Owners of horses in Texas have an enormous amount of responsibility as it does not only require full time commitment, but also a great amount of financial capacity to cover costs related to the food of the animal as well as livery fees.
Having a horse means needing a huge amount of investment which is why it is very important to secure it with the right type of equine insurance coverage. Providing the horse with a maximum insurance coverage also protects the owner from incurring big amounts personal losses.
If you own a farm with horses or other livestock in Texas, it is necessary that you protect your property from any type of liability. To achieve this, owners may find help from an insurance company and ask about their services and insurance coverages that are related to what you need whether it is a coverage for your farm, your livestock or for your horses.
Protect your equine business or your personal horse farm by purchasing the right insurance policy. Contact your insurance agent and see their menu of coverages that are related to horses and do not hesitate to get a free quote.
Equine Coverages to Protect your Horse
A typical equine insurance offers protection for the theft or straying of the horse as well as the death of the animal, vet expenses, public liability insurance, permanent loss of use coverage, and personal accident coverage.
By providing your horse with the best insurance coverage, you can get additional coverages that you can simply add to your horse insurance. Call your agent to know more options. Other available policies may include surgical endorsement, livestock mortality or theft, colic endorsement, prospective foal insurance, air transit endorsement, medical assistance endorsement with different coverage rates such as $7,500, $10,000, and $15,000 limit, and accident/disease/ fertility endorsement, and a lot more.
As equine owners, mitigate your losses and risks that involve your animal as well as your property and other activities that are associated with it. Contact an insurance agency that offers rates that are competitive but would give you maximum protection. Also, look for an agent who would not only offer a friendly service but someone who is knowledgeable and trustworthy.
Types of Insurance for your Equine
Livestock Mortality / Theft Insurance is a type of life insurance that is designed for a cattle or a horse where the beneficiary is the insured. This is an all-risk policy that would offer protection for an event such as humane destruction, death, and theft but it is pending some exclusions. This liability insurance will pay for the actual value of the horse during the time of its illness or accident that caused its death.
To be issued this liability policy, the horse to be insured must be in good health condition, and that proper personal attention and care are expected to be given by the owner. In order to get this insurance, vet exams are needed. For foals, they need to be between the years of 24 hours and 12 months or 1 year; for an equine who is from 1 to 14 years old and has a value of more than $1oo,000; and for a horse from 15 years old and up with a value of $50,000 and above.
Colic Medical Endorsement on the other hand will cover for surgery and colic treatment of the equine who is from 30 days old up to 20 years of age. For each claim, there would be a $250 deductible plus a 20% co-insurance on all treatments. This policy has a limit of $10,000 for each animal annually.
A Surgical endorsement will cover all surgical procedures that need general anesthesia, while a $7,500 medical assistance endorsement policy offers payment for vet expenses in the event of a major medical illness, surgery, or lameness. For this policy, there is a $500 deductible for every claim and a 20% co-insurance on all treatments. This comes with a limit of $7,500 for each horse for each year.
Other policies similar to the ones just mentioned are the $10,000 and the $15,000 endorsements. These provide the same protection as the $7,500 policy but will cover the $10,000 and $15,000 limit for each horse per year respectively. These kinds of policies are designed to help pay for vet costs in case of an unexpected event in the life of the equine.
Procedures and other costs that are not covered by these policies are necropsies, congenital conditions, surgery whether voluntary or elective, and maintenance that includes chiropractic work, injections, swimming, or corrective shoeing. Also not covered is any charge for boarding or hospitalization in a site that is not accredited or licensed as a vet clinic.
The Loss of Use Endorsement protects the owner from costs in case the equine becomes incapable of functioning for its purpose permanently. The owner will be paid 50% of the insured amount and will be able to keep the horse in their possession. This liability insurance is designed for show a horse, a jumper or hunter, dressage, reigning, or cutting.
Accident, sickness, and disease fertility endorsement for stallions used to breed will provide reimbursement up to the actual value of the horse who is from 1 to 14 years of age when it becomes incapable of servicing a mare permanently as a result of an illness or a mishap during which the policy is still in effect.
Air transit endorsement will provide coverage for the horse while it is in air transit. This is not available in all countries and usually provides protection when traveling from Europe to the US. To qualify for this, the horse should be more than 30 days old.
When your business involves horses or if you simply love riding them and owns one, you know that they have so many different needs that you should fulfill. To take care of one is not easy and certainly not cheap which is why providing them with all their needs including giving them the best home and training especially the right insurance to protect them and yourself is really important.
For your insurance needs and to cover everything associated with your horse, get help from an insurance agent who has experience in working on this matter and get a free quote to give you an idea of how much you can afford.
Find a professional who can assist you with your insurance needs and save yourself from unnecessary costs in case of an unforeseen event. Call an insurance agency today and ask for a free quote so you can start protecting your equine and yourself.
Check the menu of the agency if they have public liability insurance as this may protect you in case any member suffers from an injury or a property is damaged due to the action of the horse. An insurance company typically provides a $1 million limit for this insurance.
You may also inquire for personal accident insurance which will give protection to you and to other people who are riding your horse who suffers from accidental injury, death, or permanent disability. For this insurance, you simply have to add around $20 to $40 to your yearly premium. Typical coverage for this around $10,000 up to $20,000.
If the insurance agency also has insurance for vet fees to pay for bills involving vets would be something worth considering as well. Protect your investment by providing it with all its needs including the proper home and training and also the most appropriate insurance. Find a company that has experience with equines and there are surely many of them around your location.
If you are in the horse industry, whether you breed or manages a team, etc., have appropriate insurance for your equine.
Equine Insurance Texas FAQS
Q: How much does equine insurance cost?
A: The cost of equine insurance depends on several factors, including the horse’s age, breed, and value.
A general idea can be 2.5 to 4 percent of the horse’s value. So, for a $10,000 horse, you might pay $250 to $400 per year in premiums.
Generally speaking, the older the horse, the more expensive the insurance. This is because older horses are more likely to suffer from health problems that could require expensive medical treatment.
Q: What types of equine insurance are available?
A: There are many types of equine insurance, but the most common are mortality insurance, which covers the horse in case of death, and medical insurance, which pays for the horse’s medical bills in case of an injury or illness.
Other types of equine insurance include liability insurance, which protects you if the horse injures someone or damages property, and stallion reproductive risk insurance, which covers the cost of stud fees if the horse cannot reproduce.
Q: Do I need equine insurance?
A: That depends. If you have a valuable horse that you use for business purposes, it is a good idea to insure the animal.
You may not need insurance if you have a horse that is not valuable or that you only use for personal enjoyment. However, if you are worried about the financial consequences of an accident or injury, you may want to consider insuring the horse.
Everyone has their preferences, but we always recommend you have equine insurance.
Q: What should I look for in an equine insurance policy?
A: When shopping for equine insurance, ensure the policy covers the horse for its total value. Then, determine what type of medical care is covered under the policy. Last, check to see if any exclusions in the policy could prevent you from making a claim.
By keeping these things in mind, you can be sure to find an equine insurance policy that meets your needs.