Owning a horse can be an expensive proposition. The cost of buying one or loaning a horse goes well beyond the purchase price. Before taking upon the responsibility of caring for or owning a horse the ongoing monthly cost need to be budgeted.
Included in those ongoing costs are livery charges, food, medical care and insurance. Having horse insurance is very important and a necessary cost. Make sure prior to the purchase of any horse, the availability of horse insurance from E&L is checked.
Unless the horse can be kept at your house, the livery charges could be the biggest monthly cost of having a horse. The cost of course depends upon the different services you will need for the horse. Some livery services include just a stable and food, while others include the horse’s care, making the livery responsible for the complete care of the horse.
Feed and forage is another monthly cost for a horse owner. Prices fluctuation for hay but can run as high as or higher than $75 per month. Horses kept outside all day will not have to have hay during the summer, but a supplement to grazing during the winter. Horses that are stabled need hay all year.
Horses that are stabled also need a form of bedding straw or shavings, hemp or stable mats. Most horses will also need a form of hard feed.
The prevention of medical issues for your horse is also an ongoing cost. A worming program needs to be used to keep the horse free from these parasites. Some horses do not need shoes, but the majority will require them about once every 6 weeks.
Dentistry care needs to be performed twice per year along with the necessary vaccinations for tetanus and equine flu from the vet.
All owners of horses should have insurance on the horse, including third party insurance in case the horse causes damage or bodily insurance to anyone. Other important insurance includes death, theft, straying and vet fees amongst others.
It is easy to see that maintaining a horse annually goes well beyond just the cost of the initial purchase.