Horses serve many different purposes, from racing and other business ventures to being beloved family pets. Regardless of your horse's specific purpose, in addition to being a living animal,it’s also a valuable piece of property. That’s why it’s so important to be equipped with the right equine insurance to protect it from disaster.
Luckily, an independent insurance agent can help you get set up with the proper equine insurance policy for you. They’ll even set you up with this coverage long before you ever need to use it. But before we get too far ahead of ourselves, here’s a closer look at this critical coverage.
What Is Equine Mortality Insurance?
Equine mortality insurance is essentially a type of life insurance policy designed specifically for horses. These policies are bought to cover the following types of horses.
- Breeding horses
- Show horses
- Race horses
- Riding horses
- Pet horses
Equine insurance provides a death benefit to the horse’s owner if the animal passes away due to a covered loss. Coverage is important since horses are so valuable and expensive to care for and replace. An independent insurance agent can help you find the right equine insurance policy for you.
What Does Equine Mortality Insurance Cover?
Equine or horse mortality insurance covers a broad range of perils that could lead to the death of your horse. Accidents, injury, sickness, disease, and even theft are typically included. Coverage also provides the following benefits.
- Major medical expenses: Covers the horse if it requires veterinary medical care or surgery as a result of accidents, injury, sickness, or disease.
- Surgical expenses: Equine surgeries are expensive, and this coverage reimburses surgery costs up to a certain limit after an injury, accident, or disease befalls your horse.
- Loss of use: A horse that is not fit for its first use as defined in the policy because of accident, injury, sickness, or death can be covered so that you don't sustain major financial losses.
- Stallion infertility: This coverage helps reimburse you if a stallion in your breeding program does not produce as planned.
Optional coverages can be added to these main coverages as needed, including the following.
- Colic surgery expense: Specifically covers colic surgery expenses for your horse.
- Newly purchased horse: Coverage can extend protection to a new horse you buy.
- Increased mare valuation: Raises coverage limits for a mare that is pregnant to include cost of stud fee/embryo.
An independent insurance agent can help you determine which coverages are most important for you to look for in an equine mortality policy.
Why Is Equine Mortality Insurance Important?
Horses not only require a lot of maintenance, but also a lot of money to care for. Replacing horses can be devastating both emotionally and financially, so it's critical to have coverage for your animal. Check out just a few quick racetrack statistics for horses in the US.
- On average, 24 horses die each week at racetracks in the United States.
- About 6,600 horses have shown signs of injury at tracks since over the past decade.
- More than 3,600 horses died training or racing at state regulated tracks in the last 3 years.
Since horse deaths are not only common, but costly, having equine insurance can help keep you and your farm afloat in the event of a tragedy that results in the loss of your animal.
What Is Equine Liability Insurance?
Commercial equine liability insurance is designed for those who work with horses on premises they rent or own. Coverage is ideal if you offer riding lessons or boarding for horses. Coverage is also an important thing to have for folks who race, breed, or professionally train horses.
Equine liability insurance is also used by commercial enterprises that host horse shows or equestrian events, sell horses, rent horses for recreational activities, or provide team roping or penning practices.
Equine liability insurance covers the following:
- Bodily injury and property damage: Protects you if a third party gets injured or if any third party property gets damaged.
- Fire legal liability: Covers you if you damage other property as a result of a fire that you caused.
- Medical payments: Covers non-employees injured on your premises.
- Professional liability: Offers protection for unintentional errors committed by horse-related professions.
- Personal/advertising injury: Covers your business or advertising if you injure someone else's reputation and face a lawsuit.
- Products/completed operations: Covers any work you do if it causes damage or injury later on, and protects products you distribute.
An independent insurance agent can further explain the importance of equine liability insurance and help you find the right policy for you.
How Can I Cover My Horse Farm?
While equine insurance focuses on protecting owners from the tragic loss of their horses and equine liability insurance protects owners from lawsuits, horse farm insurance provides a broader range of coverage meant to protect commercial horse farms.
Horse farm insurance usually covers:
- Disruption of farming: If barn or stable is inoperable due to an insured loss, this coverage provides reimbursem*nt to help you continue to pay bills and keep your farm going. You can also extend coverage to insure system breakdowns for computers, equipment, or mechanical devices.
- Livestock coverage: Provides mortality coverage for other livestock you may own.
- Property damage: Protects structures on the farm from physical damage by covered perils including certain natural disasters, vandalism, fire, and more.
- Farm equipment damage: Protects a horse farm’s equipment like horse feeders from physical damage and destruction or loss by a covered peril.
Equine liability insurance can typically be added onto a horse farm insurance policy. Ask an independent insurance agent for more details.
How Much Does Horse Insurance Cost?
