The thing about insurance is, during the selling period, it seems pretty simple enough to understand. All you need to know usually is what are the requirements to become eligible, what are the benefits covered, how much is the cost. This applies to all types of insurance, including horse insurance and equine insurance. However, when it comes to the signing of the contract and policy, when we look at the fine print, that is usually the time when every thing becomes a bit confusing and fuzzy, but a lot of people still decide to sign anyway, and their questions don;t get answered. So if you continue reading this article, we will try to answer as many frequently asked questions as we can about thoroughbred insurance companies.
If you are wondering if there is insurance offered for your beloved horse to make sure your investment is well protected, the answer s a big resounding YES! This is usually called Mortality insurance, and this coverage is given should your horse die from an accident, illness or injury. Death due to theft is also being covered in this policy. This is an equivalent to life insurance for humans.
Some breeders also wonder if their horses can also get some sort of health insurance coverage. An equivalent is usually called major medical insurance. But, this is usually an add on for another type of insurance, usually for Mortality insurance, and it cannot be purchased stand alone.
Horse lovers and breeders are usually aware that colic is one of those medical disorders that are common in horses, and for those who have more than one horse they want insured, a lot have been inquiring if their horses are still eligible for insurance even if they already have had colic. The answer to this question varies from one insurance company to another b,ut the generally accepted standard is, your horse may still be eligible for medical insurance if you will be able to provide a satisfactory colic statement or clean veterinary certificate of examination. However, there will be an exclusion on your policy if your horse has had abdominal surgery.
Another common question that comes into mind is until what age can horses be insured? Again, this varies from company to company, but they generally offer Full Mortality insurance up to age of 20 years, but overage rates will increase the cost to insure once a horse is over 12 or 15, depending on the breed and use of the horse.
Some horse owners want to protect themselves from being sued if ever their goes on rampage and hurts people, or damages property, so they ask if some for of liability insurance is also being offered. The answer is yes, some stallion insurance companys offer equine liability policies, available for both private horse owners and commercial horse owners. This policy offers the owners protection when any one sues them for bodily injury, or damage to property that were cause by a horse that they own.