A Horse Is A Horse . . . And Should Be Insured Of Course! Equine Industry Insurance Policies
Are you a horse owner, or even a horse farm owner? If you are, surely you already realize the value you have in your equine investment. What you may not know is that being a horse owner, you face unique property and liability risks. Risks that are usually outside the scope of your basic homeowner’s policy. Don’t get caught in the saddle at claims time, and find out that you are either uninsured or not adequately insured for the charges at hand.
Whether you own one horse or several horses, looking into purchasing Horse or Horse Farm Insurance (Equine Insurance) is a prudent idea.
A form of this coverage is Equine Mortality insurance. This type of policy protects you against financial loss in the event that Mr. Ed suffers an untimely death. Even if you are only leasing the animal and do not own it outright, the policy would cover the loss. To take it a step further, there are two kinds of mortality insurance: Full Mortality and Named Perils. As the names of the insurance suggest, they provide coverage based on different types of causes of death.
With Full Mortality coverage, your policy would render payments for any cause of death – sickness, old age, or accidental. Named Perils insurance, however, is a horse of a different color: only death caused by specifically named types of accidents would be covered. Obviously, since Full Mortality coverage covers the full range of causes of death, that type of insurance is more costly. But if you are limited on funds, have several horses to insure, of if your animal(s) are older in years, you may find that purchasing the Named Perils policy makes better sense for you.
In either case, if you don’t have proper insurance coverage for your horses or your horse farm, quit horsing around! Talk with a knowledgeable farm property and casualty insurance agent today and discuss the advantages and options available to you in purchasing a good Equine Insurance plan. Here’s wishing you Happy Trails!