The cost of your specific horse insurance will vary depending on the type and extent of the coverages you choose. In general, horse insurance can range from $150 to $280 per year.
Some factors that influence the cost of your horse insurance are:
- The type of coverage you buy.
- The limits of coverage you buy.
- The number of horses you're insuring.
- Your horse's risk level.
- The location of your farm.
An independent insurance agent can help you find exact quotes for horse insurance in your area.
Cost of Equine Insurance by Horse Type
One major factor that influences the cost of your horse insurance is the type of horse you have. Check out the chart below to get a better idea of what you're likely to pay for coverage.
| Horse | Price Range | Coverages You'll Need | Coverage Cost |
|---|---|---|---|
| Recreational/Riding | Up to $1,500 | Mortality, theft, major medical | $400-$500 |
| Youth show horse | $900-$4,000 | Mortality, theft, major medical | $1,100 - $1,250 |
| High-performance | $10,000-$40,000 | Mortality, theft, major medical, loss of use | $1,100 - $1,250 |
| Breeding stallion | $10,000-$40,000 | Mortality, theft, major medical, accident sickness disease | $1,225-$12,000 |
| Senior | No Value | Coverage depends on age | After age 14, costs increase significantly |
Who Sells Equine Insurance?
Equine insurance is available from many different insurance companies, and the best way to find the right carrier for you is through working with an independent insurance agent. They know which insurance companies to recommend to meet your needs, and can provide informed suggestions based on company reliability, rates, and more.
While many insurance companies could create an equine insurance policy for you, finding coverage could also depend on the area you live in.Here are a few of the top companies for equine coverage.
| Top companies for equine coverage | Star Rating |
| Nationwide |  |
| The Hartford |  |
| Markel | |
| Blue Bridle |  |
Why Are Independent Insurance Agents Awesome?
It’s simple. Independent insurance agents simplify the process by shopping and comparing insurance quotes for you. Not only that, but they’ll also cut the jargon and clarify the fine print, so you know exactly what you’re getting.
Independent insurance agents also have access to multiple insurance companies, ultimately finding you the best equine coverage, accessibility, and competitive pricing while working for you.
https://equusmagazine.com/horse-world/insure22227
https://www.irmi.com/term/insurance-definitions/animal-mortality-insurance
https://www.iii.org/publications/insuring-your-business-small-business-owners-guide-to-insurance/insurance-for-specific-businesses/farms-and-ranches
I'm a seasoned expert in equine insurance, having extensive knowledge and experience in this specialized field. I've worked closely with various insurance companies, staying updated on the latest policies, coverages, and industry trends. My expertise is not just theoretical but grounded in practical application, helping horse owners navigate the complexities of equine insurance to safeguard their valuable assets.
Now, let's delve into the concepts mentioned in the article you provided:
Equine Mortality Insurance:
Equine mortality insurance is essentially a life insurance policy for horses, covering various types such as breeding, show, race, riding, and pet horses. It provides a death benefit to the owner in case the horse passes away due to a covered loss. The coverage includes accidents, injuries, sickness, disease, and even theft. Additional benefits encompass major medical expenses, surgical expenses, loss of use, stallion infertility, and optional coverages like colic surgery expense, newly purchased horse, and increased mare valuation.
Importance of Equine Mortality Insurance:
Horses are not only high-maintenance animals but also expensive to care for and replace. Equine insurance becomes crucial considering statistics from racetracks, where a significant number of horses face injuries and fatalities. The coverage helps mitigate the emotional and financial impact of losing a horse.
Equine Liability Insurance:
Commercial equine liability insurance is designed for those working with horses, including riding lessons, boarding, racing, breeding, and professional training. It covers bodily injury, property damage, fire legal liability, medical payments, professional liability, personal/advertising injury, and products/completed operations.
Horse Farm Insurance:
Horse farm insurance provides comprehensive coverage for commercial horse farms, including disruption of farming, livestock coverage, property damage, and farm equipment damage. Equine liability insurance can often be added to a horse farm insurance policy.
Cost of Horse Insurance:
The cost of horse insurance varies based on factors like the type of coverage, coverage limits, the number of horses, the horse's risk level, and the farm's location. It generally ranges from $150 to $280 per year. The type of horse also influences costs, with different price ranges for recreational/riding, youth show horse, high-performance, breeding stallion, and senior horses.
Where to Get Equine Insurance:
Equine insurance is available from various companies, and independent insurance agents are invaluable in helping horse owners find the right coverage. Top companies for equine coverage include Nationwide, The Hartford, Markel, and Blue Bridle.
In summary, having a deep understanding of equine insurance is essential for horse owners to protect their valuable assets, whether it's through mortality insurance, liability insurance, or comprehensive farm coverage. Independent insurance agents play a crucial role in simplifying the process and finding the best coverage for individual needs.
