As far as animal industries are concerned, the equine industry is easily one of the most lucrative. Between breeding, shows, horse racing and simple horse ownership, the amount of money involved in the industry can be staggering at times. Horses are valuable commodities, bought and sold for thousands of dollars even when they aren’t being used in high profile racing. When horses become so valuable, other industries have to rise to meet the growing need of those horse owners. Equine liability insurance, for instance, has become a major industry in parts of the world where horses are consistently important.
Equine insurance provides horse owners with protection against the many problems that can happen with horses. Horses are prone to suffer from health problems. Most people know that racing horses run the huge risk of breaking their legs or suffering from other joint problems because of the amount of stress they are under. Horses are also at risk for a host of internal disorders depending on their diet and surroundings. While skilled horse owners and trainers can keep those horses healthy, they are large animals with bodies all their own. Just as people can sometimes get sick and injured despite quality self-care, horses can sometimes suffer damage despite the best efforts of those in charge of them.
In addition to that, equine insurance provides comprehensive coverage to protect against future loss. When people invest in horses, they are often investing in the future value that horse might bring through shows or breeding. There are many ways to leverage a horse or a stable of horses for money in a world where people are obsessed with the animals. Good insurance policies provide people with protection against the loss of future earnings from those horses. It’s an important insurance coverage that truly powers the equine industry. Without good insurance, many people would not be willing to accept the risk involved in owning and training horses.
Finally, the horse insurance industry also protects owners from liability from people riding their horses. Many horse owners run into trespassing problems, as kids and others want to get on the horse without permission. Damage to the horse or to the person riding the horse can be costly for a horse owner. With insurance there to pick up some of this cost, horse owners are less burdened.