How much does horse insurance cost in Australia?

There isn't one reliable Australian average for horse insurance.

A horse kept mainly for pleasure riding can have very different insurance needs from a competition horse, breeding horse or high-value performance horse.

The type of cover you choose can make just as much difference.

That is why the most useful price is normally a quote based on your own horse and the cover you actually want.

How much can horse insurance cost?

There is no reliable market-wide average because horse insurance is priced around the individual horse and the cover selected.

The most useful figure is a quote based on your horse's age, value, health and use.

What affects the cost of horse insurance?

1. The horse's age

Age can affect both the price and the cover available.

A young horse may be assessed differently from an older horse.

Some providers also have different rules or products for senior horses.

There is no single age limit across the market.

2. The horse's value

The amount being insured can affect the premium.

A horse worth $5,000 creates a different potential loss from one worth $50,000.

For higher insured values, you may also need to provide evidence.

This could include:

• the purchase price
• competition or racing results
• breeding history
• an appraisal
• other evidence of current value

Do not assume you can simply choose any insured value.

3. What the horse is used for

How you use the horse matters.

This could include:

• pleasure riding
• Pony Club
• dressage
• showjumping
• eventing
• endurance
• campdrafting
• polo or polocrosse
• breeding
• racing

Different activities can be treated differently.

Tell the provider what the horse actually does rather than choosing the closest lower-risk option.

4. The horse's health

Current and previous health issues can affect the cover offered.

You may be asked about:

• previous illness
• injuries
• lameness
• colic
• existing conditions
• recent veterinary treatment

A health declaration or veterinary certificate may also be required in some circumstances.

5. The type of cover

"Horse insurance" can describe several different types of cover.

Depending on the policy, this might include:

• death from accident or illness
• theft or straying
• veterinary fees
• permanent loss of use
• third-party liability
• personal accident
• saddlery and tack
• horse floats
• transit

Adding more cover can increase the premium.

Check what is included in the base policy and what costs extra.

6. Your excess and limits

The excess is the amount you may need to contribute towards a covered claim.

Limits matter too.

Two policies may both include veterinary fee cover but provide very different maximum benefits.

A lower premium is not necessarily better value if the excess is much higher or the cover is more limited.

Does competition make horse insurance more expensive?

It can.

A horse used for occasional pleasure riding is not necessarily treated in the same way as one used for eventing, endurance, polo or other higher-risk activities.

That does not mean every competition horse will be expensive to insure.

It simply means the provider needs an accurate picture of what the horse does.

What about racehorses and breeding horses?

These can be different again.

Some general horse insurance products do not cover racehorses, while specialist bloodstock insurance is designed for racing and breeding risks.

If the horse is used for racing or forms part of a commercial breeding operation, you may need a more specialist policy.

Our guide to racehorse, breeding and stud insurance explains this in more detail.

Is horse insurance worth it?

That depends on the financial risks you are comfortable carrying yourself.

Consider the horse's value, the veterinary costs you could afford, your possible liability to other people and whether losing the horse would affect your income.

You may not need every available option. The aim is to insure the risks you would not be comfortable managing yourself.

Compare quotes on the same basis

When looking at horse insurance quotes, check more than the premium.

Compare:

• the insured value
• what happens if the horse dies
• veterinary fee limits
• the excess
• loss-of-use cover
• liability cover
• activities covered
• age restrictions
• exclusions
• waiting periods
• any health requirements

A cheaper premium may simply be providing less cover.

What information should you have ready?

It helps to know:

• the horse's age
• breed
• sex
• purchase price
• approximate current value
• what the horse is used for
• competition level
• relevant health history
• current insurance
• the cover you want

Specialist or higher-value horses may need more information.