You might be torn between getting an insurance cover for your horse or not. A horse might not be very expensive, but you should do all you can to keep your assets safe. The market value of the horse does not matter; it is about the safety of your assets. Consider the tips below if you have been thinking of applying an insurance for your horse.

Things to consider when buying equestrian insurance

Replacement

If you ask around, you will get the notion that equestrian insurance is for the rich. This is a false myth. If you have to replace a horse worth $10000, it will be a lot especially if you have other bills to take care of. The idea here is, if you cannot comfortably replace your horse in case something bad happens to the old one, you need to take an insurance cover.

Insurance budget

How much are you going to set aside for the insurance? For the perfect answer reach out to an equine insurance company. You will figure out the value of your horse, for you to get the monthly premiums. Before settling on the replacement value, the underwriter looks at so many factors. The replacement value is what gives you the estimated budget for the insurance.

Mortality insurance

People have different fears; yours might be losing the horse. Worst things might however happen. Before buying a mortality insurance, be familiar with all clauses and stipulations of the insurance contract. Some insurance companies will replace your horse in case of death irrespective of the cause. Others will only replace on a vet’s recommendations. To avoid surprises after your horse is gone, review the insurance policy before signing the contract.

Loss of use

This policy is purchased to act as a supplement for your mortality policy. It will help you if the animal gets injured or sick. It is important that you read the printout well before purchasing the policy. You must understand the terms and policies of all insurance covers to avoid disappointments in future.

Medical insurance

Vet bills might be costly than you imagined. With a medical insurance policy, you will not spend huge amounts in case your horse falls ill. There are two types of medical insurance: one covers general vet care plus surgery. The other one covers common illnesses like colic damage or ligament damage. Get in touch with your insurance provider for advice on the best insurance policy for you.