Risk Management

Many folks consider their horses’ part of the family, and for others the animals are a business endeavor. Either way, large animals are an important part of life and a substantial investment. Farm animal insurance has gained interest and is helping more owners to manage the risk involved.

Equine polices are initially written for mortality, and then tailored to each owner’s specific need. A policy can be obtained that covers many perils including liability, loss of use, transit and specific accidents. Our interest focuses on a major medical/surgical package, as it provides coverage that potentially could benefit many of our clients.

Hospitalization, in particular, has become cost prohibitive for many horse owners. In a severe colic or injury case, transport to an equine hospital for surgery may be the only option to save the animal’s life. A decision to transport the horse to a clinic and proceed could become a several thousand-dollar liability for the owner. Typical colic surgery ranges from $5000 to $10,000.

There are many reputable carriers of ranch and farm insurance. A little shopping on the phone or Internet will answer most questions about prices and coverage. The basic plan (mortality) will be based on the value or purchase price of your horse.

We urge each one of your clients to do some research and consider obtaining insurance for their animals. Some forethought today could save an owner from having to make a decision based on urgency and emotion at another time.