Different types of horse insurance

February 15th, 2018

Owning a horse is a wonderful life decision, although we can all agree that they can be extremely high maintenance and expensive. The fees quickly add up when you include purchase price, feed, training, stables, and cost of transport. With all these expenses, it is easy to see why it is important to get horse insurance to cover you for those unexpected extras.

Petcover will take you through the types of covers and optional benefits that you can choose to best suit your situation.

Mortality, theft & straying

This coverage refers to either the death of your horse or its physical disappearance, whether by theft or straying. This covers the sum insured or market value (whichever is the lesser) should the horse pass away or have to be euthanised on humane grounds or was to be lost or stolen during the period of insurance.

Optional extras

Vet fee cover

One of the most common reasons to claim on horse insurance is for veterinary fees. Veterinary medicine can be expensive and if you do not have the means to pay an unexpected bill of up to several thousand dollars for an emergency surgery for colic or a lameness investigation, you may be faced with the unpalatable decision of whether or not to have your horse destroyed.

Petcover offers two levels of cover for vet treatment, following an injury or illness. “Standard Cover” pays up to $10,000 in any one claim or in any one year with an excess of $200 per condition. Our “HiXS Cover” pays up to $7,000 in any one claim or in any year with an excess of $1,000.

Permanent loss of use

In very basic terms, this area of cover exists to protect you if your horse were to suffer an injury or illness so severe that it will never be able to participate in the activity it is insured for again.

The important thing to remember is that the disability has to be permanent and it has to prevent the horse from doing an activity that it is insured for. Petcover offers two levels of loss of use cover – 60% or 100%.

Disposal after death

This covers up to $300 towards the cost to remove and dispose of your horse’s body if it dies or is humanely destroyed.

Saddlery & tack cover

This cover replaces or repairs, saddlery & tack that have been stolen, damaged, or destroyed. The insured saddlery & tack must be kept in a locked tack box, vehicle, or building.

Horse float cover

Petcover offers insurance for your horse float or horse-drawn vehicle. If your float or horse-drawn vehicle is destroyed, stolen, or damaged the cover will repair or replace up to the sum insured or market value, whichever is the lesser.

Horse liability plan

Horses are naturally flight animals and due to their natural instincts can act out of the ordinary and potentially cause risk to themselves and to others. In any situation where a third party is injured (or worse) or their property is damaged, they can look for financial compensation.

You could face being taken to court and having to cope with paying damages which could potentially run into thousands of dollars if you are found legally liable for the actions of your horse should they cause damage or injury.

Veteran plans

Petcover Veteran Plan is a value for money package offering essential cover for horses and ponies aged from 17 to 29 years. It covers up to $3,000 following the death of your horse due to injury or if it is lost, strayed or stolen, including advertising and reward. Optional vet fee cover paying up to $2,000 towards treatment for injury.

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