Protecting Your Investment

Whether you are buying additional breeding stock, a prized racing horse or just a barrel racing horse for your children, this will be an investment. Horses can be a large investment of time and money for anyone. This is not to mention the emotional value that some horse owners place on their animals. When you purchase a car or home you place insurance on these items. When you are buying a race horse you are not required to place insurance coverage on the animal. Many owners are unaware of the option of obtaining coverage. When you are spending $20,000 to $50,000 on your investment, why not consider protecting your asset with horse mortality or horse health insurance.

Colic is a major concern for horse owners. There are serious implications that can make a treatable situation get very expensive. Studies have indicated that approximately 10 percent of the horse population will suffer an episode of colic each year and approximately 3 percent will die each year. Most horse owners know that if you catch the onset of the symptoms you can minimize the cost and damage that colic can bring. The expense of treating a downed horse can be sizable. Surgery can be an option with the help of health care coverage. Surgery can reduce the number of horses that are put down as a result of colic. More than 64,000 horses may die from colic-related problems each year. Many of these horses could have survived if not for the expense of treatment. The average cost of colic being treated medically is approximately $2,500. If the problems with colic escalate to needing surgery then the cost can triple.

Most owners need to make a decision based off of the bottom line and justify the expense of surgery. The expense doesn’t need to be the driving factor any longer, other more important factors are age and health and the option to prolong your horse’s life. There are now ways to mitigate the need of putting down your horse, because of the cost. Consider that insurance can pick up a set expense. The coverage is spelled out in easy to read language. Equine insurance and health policies can be purchased together or separate. Colic is just one medical condition that can strike with no warning, and can be an unexpected expense.

Horses that are truly making money for an organization, whether for breeding fees, race purses, or events that are earning you an income, insuring them is vitally important. The cost is relatively low for both Mortality and Health coverage; it is based off the hors’s value and training or earnings. Some companies offer a package and can be as low as $300 per year. Make sure the insurance company has nationwide coverage and always check the exclusion page of every contract. Most will cover the horse in transit from one location to another. The insurance carriers will request positive ID of your horse so tattoos and other information will be requested at the time of application.

Insured value may be equal to the purchase price, and may be increased if justified by performance, shows, racing and breeding records. You will be required to submit information such as bill of sale, registration papers and show/breeding/race records. Once the decision to purchase insurance is made, an insurance agent with experience in offering horse insurance can help you sort through reputable companies, their policies and options.

Article submitted by Dawn Fisler of The Fisler Insurance Agency