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Do I
Need
Equine
Insurance?
You may
think
only the
fanciest
show and
race
horses
are
insured?
Think
again!
Whether
your
horse is
a
showing
star or
a
trail-riding
buddy,
an
equine
insurance
policy
can give
you
peace of
mind.
By
Gretchen
Ditto
It's
easy to
tick off
a list
of very
expensive
horses
who
clearly
ought to
be
insured:
million-dollar
racehorses,
Olympic-caliber
sport
horses,
elite
breeding
stallions.
But is
it wise
to
insure
your
"weekend
warrior"
who
picks up
a few
ribbons
every
summer
at local
shows?
What
about
your
backyard
trail
horse?
Or your
daughter's
Shetland?
Does
equine
insurance
make
sense
for
horses
who
aren't
or may
never be
worth
large
sums of
money?
Many
people
would
answer
"Yes.
"You'd
be
amazed
at the
number
of
$2,500
horses
that are
insured.
A horse
is a
major
financial
investment,
regardless
of
purchase
price.
The
ongoing
upkeep
and
maintenance
is
costly
too, and
people
want to
protect
their
investments."
The
number
of
policies
available
to horse
owners
can seem
overwhelming,
including
but not
limited
to:
·
Major
medical
and
surgical
·
mortality
·
loss of
use
·
tack and
equipment
And
that's
not all.
For
those
who
operate
equine
businesses,
the list
of
available
policies
is even
longer:
·
liability
for
trainers
·
property
protection
·
liability
coverage
for farm
owners
·
care,
custody
and
control
·
reproduction
(stallion
and mare
fertility)
·
and even
international
transit.
However,
the
basic
types of
coverage
purchased
by most
horse
owners
are
mortality
and
major
medical
policies,
which
roughly
correspond
to life
and
health
insurance
for
people.
Generally,
mortality
insurance
reimburses
a horse
owner if
the
horse
dies.
Depending
on the
policy,
the
owner
may
receive
payment
for the
full or
partial
value of
the
horse.
Medical
and
surgical
policies
cover
the
costs
associated
with
treatment
of an
injury
or
illness.
An owner
can
purchase
mortality
coverage
alone,
but
medical
and
surgical
policies
are
generally
available
only in
combination
with
mortality.
Given
how
time-consuming
it can
be to
research
different
policies,
it may
be
tempting
to
simply
gather a
handful
of
quotes
and pick
the
policy
with the
lowest
premium.
If you
do,
however,
you'll
risk
overlooking
some key
differences
among
the
insurance
options.
That's
where an
insurance
agent
can
help. A
good
agent
will be
able
answer
your
questions
and help
clarify
the
sometimes
confusing
language
found in
policy
statements.
Some
agents
work for
a single
insurance
company;
others
operate
as
independent
brokers
representing
a large
pool of
carriers.
Many
agents
sell a
wide
range of
consumer
and
commercial
insurance
policies,
but some
concentrate
on
equine
insurance.
Whatever
an
agent's
professional
specialization,
experience
with
horses
is
crucial.
Whether
you're
working
with an
agent or
doing
your own
legwork,
it's
wise to
educate
yourself
on the
basics
of
equine
insurance.
There is
plenty
for
basic
information
searchable
online.
Gretchen
Ditto
specializes
in
freelance
writing
and
corporate
communications.
She
lives in
Thousand
Oaks,
Calif.,
where
she does
a little
eventing
in her
spare
time.
This
article
first
appeared
in the
May 2000
issue of
EQUUS
magazine.
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