Owning and caring for a horse can cost a lot of money. Food, shelter, riding equipment, transport and many other things all mount up. Equine insurance is another cost on top of everything else, but there are excellent reasons for having it. It covers you when you have vet bills for illness or injury to pay for, and can also protect you if your horse injures anyone. Many people are hesitant to take out insurance, feeling that it’s a waste of money. But taking the risk that nothing will happen can come back to bite you. Before you pass on insuring your horse, consider these reasons to take out insurance.
Budget for Bills
Being able to pay for your own medical care is essential, so there’s no reason to neglect your horse. Of all domestic and working animals, horses have to be one of the most expensive to care for. It’s no different with their veterinary bills, which can be extremely costly. You can easily budget for routine care, such as vaccinations or worming. But you never know when your horse might become ill or injured. It’s much better to have a set amount you know you have to spend on insurance each month. Otherwise, it’s all guesswork as to how much you might pay in one year.
Third-party Liability
Horses are big animals, and they can cause injury both to riders and to anyone standing near them. Regardless of whether you have been negligent or not, you could be liable for any injuries your horse causes. One of the essential parts of taking out equine insurance is third-party liability. It will cover you if someone falls from your horse, is injured by a hoof, bitten or something else. Make sure you choose a company such as Stoneways Insurance that offers equine liability cover as part of their policies. It will help avoid having to spend a lot of money defending yourself against civil action.
Care for Older Horses
Older horses can be difficult to care for. You may have a horse that worked or was ridden when they were younger. But now they might be living out their last few years in a comfortable field. Your horse still needs to be insured, but not in the same way as before. You can still be insured for your tack, accidents and third party liability. However, you can pay for restricted cover for death and veterinary bills.
Cover Your Trailer
Horses sometimes need to be transported, and you need to protect your trailer when you do it. You can also insure your trailer, which will protect you against theft and damage. Some insurers ask that you have a security device in your trailer before they will cover you. It doesn’t protect your horse directly. But trailer insurance is another way to help reduce the costs of caring for your equine friend.
Taking out insurance for your horse is a wise thing to do. Start comparing different providers and policies to find the best plan for you and your horse.