Horse owners face a number of risks that can affect the value of their animals or cause them to become sick. These risks are particularly prevalent for owners who have horses in their care for extended periods of time, such as if they're in training or competing at shows and competitions.
In some cases, it may be possible to cover these costs with your personal insurance policy. However, equine insurance in NZ is a specialised type of coverage that will help you pay for medical expenses and other costs related to your horse's health or death when these types of events occur.
Protecting Your Investment
When you're a horse owner, the value of your investment is more than just monetary. It's also emotional and sentimental.
If anything were to happen to your beloved animal, it would be devastating--both financially and personally. With equine insurance, this can be avoided by protecting against loss of income and reputation if something happens to your horse(s).
Equine insurance nz can also help protect the investment of others who may have invested in training or breeding stock from an injured or ill-behaved horse that wasn't covered by insurance (or even if it was).
Covering Veterinary Costs
Equine insurance is the best way to cover your horse's veterinary expenses. If you have a horse, it's likely that at some point in time, he or she will need treatment for an injury or disease. This can be very expensive and can put a significant strain on your finances if it's not covered by insurance.
With equine insurance, you are able to get coverage for all kinds of medical care--including routine check-ups and vaccinations as well as more serious issues like surgery and chemotherapy, if necessary.
You'll also have access to coverage for euthanasia (putting down) in case there is no hope left for recovery or quality of life after an accident or illness has taken place.
Liability insurance is the most important type of horse insurance, because it covers the cost of any accidents that happen on your property or when you are out riding. If someone has an accident on your property and their medical bills exceed their own personal health insurance coverage, liability coverage will pay for those expenses.
Similarly, if a horse spooks and jumps over a fence onto someone else's land or damages something there (like a fence), liability coverage will cover repairs or replacement costs as well.
There are three types of liability policies: first-party (the owner), second-party (your guest) and third-party (a third party). You should consider each one carefully before deciding which one is right for your situation.
Compliance with Regulations
Insurance is a legal requirement for some horse owners, and the type of insurance you choose can help you meet your legal obligations.
For example, in most states it's illegal to have horses on your property if you don't have liability coverage that meets state minimum requirements. If one of your horses gets loose and causes damage or injury to someone else's property or person--even if they were trespassing on your land--the victim could sue you in court.
If there's ever any question about whether or not an individual should be covered by equine insurance nz (or any other kind), it's always best to consult an attorney who specializes in equine law before signing up for any policy whatsoever.
We hope this guide has helped you to understand the importance of equine insurance. As we mentioned earlier, there are many different types of policies available on the market, so it is important that you do your research before choosing one.
The last thing you want is an unexpected accident to ruin your horse's health or cause financial hardship for yourself!