The basic types of equine insurance coverage purchased by most horse owners are mortality and major medical policies, which roughly correspond to life and health insurance for people.
Generally, mortality insurance reimburses a horse owner if the horse dies. Depending on the policy, the owner may receive payment for the full or partial value of the horse.
Medical and surgical policies cover the costs associated with treatment of an injury or illness.
An owner can purchase mortality coverage alone, but medical and surgical policies are generally available only in combination with mortality.