Horse insurance

Horse insurance is a specialized form of property and casualty insurance that covers horses against risks such as mortality, major medical expenses, surgery, and loss of use. Owners choose policies covering named perils like accident, illness, theft, and transit damage–examples include Markel and Great American Insurance Group.

Major medical coverage pays for veterinary treatment costs from $5,000 to $15,000 annually per policy. Insurers require veterinary exams before issuing policies for horses valued over $25,000.

Loss of use coverage reimburses up to 60% of a horse’s insured value if it becomes permanently unable to perform its insured function–performance or breeding are common examples, as detailed by YourInsuranceInfo. Typical annual premiums for full mortality range from 2.5% to 4% of the horse’s value; a $10,000 horse yields a $250–$400 premium.

Exclusions frequently include pre-existing conditions, elective surgeries, and congenital defects according to underwriting data from insurers like ASPCA Pet Health Insurance. Policies often set age limits for eligibility, commonly insuring horses aged six months to 20 years as documented by American Equine Insurance Group guidelines.

Transit insurance protects horses during transportation within the U.S.–For example: interstate shows or sales events. Some policies allow add-ons such as liability coverage for third-party bodily injury or property damage caused by the insured horse; carriers offering these include Broadstone Equine Insurance Agency.

Insurers typically require prompt notification (usually within 24 hours) for claims involving death or major illness as specified in policy contracts.