Horse Owner Preferences for Equine Insurance Policies

•A choice experiment for horse owners explored preferences for equine insurance•Owners of lower-valued horses prefer policies covering medical expenses•Owners of higher-valued horses prefer policies covering market value•Wellness coverage is attractive to owners of horses with lower market value Equine life and health insurance policies provide coverage for veterinary expenses or the loss of use (or life) of a horse, making horse health care accessible to more owners. Utilizing a best-worst scaling choice experiment targeted to horse owners, the rate of insurance adoption is explored, along with factors influencing insurance decisions and willingness-to-pay for policy attributes. Results indicate owners with lower-valued horses prefer insurance policies which cover medical expenses and routine care, whereas owners with higher-valued horses are willing to pay higher premiums to insure the market value of a horse but are not willing to pay extra for programs covering routine care.