Important Things You Need To Know About Equine Insurance
Fri 12 February 2016
Whether you are a horse owner, a rider, trainer or you own a horse business, it is vital to have right type of equine insurance. An equine insurance policy will not only protect you, but also it will protect your equine. It is also vital to keep into mind that financial issues related to horse business and ownership are complicated, especially if they are related to specialist insurance.
Before you take out a horse insurance policy, make sure you know what type of cover you need. But the question is how do you know what type of insurance policy you need? How do you know you are taking out the best policy? There are certain pointers that you should check in order to choose the best policy for your equine business and to protect your equine friend.
First of all, there is equine business insurance that is ideal if you own an equestrian based business. This insurance policy will provide coverage for a number of things. For your equine business protection, make sure the policy you are considering getting covers the same things that a standard business insurance covers. These things may include business owner coverage, property insurance, product liability insurance, errors and omissions insurance and business income insurance. Once you have made sure that your selected policy covers these things, next thing you need to check if the policy protects you should anything unforeseen happens to your horses that are in your care. It is highly recommended to get a policy from a specialist agency that fully understands your particular needs related to equine business.
For example, if you own a business that has something to do with horse breeding, then you will need a policy that provides coverage for this aspect. There are policies that offer coverage for mare and stallion infertility. It is vital to weigh your total costs against risks and possible losses in order to choose the best policy.
Then there is ownership insurance policy. This policy is specially designed for horse owners. You will need this policy because it covers more than just standard pet insurance. It is vital to look for a policy that covers theft and mortality, colic and non-elective surgeries etc. These things will increase the cost of your policy, but it is worth paying more for it. Alternatively, you can look for policies that covers horse owners for sickness, disease and accidents.
Bear in mind that horse ownership is seen as liability by insurance companies. That’s why they charge horse owners a higher amount of money. Therefore, it is important to insure your horses for their value and make sure you are protected with liability cover.
On the whole, keep all these things into mind in order to choose the best equine insurance policy to protect yourself, your horse and your business. In order to get more information about a particular horse insurance policy, you are advised to consult a knowledgeable and reliable equine insurance agent.