If you own a horse, there are several vital facts to know about horse insurance:

1. This type of insurance is cheaper than health insurance for humans.
2. You should know about the policy’s exclusions and waiting periods.
3. It is important to communicate with your insurance agent to make sure your policy covers the things you need.

Less Expensive Than Human Health Insurance

Equine health insurance is available in various forms and can protect your investment and business from potential financial disasters. However, the cost of some medical treatments and surgeries is prohibitively high, and some types of insurance are more expensive than others. In general, equine health insurance does not cover pre-existing conditions.  Many veterinarians have a hard time making ends meet, and a large percentage of new graduates have debts that can take a lifetime to pay off. This means that many veterinarians cannot provide all the services and medications necessary to care for an unplanned influx of the horse population.

Exclusions From Coverage

Horse insurance policies exclude certain conditions and illnesses from coverage. These conditions and illnesses can include a history of illness, previous injury, or surgery. However, depending on the policy, you may be able to remove these exclusions after a specified period. Generally, insurers do not cover pre-existing conditions, but underwriters will choose to exclude specific problems when they evaluate your horse’s health.

One of the most common exclusions of horse insurance policies is loss of fertility. This will exclude coverage for any conditions or diseases the horse may have during its first 14 days of coverage. Other exclusions include injuries caused by the horse’s owner or other pre-existing conditions. Some policies also exclude coverage for deworming. To avoid this, you should clearly define the purpose of your horse insurance coverage. You can include comments on your health certificate and insurance application indicating your intention to use the insurance for veterinary services. 

Waiting Period For Coverage

If you have purchased a horse insurance policy for your equine friend, it is important to know the waiting period before filing a claim. In some cases, the insurer will require a 14-day waiting period. The insurer can deny the claim if you cannot submit a claim during this time. In this case, you will be responsible for the cost of the treatment. Before applying for a policy, be sure to review the terms and conditions of the policy thoroughly. There may be conditions, exclusions, and excesses to consider. You may also be required to meet specific acceptance criteria or pay an additional premium. 

Cost Of Policy

The cost of horse insurance varies depending on your coverage, where you live, and the type of horse you own. However, you should expect to pay between two and four percent of the horse’s value each year. Most policies require a minimum premium of about $150 per year. In most cases, you can save money by opting for a surgical-only policy. This type of insurance pays only for surgical procedures and does not cover diagnostic tests or hospitalization fees.

Horse insurance premiums can be much lower for younger horses, while they can become more expensive if they become older. However, it is still essential to consider your horse’s age and health when choosing a policy. Older horses are more prone to injury or illness. Additionally, you should check your horse’s health before purchasing insurance since many policies do not cover certain conditions.

The most common types of horse insurance are mortality and primary medical coverage. These policies are similar to human health and life insurance. Mortality insurance reimburses the owner for the horse’s value should it become unfit for riding. On the other hand, medical and surgical insurance policies cover the costs of medical care for a horse in case of an accident. Both types of insurance are available separately or together. The horse insurance cost will depend on how much coverage you need and where you live.