TY - JOUR
T1 - Horse Owner Preferences for Equine Insurance Policies
AU - Stowe, C. Jill
AU - Kibler, Michelle L.
AU - Barrowclough, Michael
N1 - Publisher Copyright:
© 2022
PY - 2022/6
Y1 - 2022/6
N2 - 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.
AB - 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.
KW - Choice experiment
KW - Equine insurance
KW - Willingness-to-pay
UR - http://www.scopus.com/inward/record.url?scp=85129244120&partnerID=8YFLogxK
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U2 - 10.1016/j.jevs.2022.103943
DO - 10.1016/j.jevs.2022.103943
M3 - Article
C2 - 35427761
AN - SCOPUS:85129244120
SN - 0737-0806
VL - 113
JO - Journal of Equine Veterinary Science
JF - Journal of Equine Veterinary Science
M1 - 103943
ER -