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Insurance
Horse medical insurance should only be purchased through a firm specializing
in equine care in order to provide
for complex medical needs a horse may have in
its lifetime. Although not all horse owners choose to pay the
expense of
coverage, a good rule of thumb for owners is to buy horse health insurance if
they cannot afford to
lose the animal or pay for adequate veterinary care. The
value of the animal is based on its purchase price, plus
transportation costs
from point of purchase, prize winnings, performance level, and breeding value.
With such
an investment of time, money, and personal commitment,
specific equine coverage is becoming more and more
popular.
Typically, there are two types of insurance. One covers surgeries for ligament
damage or colic as well as
post-operative care. The other is a major medical
policy that covers both the surgery or veterinary care for
non-surgical options.
All equine programs offer major medical plans, deductibles, and even mortality
policy
premiums. Horse health insurance will often detail the kind of situations
which can cause accidents such as
fire, lighting, or transportation. A broader
definition of peril in a policy can encompass even unexpected kinds
of injuries.
Loss-of-use insurance is important for owners who depend on the income from the
animal. If a
breeding stallion becomes sterile through accident, sickness, or
disease, an insurer will reimburse an owner
up to 100% of the indemnity due in
the mortality policy. Obviously, this policy is available only after a first
breeding season which proves that the stallion is infertile. Equine specialists
that offer horse medical insurance
may require that all injuries be reported to
their company with loss-of-use or mortality policies, just in case
any
particular injury might lead to another.
If this standard condition is written into a policy, non-disclosure of any
illness or problem can seriously affect
a future claim. If a policy has a
stipulation for a time limit for any one medical problem, an owner may have
difficulty treating an animal if the necessary medication and care lasts longer
than the stipulated coverage. Check
out horse health insurance carefully to make
sure everything is understood completely regarding what a policy actually covers
because the true value of a horse can be almost inestimable. Consider buying an
extension so
that, even if a horse medical insurance policy ends, mortality
coverage continues up to a year later if a previous
condition finally results in
death. Should an animal die, a policy will either pay an agreed value (stated on
the policy)
or the actual cash value of the animal at the time of death (whether
it is less or more).
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