The Importance of a Horse Medical Insurance Policy

One of the best pieces of advice that you could receive for a horse owner is to get them a medical insurance policy. A horse medical insurance policy can help you recover treatment costs and cover any legal expenses due to your animal’s illness. While it is essential to have insurance in any situation, it is especially vital for the owners of animals that require expensive medical treatment.

Loss-of-use coverage

Loss-of-use coverage is horse medical insurance that pays a predetermined amount when a horse can no longer compete. It extends other equine medical insurances and may be added to a total mortality or theft and damage policy. While the loss of use coverage can be confusing, it’s essential to know what it does and doesn’t cover. Typically, the maximum amount paid is 60% of the insured value. In addition to protecting your horse’s weight loss, loss-of-use coverage can also reimburse you for veterinary bills and provide a hefty payout if your horse’s career ends. Many loss-of-use policies are available, ranging from external Injury only to complete loss of use. External Injury Only covers horses injured during an accident, while Full Loss of Use covers unsoundness that results from a disease or an injury. The best way to find out which type of loss-of-use policy is right for you is to ask a veterinarian or agent. They can explain the benefits and drawbacks of each and help you to choose the plan that best suits your needs.

Primary medical/surgical coverage

Primary medical/surgical coverage for horses can help you afford treatment for your horse in an emergency. However, it is essential to understand that the policy will only cover veterinary costs incurred from an illness or Injury. There are two main types of primary medical/surgical coverage for horses. The first is the standard policy, which is available at a flat rate. This type of insurance pays a portion of your veterinary bill, and the procedure is subject to a per-claim deductible. The second type is a loss-of-use endorsement, which pays for a percentage of your horse’s value if it cannot perform a specific function. These policies are usually quite expensive, so make sure that you carefully consider the out-of-pocket expenses before deciding. A central medical/surgical policy for horses typically includes diagnostic procedures, medications, and surgical treatments. In addition to these expected benefits, there are also some lesser-known features of a medical/surgical policy.

Care, custody, and control liability coverage

If you own a horse, consider getting equine medical insurance. This type of coverage will help you to pay for unexpected costs. The insurance company will examine your bill and reimburse you according to the policy’s terms. Horse owners can choose from a variety of policies. You must protect yourself with horse insurance if you own or care for horses. The good news is that if you are insured, you can rest easy knowing that your veterinary bills will be covered. The horse medical insurance industry has developed several products to keep you and your horse safe. One is the Care, Custody, and Control insurance. This coverage protects you if you accidentally damage a horse while caring for it. Care, Custody and Control Liability Insurance pays for damages, including medical costs, if you injure or kill a horse. While most commercial general liability policies will not offer this type of coverage, some companies do.