Welcome to the New Year – 2018. The month of January finds us engaged in financial planning and budgeting. And the budget may include the expense of caring for your horse(s) and the added expense that comes with attending horse shows! Ask yourself – how difficult would it be to purchase another horse if one you owned became ill or was injured, and despite the best veterinary treatment, could not be saved?
To obtain insurance on your horse or not is a personal decision we make based on a number of considerations.
There are those that will take their chances, play the odds and decide against it. Some choose to self insure and absorb the loss while at the other end of the spectrum; some will insure everything they own. For many, the question is simply, can I afford NOT to carry insurance on my horse(s) and for some, it is a business decision.
If it would be difficult to rationalize buying another horse; if it would be a burden to pay medical bills for an illness or injury out of pocket, then it makes good sense to insure your horse. We all dread colic (leading cause of death), for example, and the cost of surgery and related medical expenses can reach five figures. Actually, the cost to insure the life of a horse is not overly expensive and there are a lot of options available for additional protection. Mortality coverage is available on foals at 24 hours of age and horses up to age 20. Major Medical (which includes surgery) is available at 30 days of age to age 20 with a range of annual limits to choose from.
Consult with a Blue Bridle agent regarding coverage that can be added to the mortality policy. For example, you may choose surgical and/or colic endorsements in addition to or in place of major medical. Ask about co-pay and deductibles that may apply. An agent will help you to select what best suits your needs.
The decision to euthanize a horse is an emotionally painful one. In addition to providing some peace of mind, horse insurance can restore you financially and so for many, it is a sound investment.