Do I need horse insurance?
What does horse insurance cover?
Different providers will offer a different range of policies with different levels of cover and different key benefits. Getting a policy that suits your own individual needs and personal situation is key. Whether you are looking for a policy with all the bells and whistles, or a policy that is more restricted, whether you are looking to cover the family pony or an Olympic hopeful, having horse insurance can offer peace of mind and ease the burden in a stressful situation.
Some of the common policy inclusions can be broken down into the following key areas:
- Mortality
Mortality insurance provides cover should the worst happen and your horse either dies or has to be destroyed due to an accident, illness or disease. Owners could receive a pay-out that equates to the insured value or market value of the horse and can receive financial compensation for disposal and removal costs.
- Theft and straying
No owner wants to think of the situation where their horse is stolen. Insurance for theft and straying can provide financial support for trying to locate you horse, and if not found within a certain time frame it could also pay the sum insured or market value of the horse.
- Loss of use
Possibly one of the most debated elements of a horse insurance policy with many questioning what constitutes loss of use and whether it is worth it. Permanent loss of use is an optional extra and will provide cover should your horse no longer be used for the activities you insured it for. An agreed sum will be paid by the insurer with the aim that another horse can be procured for that value.
- Vets fees
The most common reason for owners wanting to insure their horses – cover for vets fees. This can be cover for investigative actions should your horse suffer a loss of performance or become lame for a reason that is not immediately obvious. Vets fees cover can also be limited to accidental and external injury, such as being kicked by another horse or an external injury caused by hitting a cross-country fence. Depending on the policy selected insurance for vets fees can up offered, typically up to £7,500. This can include alternative treatments, livery charges whilst at the vets and transportation costs to and from surgery.
Ready to discuss your customisable and comprehensive insurance options? Call Shearwater Insurance to speak to an experiences advisor on 01992 367111.