Why do I need to insure my horse

The cost of keeping a horse is going up all the time, with everything from tack, transportation equipment, feed and vets bills on the rise. Pet insurance that covers your horse can often seem like an unwanted additional expense but the money you can save on veterinary bills and other emergency costs makes the investment a wise one.

The risks involved in owning a horse are many and varied. Owners are advised to compare pet insurance policies to ensure that they are covered against the risks most relevant to their animals. Pet insurance comparison websites allow owners to find cover that is tailored to their needs.

Statistics show that, on average, one in five pet insurance policy holders who are covered for their horse make a claim at any time. The most common claims relate to unexpected illness and injury to horses.

Developments in veterinary technology have pushed the fees charged by vets up considerably. You can cover your horse against the cost of veterinary fees by choosing a pet insurance policy that includes a veterinary fees extension, many of which allow you to take your horse to any vet that is approved by the underwriter.

Another obvious risk of owning a horse is accidents to riders. Many equine insurance policies include personal accident cover for anyone riding your horse without permission.

A number of pet insurance policies exist to help cover horse breeders against the many risks involved in their trade. Foal insurance can be found on many pet insurance policies, covering owners against the potential financial loss involved when pregnancies fail and foal purchase agreements cannot be met. Policies involving foal insurance are often subject to ultrasound scans and satisfactory breeding records.

You can seek insurance to cover against the risk of your horse being stolen or straying. Insurance companies will contribute towards the cost of advertising news of your horse straying and even helping with the reward.

Life insurance is also available for horses as part of many pet insurance policies. Depending on the cover you purchase, you may receive the market value of your horse in the event of loss by death or euthanasia. Insurance can also cover the cost of disposal of the animal following its death.

Standard in most equine insurance policies is cover against damage to saddlery, tack and your horse trailer.