If you own horses, you might be wondering whether Houston TX Equine Insurance is a necessity. The answer to that lies in whether your horses are part of a business you run.
For instance, if you have horses that you show, breed, or race, equine insurance might be a great idea. This type of insurance would protect you from expensive medical bills or lost revenue in the instance your horse receives an injury.
There are many different types of equine insurance policies, so having an agent that can point you to the right one for your needs is essential. When you start looking for an equine insurance agent, consider calling the professional team at Texas Insurance Agency.
Since 1999, we have been serving the Katy and Houston communities, helping thousands of clients find the right insurance for their commercial business. You can rely on our agents to get you on the right track to finding coverage that protects your livelihood.
What Does Equine Insurance Cover?
Loss of Use
This type of insurance policy covers performance horses that have a permanent disability to the point of no longer being able to perform. For instance, if you have a horse that is a star jumper, dressage champion, or award-winning racer, and they become injured or disabled, a ‘loss of use’ claim will likely be approved.
Keep in mind there are very specific circumstances and qualifications your horse’s injuries must fulfill in order to qualify for a claim. Additionally, many policies will stipulate between ‘loss of use’ and ‘lack of ability.’
If your horse has been permanently disabled due to injury, illness, or disease, this means they will never be able to perform again. As a result, you will likely qualify for a ‘full loss of use’ claim.
Care, Custody, and Control
A care, custody, and control policy (CCC) is for those individuals who board, breed, or train horses on their property. Specifically, this type of policy is meant to cover horses that you do not own. If you are legally responsible for this horse, even though you don’t own it, then you will want CCC insurance.
If an accident occurs during training or while the horse is in your boarding facility, you could face a lawsuit from the horse owner, especially if the horse has a critical injury. Therefore, it is the best course of action to take preventative steps in protecting your business.
It is inevitable that, as the owner of a showhorse, you will have to travel around with that horse. Perhaps this means nationally or internationally. Either way, having a mortality insurance policy helps pay for the medical expenses that stem from fatal injuries that happen during transit.
Additionally, mortality insurance covers your horse when it is stolen by a malicious individual. If efforts have been made to locate that horse with no luck, or if it turns out that the horse died during the theft, your insurance claim will likely cover your loss. Other supplemental policies are available to cover any gaps in coverage.
Major medical insurance covers the cost of veterinarian bills that stack up due to major surgery, illness, or disease. With the right plan and deductible, you can provide the best care for your horse without worrying about the financial aspect of it.
In addition to major medical insurance, there is also a surgical insurance supplement that you can purchase. This would cover all costs related to any major or minor surgeries required for your horse. Exclusions might include elective surgeries.
Equine Insurance Exclusions
Most variations of equine insurance will not cover horses over a specific age. However, there are some companies that will offer low-cost coverage of specific perils that could result in a horse’s death. Fire and loss during transit are two examples of coverage you might be able to obtain for an aging horse.
Coverage for medical expenses, surgeries, illnesses, and diseases will not be available for older horses. Typically, a horse under the age of fourteen can qualify for insurance.
Keep in mind that, although you might find a policy for an older horse, the premiums will be higher. This is due to the higher likelihood of mortality.
Preexisting or Developing Conditions
It is common for equine insurance policies to have exclusions relating to specific medical conditions, especially those issues that arise. This is because the purpose of equine insurance is to provide short-term, unexpected injury, illness, or disease, rather than long-term coverage.
For instance, if your horse develops a heart condition, your policy may cover medical expenses for the short term. However, if that diagnosis becomes a lifelong event, expect that treatment for it will be excluded from your policy upon renewal.
Most insurance companies have an interest in the well-being of your horse once you have an insurance policy with them. As a result, they understand the necessity of sometimes making the hard decision to euthanize.
However, insurance companies typically follow guidelines issued by the American Association of Equine Practitioners (AAEP) in order to determine if euthanasia is necessary. Here are the terms they base that decision on:
- Amount of suffering or pain the horse is enduring.
- Does the condition of the horse suggest an incurable prognosis?
- Is the horse a liability when around owners or when it is alone?
- Does the diagnosis mean regular medications and pain relief for the duration of its life?
The answers to these questions will determine whether there is justification for euthanasia. The horse owner’s decision should follow the recommendations of a certified veterinarian as well as those guidelines issued by the AAEP.
Houston TX Equine Insurance
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