It would be best to consider many things when choosing the right horse medical insurance policy. These factors include the cost, coverage limits, deductibles, and providers. When shopping for an insurance policy for your horse, don’t forget to ask your veterinarian questions about coverage. Choosing a plan that covers the costs of veterinary bills is vital to the well-being of your horse.
Cost
In addition to providing horse owners with an assurance that their horses are treated with the care that is both affordable and of high quality, horse medical insurance covers the costs of veterinary bills and other expenses. Major medical expenses, such as surgery, are protected. This type of insurance also covers a specific limit on the costs associated with losing the use of a horse. The cost of horse medical insurance can vary widely, but it is advisable to get a policy covering a broad range of possible situations.
Complete mortality insurance plans cover more types of exposures, including accidental death and illness. Other types of coverage include theft and humane destruction. Full mortality coverage is generally more expensive than limited mortality coverage, but it can provide peace of mind for horse owners. However, this type of coverage is worth it in the long run. For this purpose, insurers may require a horse’s veterinarian to sign off on its health. As a result, this type of insurance is more expensive, but it also has a higher price tag.
Coverage limits
If you’re a horse owner concerned about the costs associated with vet care, consider equine medical insurance. While it is not a health plan, equine medical insurance coverage limits can be helpful for unexpected veterinary costs. For example, most equine mortality insurance companies start applying age surcharges for your horse at fifteen years, and the amount increases every year. Some policies even double the mortality premium as your horse ages. As a result, many horse owners choose to lower the insurance limits to offset the costs.
Once you’ve decided on the amount of coverage you need, you’ll need to look for a policy that meets your horse’s needs. For example, full mortality insurance will cover your horse against many perils, including accidents, external dangers, and named perils. A policy will also cover sickness or injury. This insurance is essential for horse owners, and you should make sure it is available in your state.
Deductibles
When buying horse medical insurance, there are several things to consider. While most policies cover routine care, dental care, and elective surgeries, there are also exclusions, such as those for congenital disabilities. Some plans do not cover alternative treatments, although some companies will review such cases on a case-by-case basis. In addition, some policies will have waiting periods before they will cover certain types of care, such as surgery performed by someone other than a licensed veterinarian.
In addition to deductibles, consider how long a policy covers elective surgery. For example, some policies cover euthanasia instead of colic surgery, and if your horse requires emergency care, you may be required to pay the total cost. Most major medical insurance policies also have $300-$500 deductibles, making them less affordable than the policies that cover routine veterinary care and pre-existing conditions.
Providers
Before you enroll your horse in medical insurance, you must understand the different coverage options and the terms and conditions. Coverage for elective surgery, for example, is likely to require prior approval from the insurance company. The policy should also include specific guidelines regarding the documentation needed to file claims. The veterinarian should define the purpose of the procedure in the health certificate and application and understand their financial responsibilities under the plan.
You may opt for a surgical-only policy if your horse does not require significant medical care. These policies may not have the highest annual limits, but they provide life-saving surgery coverage. However, they do not cover room and board expenses. Therefore, these policies may not be suitable for most owners. ASPCA offers several plans, including colic-surgery policies and surgical-only programs.
