In this edition of our equine newsletter we’ll be discussing equine insurance and some of the different types of coverage available to protect your valuable horses and property.

What is equine insurance?

Equine insurance is a specialized type of insurance coverage designed to protect horses, horse owners, and horse-related businesses from financial loss due to a variety of risks. These risks can include accidents, illness, injury, theft, and liability issues.

What are the different types and what do they cover?

There are several different types of equine insurance policies available to meet the specific needs of horse owners. Some of the most common types include:

• Mortality Insurance: This type of insurance policy covers the horse for accidental death, humane euthanasia, and theft. It typically covers the value of the horse as agreed upon in the policy.
• Major Medical Insurance: Major Medical insurance for horses covers the cost of veterinary care for illness or injury. This can include surgeries, medications, diagnostic tests, and other medical expenses.
• Loss of Use Insurance: Loss of use insurance provides coverage if your horse becomes permanently unable to perform its intended use, such as riding, due to illness or injury.
• Liability Insurance: Liability insurance protects horse owners from legal claims or lawsuits that may arise if their horse causes injury to a person or damage to property.
• Farm and Ranch Insurance: This type of insurance provides coverage for the physical structures on your property, as well as equipment, vehicles, and other assets related to your horse operation.

There are also policies available for things such as transit, short-term coverage, stallion infertility, expected foals, fire, lightning, etc.

How does it work?

Equine insurance works similarly to pet insurance for cats and dogs, where the policyholder pays the vet bill and then files a claim for reimbursement. Unlike human insurance, equine insurance doesn’t require the policyholder to reach an annual deductible before receiving reimbursement. Instead, each medical claim is treated individually.

What are things that can affect the cost of equine insurance?

Several things can affect the cost and coverage available through equine insurance policies, including age, breed, the horse’s use, their competition level, their insured value, annual limits, and deductibles.

Some standard exclusions from equine insurance policies may include things such as pre-existing conditions, purposely harming the horse, not using a licensed veterinarian, late reporting of a loss, elective or cosmetic surgeries, or performance-enhancing treatments.

It’s important for horse owners to carefully consider their individual needs and risks when selecting equine insurance coverage. Our experienced agents are here to help you navigate the options and find the right policy to protect your horses and your investment.

Thank you for choosing Galvin Agency for all your insurance needs!