subject: Know How the Insurance Policy for Your Horses Work [print this page] Know How the Insurance Policy for Your Horses Work
Whether you own horses for sure, buying and taking care of these animals involve hefty investments. In such a situation, it is important to ensure recovery of any damage to the horses, and the riders or other people associated with the upkeep of these animals. How do you accomplish this?
The solution is quite simple opt for the right policy from reputed and reliable horse insurance companies. Here is the list of things you need to know before you start paying for the policy coverage.
Need for insurance if you think that this is necessary only when you have a horse-related business, it is time to clear your misconceptions. Whether you own single or multiple horses, whether you buy these animals for business or pleasure, whether you have a stable or a ranch, opting for adequate insurance is imperative.
Eligibility for policy the exact details depends on the specific terms of the policy. Check the eligibility criteria regarding three aspects
Age most policies cover 30-day-old foals to 25-year-old horses.
Use whether the policy covers pets or commercially used animals or both.
Health most often, the horses may require undergoing a health check.
Coverage you can avail you need to decide on what coverage you want from the policy. Some of the important things that are essential are as follows:
1) Total loss this would cover the death of the animal as well as situations like theft or straying.
2) Loss of use this would cover serious injuries or illness to the animal resulting in loss of work purpose.
3) Third party liability this would cover any injuries or damages the horse causes to an individual or property.
4) Personal injury this would cover any injuries the animal causes to the individuals working with the animal in a commercial setup.
5) Vet fees and medical treatments this would cover for the medical costs you may need to bear because of your horses' injuries or illness.
Costs you need to bear you can get quotes online and find a cheap horse insurance that does not involve lots of money. However, do not choose a policy just because it is more suitable for lowering costs. Instead, try finding a horse policy that offers good coverage at reasonable expense.
Advantages of insurance just like any other insurance policy, this one too helps you tackle unforeseen unfortunate happenings. Whether you horse suffers injuries or makes another suffer injuries, in both circumstances you, the owner, would be liable for paying the costs. Maintaining a policy helps in such troubled times.
Moreover, this also is beneficial if someone steals your animal or it strays on its own. You could also face financial difficulties if you own horses for a commercial reason, a horse ranch or a stud farm, and these lose their ability to work.
Many a times, such untoward happenings could seriously jeopardize your investment. You never know when such a thing could happen. However, if you have an insurance policy for your horses in place, you are prepared to face any such problem.
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