5 Things to Consider When Deciding to Buy Equestrian Insurance
Deciding whether or not to insure your horse can be a difficult decision. You may not think your horse is very valuable, or that insurance will be too much of an added cost on top of the other expenses that come with horse ownership. However, when it comes to protecting your assets (and a horse is an asset), there’s more to consider than just the market value of your horse, or whether or not you want to pay it. Whether your horse is a top competitor at the Tryon International Equestrian Center or your kids’ favorite pet to ride in the yard, you may find after careful research that you can’t afford to NOT insure.
The Value of Your Horse’s Replacement
You may think that equestrian insurance is something only those with very expensive horses ($50K+) would consider. However, replacing a horse that costs only $10,000 can seem insurmountable if you’re also working to pay your mortgage and fund your kids’ college. The important question to ask yourself is, “If I lost my horse tomorrow, could I afford to replace it?” If the answer is “no,” then you may be putting yourself at risk by not purchasing protection. (more…)