magnetic therapy. However, companies review such treatments on a case-by-case basis. Full mortality insurance, meanwhile, pays a percentage of your horse’s worth if it is killed or dies from an illness or injury while under your ownership. It also covers veterinary fees for legal defense costs in the event of a lawsuit.