There are many different types of horse insurance available on the market. Some companies offer more expansive coverage, while others are more restrictive. First, talk to an insurance agent to learn more about the different types of coverage. Listed below are the main differences between these types of policies. Then, read through the details carefully before making a decision. It’s important to compare coverage, exclusions, and cost to make the best choice for your horses.
Cost
Horse insurance policies are designed to cover the cost of vet bills for any horses under your control or care. Most companies offer up to PS5,000 of vet fee coverage per condition, though you can purchase higher levels from companies like Petplan Equine and E&L. Some policies even cover donkeys. You should check out the policy limits to determine what’s suitable for your horse. If your policy limits are exceeded, you will lose your money if it’s not worth enough to repair the damages.
Standard horse insurance covers major medical expenses, including vet bills and sometimes death. However, you may purchase additional coverage covering veterinary expenses, liability, and surgeries. The extra coverage will likely save you some money, so it’s worth considering. Equus Magazine recommends paying between 2.5% and 4% of the horse’s value in annual premiums. In addition, policies may exclude pre-existing conditions and horses over 15 years old.
Veterinary care and dental care are included with veterinary service and medical assistance coverage. You may also choose to purchase medical assistance coverage separately. These policies usually have deductibles of $250 to $675 per claim. They also typically exclude room and board costs. Regardless of the level of coverage, you should shop for the best horse insurance policy. You must know the exact coverage you need. A plan’s exclusions can make a huge difference in your premiums.
Exclusions
If you want a policy for your horse, you must pay attention to the details of the exclusions. Some exclusions may be based on pre-existing conditions, and you must tell your insurance agent about any conditions. This is a necessary step because if you don’t disclose the condition, it could result in your horse being uninsurable. In addition, some insurers may exclude elective surgeries or other treatments that will lead your horse to further problems. If you are concerned about your policy’s limitations, you may want to purchase a Catastrophe Cover. This will cover significant surgeries and open wounds.
Another common mistake horse owners make thinking that their policy will cover a routine joint injection. In reality, a joint injection is an injury and, therefore, an exclusion. However, this exclusion is not as important as you might think. KBIS makes sure its policy clearly states what is excluded and when. This way, you won’t receive any unpleasant surprises when you need to make a claim.
Veterinary services: Visiting a veterinarian before applying for a policy is important. You should contact your insurance company during an unexpected incident as soon as possible. They can help you navigate the insurance process and decide on the best course of action. In addition, you should be aware of the procedures required to document a claim. Veterinary services such as necropsy are not covered under most insurance policies, so contact your insurance representative and discuss your options.
Comparison shopping
You should understand the differences between horse insurance policies as a horse owner. For starters, you should compare the cost of the different policies. In addition to price, you should also consider the insurance carrier’s reputation and how long it has been in business. You may be eligible for a discount if you buy insurance for more than one horse. Finally, you should consider the experience of the insurance agent. This will make the entire process much easier and less stressful.
Before buying any insurance policy, read the fine print of the policy. Always ask all questions, especially if you are unsure about what the policy covers. You also need to be clear about your responsibilities in an emergency. For instance, you should understand the process of euthanasia, as outlined by the policy. You can also ask questions about the insurance company and compare policies. This way, you can make the right choice.
In the end, compare the price of the coverage provided. Some insurers offer a lower premium if you pay a higher excess. Make sure to consider your horse’s current value before choosing a policy. You do not want to pay more than you need to. In addition, you don’t want to pay more than you need to for horse insurance. But if your horse has a problem or injury, you want to resolve it quickly. If you have an accident and need to claim on your insurance, you don’t want to be in financial hardship.
