Probably a basic PPE, but definitely insurance.
True story with many similarities: Years ago I purchased a young (5 YO), sound prospect from a friend. I think we did a minimal PPE, flexions, etc., but can’t remember exactly what all it encompassed. Once the deal was done, my friend told me to be sure to insure him. Because he wasn’t terribly expensive (under $10K) I hadn’t thought about insurance, but I decided to go ahead and get it.
You didn’t ask about insurance, but in case you are undecided about it, not four months after I bought him he was in a pasture altercation resulting in a wound that was open to a now-shattered splint bone. Due to the incompetence of a local vet, the wound became badly infected. He spent 10 days at a university vet hospital getting IV antibiotics and daily wound dressings. My insurance covered everything but the transportation to and from the vet hospital.
So, probably yes to basic PPE, and definitely yes to insurance.