Trade Zone: Equine Insurance: Why It Is Important?
Thoroughbred owners know horses can be fragile, and even new owners will often learn quickly that horses can do the most unexpected
things to injure themselves. One of the soundest ways owners can protect their investments is equine insurance.
People protect their houses and property with home owners insurance, their cars with auto insurance, and themselves
with health insurance. It only makes sense that they would protect their horses in the same way, especially when the animal is
worth thousands and possibly even millions of dollars. Equine insurance can help minimize financial loss.
The most common form of equine insurance is mortality insurance, which reimburses an owner the full value of the
horse, as determined at the time the policy is purchased, if it dies or has to be euthanized. Mortality policies often include
coverage for emergency colic surgery, and owners also have the option of adding additional coverage or endorsements to a policy.
These endorsements can range from major medical to mare/stallion disability to prospective foal coverage, which helps recoup the loss if a mare aborts a fetus or a foal dies shortly after birth. The cost of insurance is determined by the value of the horse and its sex, age, and use.
“Insurance is never meant to be profitable,” said Joe Brown Nicholson, of Nicholson Insurance Agency of Lexington. “Insurance is supposed to help put the policy holder back in the same (financial) position prior to an incident or loss.”
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