If you face an emergency situation with your horse, could you afford getting him treated? What would you do if he died suddenly? How would you replace him, if at all? These are potentially devastating questions with emotional and financial answers. Every horse owner should be able to answer these “what ifs” with confidence.That type of confidence comes with having an equine ark insurance policy. In essence, having insurance could mean the difference between losing him and going bankrupt, and keeping him and remaining solvent. If you are unable to confidently answer “yes” to the above questions, read further for information on getting a new policy or renewing an existing one.Choosing the Right Insurance Company.
Before selecting equine insurance, you want to find an agent who will help you navigate the difficult wording in different policies. You want an agent who will go over the policy and explain the varied coverage options.Additionally, it helps to find someone who is knowledgeable of your specific breed. While exploring policy options, ask questions related to the company. Find out its reputation and financial stability. This is no different than what you would do before entrusting a company to sell you insurance for your family and/or home.You also want an insurance company and agent that is licensed and able to offer insurance in your state. Each state has an insurance fund that protects residents from fraud and other issues that may arise when settling claims. Problems become more difficult if the original carrier is not approved to sell insurance where you live.Selecting a PolicyThe particulars of a policy is what either prepares you or disappoints you when it is time to file a claim. To avoid surprises, ask that the policy include things that really matter. Comparing prices among carriers is good, but do not focus solely on the cost.A low-priced premium might equal cheaper coverage. The financial risk you are willing to take should guide your decision about the cost. Add-ons such as loss of use, major medical and others equals more protection.One important policy to carry for your horse is mortality insurance. Comparable to life insurance for humans, equine mortality insurance covers the death of your horse. Whether the death was due to an illness, injury or accident, you are covered for the loss.Typically, your horse must be sound and insurable before insurance companies will consider extending coverage. Make sure the carrier uses a valuing method to accurately determine how much your horse is worth. This safeguards you against not having enough coverage at the right time.