OklahomaHorses Magazine July 2021

July/August 2021 • OklahomaHorses 15 Equine Insurance Explained Is equine insurance right for you? By Anna Holton-Dean W ondering if you should insure your horse? It is a legitimate con- cern. A horse is a major financial investment, and insurance is designed to protect your investment and offset costs. Whether you consider your horse part of your business or part of the family, insur- ance can provide invaluable peace of mind. But what types of coverage are available for horses and where do you start? While individual providers and poli- cies may differ in the details, this article provides general information to help you decide if equine insurance is worth pursu- ing. Your individual insurance agent can provide more specific information through his or her market. To Insure or Not? Patty Jackson, of Prairie States Insurance Agency in Choctaw, recommends insuring a horse valued at $5,000 or more. “Insuring a $2,500 horse is not very economical,” she says. “It’s going to cost $150 a year as a minimum premium. Then, if a claim occurs, the policy requires that a certified veterinarian perform a necropsy, post-mortem examination to determine the cause of death. A post-mortem examination and report can cost upwards of $300 if histopathology is required.” Granted, it isn’t totally unheard of to insure lower-cost equines. One client of Jackson’s, in Nebraska, insures her entire herd for $2,000 a head, but Jackson’s clients include many with horses in the six-figure range. And with claims being processed weekly, she offers a variety of scenarios where cover- age proved necessary. “Last year, we had a $100,000 racehorse colt rear up at the starting gate and hit his head,” Jackson says. “He was at the OSU veterinary hospital for a month, then he passed away. Last week, a stallion we insure