How much can you afford to lose? That’s the crux of any insurance question and it’s no exception for those who transport their horses to shows tracks breeding facilities sales barns living history festivals vacation areas parks and so forth. Because transporting a horse exposes the animal to the risks of road accidents and hazards at the destination owners need to weigh the cost of insurance to cover treatment or loss versus the cost of handling those expenditures themselves. It’s not a cut-and-dried formula based on dollars and cents but an individual assessment based on dollars and sense. Emphasizes Nancy Eichler operations manager Markel Insurance Company “We have people that will insure a $500 horse and we have people that will not insure a $5-million horse. It’s how much they can afford out-of-pocket for a loss.”

And what kind of losses might an owner sustain? The list includes replacing a horse which dies surgical and major medical expenses for the horse and liability costs should the horse cause injury or destruction to other parties.

Horse Coverages

Before looking into the type of horse coverage you need examine your own financial situation. Says Paula Martin farm and ranch specialist for CIGNA Property and Casualty “You need to decide how much you can afford in premium payments once a month or once a year what you want to insure what you can afford to lose if you have a loss and how much you want your deductible to be. Also if the accident is your fault how much can you afford to lose if you are sued