How to insure your horse

by Linda Ann Nickerson

"Only insure your horse, if you could not afford to replace him," a trainer once told me. Actually, this has turned out to be pretty good advice.

For many years, we did carry insurance for our horses. As our herd grew, however, this became prohibitively expensive.

WHAT SORTS OF POLICIES ARE AVAILABLE?

Horses may be insured against mortality (death by accident or illness), specified perils (fire, lightning or transportation damages), reproductive hazards and infertility, theft, and loss-of-use (disability). Loss-of-use is difficult to prove, and this coverage can be quite costly.

WHAT'S YOUR HORSE WORTH?

If your horse is worth a lot of money (as in, more than $10,000), then it may be worthwhile to purchase insurance to cover life or loss. If you paid $1,000 or less for your horse, then you may opt out of insurance. (This does not diminish the amount of love you have for your equine companion!)

Of course, an equine insurance premium is generally based on the value of a horse. Other factors include the horse's age, location and intended uses. Jumpers and eventers are costlier to insure than dressage horses. Horses who travel to shows may have higher premiums as well.

WHAT ABOUT FOALS?

In some cases, breeders will opt for in-utero insurance. This may cover stillbirths or even hazards of multiple conceptions (i.e., twins). Live foal insurance is another possibility, although many stallion owners offer rebreeding as a recourse.

Several insurance companies refuse to insure foals. Others offer limited policies, which change monthly, as the foal grows.

WHAT IF YOU HAVE SEVERAL HORSES?

If you have several horses, the insurance premiums can add up quite quickly. It's important to weigh the odds and determine whether the output is worth it.

WHAT ABOUT MEDICAL INSURANCE FOR YOUR HORSE?

Major medical insurance can be quite costly for horses. For example, coverage for a 10-year-old horse could be $500 or more per year. This does not cover shots, worming, joint injections, or other routine-classified procedures. Most policies will not cover x-rays, ultrasounds, or other diagnostics. Shock-wave therapy, equine massage, and chiropractice care are usually excluded as well.

Basically, major medical insurance protects the owner from massive surgical or hospitalization expenses.

In other words, if your horse should suddenly require colic surgery, you would be glad to have medical insurance. If your horse came up lame, your insurance coverage would be irrelevant.

READ POLICIES CAREFULLY.

Detailed exclusions apply to virtually all equine insurance policies. For example, will your insurance compensate you, if your horse dies from a snakebite or eating a poisonous plant? Can you file a claim for an injury he suffers during a foxhunt?

A wise horse owner will consider all possibilities before signing a contract. If you have any questions, ask your insurance carrier upfront.

Learn more about this author, Linda Ann Nickerson.