The latest available figures for the number of horses in the world show that there are over 58,372,106, with the United States reporting the highest total number of horses with 9,500,000, and the UK horse poulation over 1,000,000.
Given these numbers many insurance companies have started or improved their horse insurance policies. With veterinarian bills rising and the many diseases and calamities that can befall equines, many horse owners are turning to insurance to protect their equines and their bank accounts.
Equine Insurance policy options
Inexpensive Horse Insurance – the least expensive equine insurance policies will give you the basic protection for your horse, with a fixed limit on both the length and cost of any treatment. Because of the limited coverage, any long term illness will mean the owner will have to pay the bill and as a result will not be able to take out any new horse insurance to cover existing ailments. Because of the high cost of the horses and the treatments involved, horse owners tend to look to a higher value insurance for their horses.
Mid Range Horse Insurance – This is the next step up from the cheaper horse insurance. The basic differences are the longer length and cost of treatment that are covered. Long term illness would not be covered after the initial time period has elapsed, and it would be nearly impossible to obtain insurance for that treatment elsewhere.
Lifetime Equine Insurance – when you consider the cost of buying and owning a horse, most people feel safer with lifetime horse health insurance. This takes away much of the pressure with regard to vet fees, and, while there is a maximum amount payout per year in many cases, the amount available for payout goes up again when the policy is renewed, even for existing ailments. Lifetime coverage also means for the full term with no small print excluding horses after a certain age.
Equine Vet Costs
Horses cost a substantial amount to house and feed and their regular vet costs can be substantial. It is essential that you compare horse insurance quotes. Online horse insurance quotes are readily available and you can find most of the prominent horse insurers online.
Equine Quarantine Costs
While the overall cost to quarantine a horse can be high, it will depend on if the horse travels overseas or may come into contact with a condition which requires the isolation. Horse quarantine fees can be substantial to say the least and many people are not in a position to cover them at short notice. This is where the best equine insurance policies will come into play and offer much needed assistance.
Lost Horse / Horse Theft
The number of horse thefts and lost horses is substantial, and, while many are returned unharmed and fairly quickly, it can be hard work find and retrieving them. Many of the better equine insurance policies will offer assistance towards the cost of advertising for the return of a lost horse as well as a reward for their safe return.
Horse Treatment Costs
The increase in costs and horse insurance premiums which has attracted many of the larger insurance companies are related to the obvious need for veterinary specialists and veterinary equipment when dealing with horses, something which is reflected in both the maximum payouts and horse health plan premiums.
Horse Accident Coverage
Horses are finely tuned animals that are susceptible to strains as well as serious injury. Even the cost of a small strain can prove to be expensive when taking into account vet calls, transportion, medicine and time. While the increased cost of care is reflected in the premium levels, this is a market where a comparison of horse insurance coverage can yield rewards in money saved.
Lost Equine Passport
The Equine passport market is one of the largest in the country and as more and more horses travel overseas it is essential to keep a check of their movements and ensure that the correct procedures are adhered to. Equine passports can be very expensive to replace although many equine insurance policies will have provisions to ensure that replacements are sought as quickly as possible, with the costs covered by the horse insurance companies.
Again, it is important for horse owners to be aware of the advantages of horse insurance and to determine what kind and how much coverage is needed in their particular circumstances.