Horse Owner Preferences for Equine Insurance Policies.
Authors: Stowe C Jill, Kibler Michelle L, Barrowclough Michael
Journal: Journal of equine veterinary science
Summary
# Editorial Summary: Horse Owner Preferences for Equine Insurance Policies Insurance adoption in equine practice is shaped fundamentally by horse value, with owners of lower-priced animals prioritising coverage for emergency veterinary treatment and routine preventive care, whilst those investing in valuable performers or breeding stock instead focus on protecting their financial outlay through mortality and loss-of-use clauses. Stowe, Kibler and Barrowclough employed best-worst scaling—a discrete choice methodology that asks respondents to select the most and least desirable policy attributes from defined sets—to interrogate insurance preferences amongst a cohort of horse owners, revealing how willingness-to-pay for specific coverage elements varies substantially across the owner demographic. A striking divergence emerged: owners of lower-valued horses demonstrated significantly greater demand for medical expense and routine care coverage, seeing insurance primarily as a tool to manage unexpected costs; conversely, owners of higher-valued animals showed clear preference for policies guaranteeing protection of market value but explicitly rejected premium increases for routine care benefits, viewing insurance as capital protection rather than healthcare enablement. These findings suggest that one-size-fits-all policy design may inadvertently leave a segment of the market—leisure and lower-value horse owners—underinsured, whilst premium structure and marketing messaging could better align with the distinct priorities of different owner demographics. For veterinary professionals and farriers involved in horse health management, understanding these preference patterns may help clarify client expectations around insurance coverage and inform discussions about cost-sharing for preventive care.
Read the full abstract on PubMed
Practical Takeaways
- •Veterinarians should discuss insurance options with horse owners, emphasizing medical expense coverage for lower-valued horses and mortality/loss-of-use coverage for high-value animals
- •Insurance products should be tailored to different owner segments; routine care coverage may not be a cost-effective selling point for high-value horse owners
- •Understanding owner preferences can help develop insurance policies that increase adoption rates and accessibility of veterinary care
Key Findings
- •Owners of lower-valued horses prioritize insurance coverage for medical expenses and routine care
- •Owners of higher-valued horses are willing to pay higher premiums for market value coverage but not for routine care programs
- •Insurance adoption rates and preferences vary significantly based on horse valuation