How much is horse insurance? This question is asked all the time and the frustrating thing is that there is no single easy answer because the cost of horse insurance depends upon a large number of different factors like the type of coverage. The only way to get a good idea of the cost of horse insurance is to fill out an application and ask for a quote.
Mortality Insurance for Horses
Mortality insurance does exactly what it says. It protects you in the event that your horse dies. It is like life insurance, except instead of covering people it covers your horse. The reason to get this insurance is that it will help you buy a new horse in the sad event of your current horse dying. So if you are willing to pay for a new horse out of pocket, then you don’t really need this insurance. But if you don’t have a hedge fund salary, then the cost of replacing your horse out of pocket might be too much to bear and that is what this coverage is for.
Major Medical Insurance for Horses
Major medical insurance is also aptly named. It covers you in the event that your horse requires medical care. You probably already know how high a veterinary bill is for a dog or a cat. Well the veterinary bill for a horse is much, much higher because a horse is a much bigger animal and it is much harder to treat. Furthermore, more things can go wrong medically for horses than most other pets. So unless you are independently wealthy, getting this type of coverage is usually a good idea.
Additional Factors that Influence the Cost of Horse Insurance
Some other factors that influence the cost of horse insurance are the value of the benefit that you are seeking and the exemptions to the coverage. The higher the benefit you want, the more it’s going to cost you. Obviously it costs a lot more to insure a horse for a million dollars than for a thousand dollars.
It is very important to examine the exemptions when comparing how much horse insurance costs. A policy with a lot of exemptions will be a lot cheaper than a policy with few exemptions, but it will offer you significantly less protection in the unfortunate event of your horse dying or running into medical problems.
The age and the breed of your horse also play a big factor in the insurance premiums that you will have to pay. As your horse gets older you will obviously have to pay more for mortality insurance. In addition, certain breeds of horse are more vulnerable to certain expensive medical conditions, so their medical coverage will cost more.
So when it comes to horse insurance, pay attention to all of these factors when considering its cost. But the main thing to consider is the coverage that is provided. You should not sacrifice coverage in order to save a few bucks. Cutting corners is not a good idea when it comes to insuring your equine friend.