Are you the proud owner of a horse? Have you bonded so closely with your pet that he/she becomes a part of your life? While you would undoubtedly enjoy every minute that you spend with your horse, you would also agree that it costs you a lot to maintain it, wouldn’t you? So how would you feel when your horse gets injured, stolen or just passes away (due to age factor) one sudden day? You would feel depressed to the core, isn’t it?
Apart from the mental dilemma caused due to missing your horse, you would also face a huge financial dilemma as you would have invested quite heavily on your horse. So how do you cover these financial losses? This is a where a horse insurance policy comes as a huge blessing for you.Here are the top reasons as to why you need a horse insurance policy.
1. Medical and surgical reasons
When your horse has to be taken to the vet for a general check-up, common problems or serious surgeries, it costs you a lot. Therefore, you need to take a medical and surgical insurance to get coverage for these costs. Equine insurance costs and terms differ based on the age of your horse and the hospitalisation terms and offers of each service provider. Do a thorough analysis and opt for a policy which gives you good value for your money.
2. Mortality Insurance
When your horse dies in an accident or gets stolen, your mortality insurance policy stands in good stead for you. In these cases, the insurance company pays you the full value of your horse (terms & conditions apply) so that you don’t face any major financial losses. There are two types of mortality insurance policy –full mortality and limited mortality. You can check with your service provider and choose the plan that suits you the best.
3. Loss of Use
If the horse was your major source of income and if it has become old and unusable now, you lose a considerable part of your income. This is where a loss of use policy will be very helpful for you. This policy will cover you against the loss of income that you would suffer because of your horse becoming useless. You need to have a medical insurance policy for your horse when you want to claim benefits under this policy.