Is horse insurance worth it? The true cost of owning a horse in Australia (And why more owners are choosing cover)

For many Australians, owning a horse is about much more than riding. They’re trusted companions, competition partners, breeding animals and, for many families, part of the family. But with that bond comes responsibility—and the reality that horses can become injured or seriously ill with little warning.

One of the most common questions horse owners ask is:

“Is horse insurance actually worth it, or should I just put money aside?”

It’s a fair question. While having an emergency fund is always a sensible financial habit, unexpected equine veterinary bills can quickly exceed what many owners have set aside.

Here’s what Australian horse owners should consider before deciding whether horse insurance is worth it.

Can you self-insure your horse?

Many horse owners choose to rely on their savings rather than taking out insurance, and for some, that approach may seem like the right fit. Sadly, we’ve also spoken to owners who called us after an unexpected emergency, hoping to take out cover when it was already too late. Horse emergencies rarely come with small price tags.

According to Petcover Australia’s claims experience, some of the more significant veterinary procedures can cost thousands of dollars, including:

• Colic surgery: up to $14,900
• Leg injury surgery: around $8,800
• Lameness surgery: upwards of $8,000

These costs often don’t include:

• Specialist hospital referrals
• Diagnostic imaging (X-rays, CT or MRI where applicable)
• Follow-up treatment
• Rehabilitation
• Transport to specialist equine hospitals
• Time away from work

Many owners may have a few thousand dollars saved—but when treatment costs climb well beyond that, difficult financial decisions can quickly follow. While savings certainly help, modern equine medicine offers increasingly advanced treatment options, and those advances often come with higher costs.

Most common horse insurance claims this year

One of the biggest misconceptions is that horse insurance is only useful for catastrophic accidents. In reality, many claims involve conditions that can affect almost any horse during its lifetime.

Based on Petcover Australia’s horse insurance claims data, the most common claims in 2026 included:

• Lameness
• Colic
• Gastric ulcers
• Infected wounds
• Degenerative joint disease
• Kissing spine

Many of these conditions require extensive diagnostics before treatment even begins.

For example, a lameness investigation may involve:

• Veterinary examinations
• Nerve blocks
• Ultrasound
• X-rays
• Specialist consultations

Likewise, colic can progress from routine treatment to emergency surgery within hours. Often, it’s not one single invoice that surprises owners—it’s the accumulation of diagnostics, medications, surgery and rehabilitation.

Horse ownership comes with more risks than many expect

Medical treatment isn’t the only unexpected expense horse owners face. Over many years of providing horse insurance across Australia, Petcover has seen claims involving:

• Horses lost through theft or straying after storm-damaged fencing
• Permanent injuries ending competition careers
• Saddlery and tack stolen at events
• Damage to horse floats during transport

While these situations aren’t everyday occurrences, they highlight the wide range of financial risks that can come with horse ownership.

When emotions meet financial pressure

When a horse becomes seriously ill or injured, owners are often faced with difficult decisions under enormous emotional stress. Adding financial pressure into that moment can make those decisions even harder. While insurance can’t change every outcome, many horse owners say having cover allows them to focus on what’s best for their horse rather than worrying about how they’ll pay for treatment. For many, that peace of mind is one of the biggest benefits of horse insurance.

What does horse insurance cover?

Horse insurance isn’t one-size-fits-all. Depending on your horse and how they’re used, cover can often be tailored to suit companion horses, performance horses, breeding animals or business assets.
Petcover Australia’s equine insurance options can include:

• Veterinary fee cover
• Mortality cover (death due to accident or illness)
• Permanent loss of use
• Theft or straying
• Public liability
• Saddlery and tack cover
• Horse float and horse-drawn vehicle cover
• Personal accident cover for riders or carers

Some owners simply want protection against major financial loss, while others choose comprehensive cover for unexpected veterinary expenses.

Is horse insurance really worth it?

Ultimately, the answer depends on your personal circumstances. If you have sufficient savings to comfortably absorb an unexpected veterinary bill of $10,000 or more, you may decide to self-insure. However, many Australian horse owners prefer the certainty that insurance provides.

The value often comes down to three things:

• Predictable monthly costs
• Protection against unexpected expenses
• Greater peace of mind during stressful situations

No insurance policy can prevent accidents or illness. But when the unexpected happens, it can reduce the financial burden and allow owners to focus on what matters most: the health and wellbeing of their horse. For many Australians, that’s what makes horse insurance worthwhile.

Horse insurance from just $18 a month*

One of the biggest misconceptions about horse insurance is that it’s expensive. With Petcover Australia, horse insurance starts from just $18 per month*, making it an affordable option for many Australian horse owners.

Petcover can start insuring horses:

• From 30 days of age through to 29 years old

Whether your horse is a much-loved companion, a competition partner or part of your breeding program, having the right equine insurance in place can help protect both your horse and your finances when the unexpected happens.