To those who are not horse owners, the mere mention of insuring them may seem a little odd. However, those who DO own horses, it is a very necessary thing to have. Horses are worth a lot of money, whether they be workhorses or show horses, their owners have a lot of time and money invested into them. Just as with any other possession, there are actually different type of equine insurance, ranging from life insurance in case they die all the way to equine liability insurance in case they injure somebody.
Is equine liability insurance a good investment for the owner? Well, think of it this way, do YOU have the money to pay a lawsuit out of pocket if the horse injures somebody, whether accidentally or on purpose? The answer from most people would be no. The equine liability insurance policy will cover you in the event something unfortunate happens.
Another type of insurance that is popular for horse owners is mortality insurance. This is equal to life insurance for humans. This will pay out if the horse dies. While that is not something that a horse owner wants to think about, it is a reality which must be considered. How much will it cost the owner to replace the horse if an insurance policy is not taken out? That is an important question that a horse owner must ask themselves.
Probably the most popular form of equine insurance among horse owners is medical or surgical insurance. Every owner of a horse or horses knows that a bill from the veterinarian can be devastating financially. This is why covering the horse with a policy if this nature is a fine idea to consider.
As you can see, there are some very important reasons why holding equine insurance is necessary. Not only that but it is a smart idea too.