What to Look for When Choosing a Horse Medical Insurance Provider

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When it comes to horse medical insurance, there are many things to consider. Ultimately, you want to find an insurance provider who understands your needs and will be there for you when needed. One of the most important things to look for when choosing a horse medical insurance provider is the reputation and financial stability of the company that underwrites the policy. This will help ensure you receive the best coverage possible for your horse.

Reputation

You don’t have to look far for the best deals regarding equine insurance. An independent agent will simplify the process by shopping around on your behalf, helping you to find the horse medical insurance policy that fits your needs and budget. Choosing the right company is one of the most important decisions you will ever make. The game’s name is to find a provider with a solid reputation. This will ensure that you are covered when making a claim comes. It is also a good idea to consider the company’s financial stability that will be underwriting your policy. It can help you attract customers and keep them coming back, which is why it’s not surprising that so many companies are devoted to improving their reputation. Reputation is a significant factor in attracting and retaining top talent, which is why it’s worth the extra effort to ensure you have a solid reputation strategy.

Coverage Options

When choosing a horse medical insurance provider, you will want to look for one that offers a variety of coverage options. Ideally, you will find one that offers primary medical/surgical and loss of use policies and mortality coverage. Major medical is a standalone policy that reimburses you for covered veterinary costs, such as diagnostic procedures, surgery, and medication. These policies typically have a deductible and a limit of up to $5,000. Surgical coverage is also available, which helps to cover the cost of lifesaving equine surgery for illnesses, injuries, or diseases. Depending on the company, it may also pay a percentage of the related medical expenses up to a maximum limit. Full mortality coverage will help reimburse you for a horse’s death from any cause, including natural occurrences, accidents, disease, or poison, as well as humane destruction or theft. Rates vary based on the animal’s age, use, and value.

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Exclusions

When you choose a horse medical insurance provider, ask your agent about any exclusions that may apply. These exclusions are only sometimes obvious and can be confusing for horse owners. One of the most common exclusions is for pre-existing conditions. For example, suppose your horse has bowed a tendon, developed EPM, or requires colic surgery while insured. In that case, the situation is considered a pre-existing condition and will not be covered when you renew the policy. Other standard exclusions are routine joint injections or arthritis. These exclusions are often based on the joint, limb, or area in question and are generally not removed when the horse is returned to regular activity. The best way to get rid of exclusions is to have your veterinarian reexamine your horse and verify that the injury or condition has healed and that it is back to doing what it did before the damage occurred. Typically, this is accomplished by three criteria: the horse must return to work, compete at the same level, and have been evaluated by a qualified equine veterinarian.

Claim Process

The claim process can be a confusing and stressful experience for horse owners. Insurance can provide financial relief and comfort in an emergency, but it’s also important to know what to expect before you make a claim. When choosing a horse medical insurance provider, consider your budget and your specific horse’s needs. If you can’t afford primary medical coverage, surgical-only policies may be an option. These policies typically cover lifesaving surgeries, with annual limits of up to $10,000. A good agent can help you understand what coverage is available and how much it will cost. She can talk you through the policy in detail and explain how it works.