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Horses can be expensive to own. The purchase price can be high, and on top of that, you need to consider stables, riding equipment, grooming needs, food and upkeep, and that’s before you even get to veterinary bills. If you’re worried about the theft of your saddlery and tack, expenses related to mortality, or even if you’re concerned about liability in the case that your horse injures someone else, insurance can help.
What is horse insurance?
Equine pet insurance, like other pet insurance, helps provide financial peace of mind by providing cover and potentially greatly reducing unexpected out-of-pocket expenses. There are generally two main types of horse insurance available, along with a range of optional extras – standard horse insurance and third party liability.
Standard horse insurance
This type of horse insurance usually includes mortality, theft and straying, with the option to add veterinary fee cover. If your horse dies or is put down due to illness or injury and you have this insurance, you can make a mortality claim. Straying cover applies to horses who have an adventurous streak or were spooked and have ‘strayed’ or run away.
Unfortunately, as horses are a valuable asset, they can become a target for thieves. If your horse is stolen and you have this type of policy, you can make a theft claim. There is also an option to add veterinary fee cover. Like domestic animal vet cover, it covers the cost of vet fees resulting from accidents, injuries or illnesses during the period of insurance.
Third party liability insurance
Horses can be unpredictable, risking potential harm to themselves, others and property. Third party liability covers the cost of a situation where a third party is injured or their property damaged by your horse, and is seeking financial compensation as a result.
Optional extras: float, disposal after death, saddlery & tack insurance
Some insurers offer cover for trailers used to transport horses or horse-drawn vehicles. This cover applies to repairs or replacements of floats that are damaged, stolen or destroyed. The disposal after death cover will pay a set amount for the removal of the body, whether the horse passes away naturally or is humanly put down.
Loss, theft or damage to saddlery equipment can set you back hundreds of dollars. Like contents insurance policies, each item will have a pre-determined limit, and you must provide a proof of purchase to make a claim. It’s also important to remember that in order to be eligible to make a claim, the stolen saddlery and tack must have been kept in a locked tack box, building, or vehicle.
How much does horse insurance cost?
The cost of a horse insurance policy can vary based on a number of factors. These can include your horse’s:
- Age
- Gender
- Breed
- Value
Some other factors influencing price can include the type of policy, how many horses you’re insuring, the cost of extras like floats, saddles, harnesses and horse trailers. Read the product disclosure statement (PDS) and terms and conditions of your chosen policy to find out more about cost.
What are horse insurance exclusions?
Just like other pet insurance policies, horse insurance has a number of exclusions that are not covered by the insurance provider. A few of these include:
- Pre-existing conditions: If your horse has a previous history of injury or illness and you didn’t disclose this to the insurer when taking out cover, you could be excluded from making a claim.
- The age of your horse: Some insurers will not accept an application for insurance if your horse has reached a certain age. There are separate ‘veteran’ policies that could be taken out instead.
- Not taking proper precautions: For example, if your horse succumbs to a disease because you didn’t give them a vaccine, you may not be able to claim.
- Pregnancy: Depending on your insurer, some do not cover pregnancy unless your horse is specifically used for breeding. It’s important to read the PDS before purchasing insurance so you understand what you’re covered for.
How do you make a horse insurance claim?
Each insurance provider will determine the process for submitting a claim. Some can be submitted online while others have to be physically mailed, so check with your individual provider to see what you have to do.
Typically, if you are claiming for the loss of your horse, you will have to provide a copy of the invoice from your vet, as well as a copy of the post-mortem examination and autopsy report completed by a licensed veterinarian.
If you are claiming for theft of your horse, saddlery, tack or float, you will need to contact the police and provide evidence of the police report to your insurer. You will also be required to prove ownership of items with a receipt.
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