Over the years, equine insurance policies have mainly applied to the rarified world of sport and breeding horses. But some policies are now being fashioned for owners of companion steeds.

The primary goal of insurance policies for elite equines is to protect an owner’s investment by offsetting expenses of medical treatment, surgery, loss of production and death. But some insurance companies now realize that it’s not all about monetary value. Horse love is involved too.

Pet insurance offered through the American Society for the Prevention of Cruelty to Animals is now available for companion horses. Various plans cover accidents, colic and other illnesses — even preventive care.

Also, keep in mind that some equine practices offer discounts for surgical and wellness services that can be tailored to your horse’s needs.