Veteran and Rider Insurance

5 Top Tips for Equine Insurance Policies

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There are tons of types of insurance that you can take out policies for, including horse insurance. While there are certain features that are like other types of insurance, there are also some unique features that are only related to insuring the four-legged animals for races. Here are some helpful tips for taking out the best policy for your horse:

1. Consider cost and value
You should certainly consider the cost of insuring a horse that you own. However, that shouldn’t be your only consideration. It’s advisable that you get at least estimates, to ensure that you aren’t paying the highest rates in the industry. If you can get more than three estimates, then you should definitely do that. The more price quotes you get, the more likely you’ll find a low-cost policy for horse insurance.

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However, it’s important to also consider the value that you get for a particular policy. Always consider how much coverage a particular policy provides. If it doesn’t provide much coverage for veterinarian fees, for example, you could actually end up paying more than you though you would. For example, if your horse has a major injury or ailment, you could end up spending small fortune if it’s not included in your insurance policy.

2. Look for a customized policy
It’s important for horse-insuring companies to remember that horse owners and horses are both unique. So it’s critical to find a company that can create a policy that’s ideal for your particular needs. If you choose an insurance policy that provides few options or one that pigeonholes its customers, you could end up getting too much or too little cover, which could cause a world of problems for you in the future. To avoid that problem, choose a company that provides customized policies.

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3. Look for discounts
Sometimes, you can get horse insurance at discounted prices. For example, sometimes when you buy insurance policies online you can get a price cut on your premium. Another option is to pay the premium in one lump sum. This can help to lower the overall cost of a particular policy. You should also ask about all discounts that you qualify for, as companies often won’t provide this information unless you ask for it.

4. Look for an equine insurance specialist
Such companies will have the know-how to deal with customers that need horse insurance. Other companies won’t have this specialized knowledge, which could cause problems when customers file claims.

5. Read the fine print
It’s critical to take this basic step because if you don’t, you won’t know exactly what a particular policy covers. Read all the terms and conditions. While these might sound very technical, keep in mind that they’re legally binding. If you have any questions or concerns about them, you shouldn’t hesitate to consult the advice of a legal expert. The time to learn about the meaning of any fine print is certainly before you sign on the dotted line, instead of afterwards. This could save you a ton of time, effort, and money.

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