By: Katie Jones, CVT
We receive frequent calls regarding information on equine insurance. We do not represent or work for insurance companies. We also do not refer or suggest one over another. It is up to the individual horse owner to research and choose a company to best determine the type of coverage that fits their needs.
I, myself, own a horse (Turbo) who is more of a weekend warrior out on the trail or at the occasional weekend show. I went through most of my younger years dreaming and wishing for my own horse; however, I knew they were an investment difficult to have during college. The year I graduated from college I finally bought my horse and the investment into what I love began. Last year when I was faced with the question of, “would I take Turbo to colic surgery, if Banamine didn’t resolve his pain”, I didn’t know how to answer. Luckily for me he resolved his colic episode with a little amount of Banamine and time. As an Equine Technician, I see many situations not as simply resolved and surgical decisions become real. Sometimes the only thing separating a horse from euthanasia and a life-saving surgery is economics. A colic surgery base price starts around $3,500; however, overall medical care pre- and post-surgery can quickly reach $10,000. Would you be ready to front this cost in an emergency situation? If you have never had to answer this question, here are a few options to consider to help prepare you if the question ever arises.
When faced with a major medical expense, insurance is used to help soften the financial blow; so why couldn’t this work for your horse? Just like with human insurance, equine insurance has different types and levels of coverage. The two most frequently chosen insurance types are major medical and surgical. Major medical covers veterinary treatment, medications, and surgery due to an accident, injury, or illness on horses valued at a minimum of $7500. Surgical insurance only covers emergency or necessary surgeries performed under general anesthesia in a veterinary clinic, for any value horse. To acquire either type of coverage, additional yearly mortality insurance is also required. Mortality insurance covers the horse’s value due to death from an accident, illness, or disease, and will typically cover loss due to theft. In the chance of an unexpected death, a mortality claim would require a necropsy report to determine the exact cause of death. (There are additional coverage options for individuals with equine businesses, such as loss of use or breeding coverages.)
The cost of equine insurance is based on the age, value, and use of the horse. Here is an example of what a quote would look like for an average trail horse (my horse, Turbo) from Blue Bridle Insurance.
Great American Ins. Co.: (Turbo is categorized as a 7 yr. old Pleasure/Show Horse)
Plan 1: Only mortality: $2,000 (Value of Turbo) @ 3.6% = $200 Minimum/yr.
Plan 2: Surgical (ONLY surgical expenses included): $10,000 = $150/yr.
Total Annual Premium for Surgical Coverage: $350.00
+ An additional $10,000 limit can be added to the Surgical Coverage Plan to cover colic medical and/or surgical expenses for an additional $150/yr.
When considering purchasing equine insurance make sure to do plenty of research. It can become overwhelming when first looking into insurance due to the number of providing companies and the levels of coverage available. A company that specializes in equine insurance, or at least livestock, is highly recommended. By doing this, their overall understanding of the possible claims will heighten the ease of filling a claim. This will in turn result in less run around and a quicker response from a company with more equine claim experience compared to a typical Home-owners Insurance Company.
Finally, insurance coverage does have limitations. Limitations will be specific to the insuring company and are details to look into when considering equine insurance. Most insurance companies have an age limit on coverage, as well as restrictions regarding horses with preexisting conditions, specific to their policies. Make sure to compare coverage limitations, exclusions, and deductibles when considering different policies.
ColiCare – SmartPak
ColiCare is a wellness program supported by SmartPak. This program allows a small peace of mind by providing up to $7500 towards colic surgery (reimbursement will only cover the cost of the surgery not any medical treatment of the colic). To qualify for this wellness program, administration of an eligible ColiCare product daily to your horse is required. These supplements are designed to provide comprehensive hindgut support to lower the risk of digestive upset that can lead to colicky episodes with ingredients like prebiotics, yeast, and enzymes. An annual wellness exam with a veterinarian is also required. The veterinarian will verify vaccination history, perform a dental exam with recommendations, and perform a fecal test to set-up a deworming schedule. ColiCare is a wonderful compliment to any insurance policy. ColiCare will reimburse independently; therefore, additional financial coverage will be seen in addition to any initial insurance reimbursement.
- Daily administration of a ColiCare Eligible Product in SmartPaks at the maintenance dose
Annual Wellness Requirements, which include:
- Physical exam performed by your veterinarian
- Dental exam performed by your veterinarian
- Vaccinations administered by a veterinarian
- Deworming program developed with your veterinarian that includes at least one fecal test and two deworming administrations per year
For more information on the products or to get signed up for the ColiCare program, please visit the SmartPak website: https://www.smartpakequine.com/colicare. Anoka Equine Veterinary serves does currently have clients that are on this program.
EQCO Coverage – Platinum Performance
Platinum Performance has its own wellness program similar to the one offered by SmartPak. The coverage that Platinum Performance offers is up to $8,000-$10,000 towards colic surgery. To qualify for this coverage you have to administer eligible supplements to your horse on a daily bases, as well as complete an annual wellness exam with your local veterinarian. Platinum Performance supplements are formulated to provide omega-3 fatty acids, antioxidants, vitamins and trace minerals to support total body heath.
For more information and for a detailed list of available supplements, please visit Platinum Performance’s website http://www.platinumperformance.com/EQCO/.
**Please note: any previous colic/abdominal surgery, history of chronic colic, or an incidence of colic in the past twelve months will mark the horse unqualified for the both programs.
Who needs equine insurance? No one. Is this for everyone? No. Ultimately these questions come down to anyone who can not easily afford the unexpected cost of extensive treatments or surgery can benefit from having it. However, there is still an expense associated with either the ColiCare Program or insurance and it is a cost to be economically comfortable with. If this annual expense is something you may be willing to invest into, then these two program options provide a peace of mind if an emergency situation were to occur and life-saving-options will be more easily funded.