1. Be honest about your horse’s medical history
To begin with, it’s the right thing to do. However, it could also create many logistical problems later if you’re not honest about any pre-existing conditions that your horse has. The reason is that such factors will have a big impact on the premiums that they charge you. Besides listing any pre-existing conditions, make sure that you include supporting documents to show the horse’s past medical history. While you’ll likely have to pay higher premiums for the pre-existing conditions, you’ll have peace of mind that your horse will be covered.
2. Access an aggregate site
This is one of the best tools for comparing different companies and policies. It’s much easier than surfing the Internet for information about different companies. One site can help to fine-tune your search, making the process much faster and easier. Simply add the services you’re looking for in a horse insuring company, and voila—the search engine will make helpful suggestions for you. This will definitely help to narrow down your search.
3. Learn what a policy covers
It’s important to keep in mind that there are various items that an equestrian insurance policy can cover. They include situations your horse could be involved in, including injuries, theft, and the sad event of your horse passing away. Always verify which situations are covered in a particular policy, so there won’t be any surprises after purchasing it. Also make sure to read the fine print. Oftentimes people take out a policy only to find out later that certain things or situations weren’t included in the policy. The time to learn about that is before you buy the policy.
4. Compare different insurers
Besides having many policies to choose from, you can also choose among various insurers. Make sure to do your homework. You can search online for professional reviews of various horse-insuring companies, their policies, etc. Another method you can use is to read testimonials from horse owners who have dealt with certain companies. While you might find some negative reviews, you should only consider companies that have received mostly positive reviews from their past clients.
5. Consider insuring riders/equipment
This is a major issue to consider when taking out a policy for your equestrian horse. While this will increase your premiums, it’s definitely worthwhile in the long term, as it will help to provide extra protection. Equipment for training equestrian horses can be quite costly to repair and replace, which highlights the importance of insuring it. Also, in the unfortunate situation that your rider is injured during practice or an event, it’s advisable that your horse insurance policy covers him or her. It can include coverage for issues such as dental, medical, and disability care.