Horse Insurance: Do you have it?
May 21 2010
This came up yesterday in the comments and I’d love to discuss it!
I have never had a horse insured before now. Quite honestly, I never had very high value horses before. The most I had ever previously paid for a horse was $3500 about 20 years ago for a helluva open show horse. It was much more common for my horses to cost $1000 or under and come from the auction, a breeder going under, or some similar situation. Insurance never occurred to me because they didn’t have a high value to begin with, and I honestly didn’t even know that they’d started having horse health insurance for many years. I always assumed that the risk of death was just a risk you ran with a live animal, and that vet bills meant it was time to pick up some extra freelance work or a weekend job.
So now that I have the VLC, it was finally time to look into insurance. I was surprised to find out how reasonable it was to get both mortality and major medical insurance! The application process was simple and they had a formula for calculating value without a formal appraisal. They explained to me that I could always upgrade the coverage as his value increased throughout his show career.
Now that I see the cost, I am surprised more people don’t do it. This isn’t like the staggering cost of getting your own health insurance. This is reasonable and well worth it for the peace of mind to know that if your horse has something go wrong and needs to go to the vet clinic or have a surgery that most of that cost will be covered and you won’t have to make the painful decision to let him go because you don’t have that much money available to you.
So I am just curious, since I was pretty clueless about the whole topic not long ago — how many of you have your horses insured? Do you do as I do and only have the show horse insured, or do you have some coverage on all of them? Do you have a horse you’ve purchased a lot of medical for not because it’s a valuable horse but because you and your family love it and want to know that you can provide for any eventuality?
Who out there has had to make a claim? Did it go smoothly? Any recommendations for good companies that you use and are happy with?
If you’re as clueless as I was (and I’m still no expert) on the topic, feel free to ask your questions so that those who are more experienced can fill you in!
Now, for those of you shopping for a show horse, here is Tequilla – available from Angel Acres in Pennsylvania! As Angel Acres says, “Super gorgeous, sound, sane, super solid 1st level and is currently schooling 2nd level dressage, outstanding jumper – is jumping 4ft at the moment. No issues, no vices, no bad habits, no injuries, no meds, just one of the most fabulous horses we have ever had.” Sounds perfect for someone who wants a horse that was a rescue but does not have a bunch of issues to fix!
Now, for those of you shopping for a show horse, here is Tequilla – available from Angel Acres in Pennsylvania! As Angel Acres says, “Super gorgeous, sound, sane, super solid 1st level and is currently schooling 2nd level dressage, outstanding jumper – is jumping 4ft at the moment. No issues, no vices, no bad habits, no injuries, no meds, just one of the most fabulous horses we have ever had.” Sounds perfect for someone who wants a horse that was a rescue but does not have a bunch of issues to fix!
130 comments to “Horse Insurance: Do you have it?”
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I never used to insure my horses until I got a pricey one; after that, I’ve insured them all. Taylor Harris is amazing. We’ve had several claims over the years and they have never been anything but helpful and they pay promptly. You need to get mortality to be able to get the major medical/colic portion; which is what you really want. Mortality rates are based on the horses’s value, while the major medical/colic is around $250 – WELL worth it. After a certain age, ponies become hard to insure; which I don’t understand, as they are longer lived/hardier than most horses, and therefore a better bet for insurance companies.
I purchased insurance on a colt I bought from a breeder and let it run out after he was shipped to me. I do intend to purchase more insurance for him when he goes to training. I had mortality and medical on him, actually the medical was the least ofthe cost. My trainer breeds and trains his horses so he didn’t recommend it but honestly for two years of training and the cost to replace a horse of his caliber, it is well worth it to me. I did find it a bit high for the colt (over $1,600/yr) but the agent told me that is the most expensive coverage because so many things can happen to a foal (high risk). My 4 year old has two years of training, going on three, and to replace her for the training costs alone is over $20K at this point. I have not purchased insurance for her yet but I will before she gets shipped to me. IMHO if you own a horse that is performing and costs that much to replace, the insurance is well worth it.
I don’t but from what I have heard it is worthwhile (and not just for horses, your other pets too!). I am also not very familiar with horse insurance and I’m not sure if it would be worth it for me to get it? My mare is 18 this year and has never been lame or sick. We do not show anymore, just trail riding. I purchased her for 6k when she was 10 and because of her age, her value has gone down. I do keep a stash of money stashed in case one of my animals does need an emergency. I am in Canada, not sure what the cost is like here.
On a totally unrelated note, I just finished “Beyond the Homestretch” and it was AWESOME! Thank you for suggesting it, I am going to pass it one to my horse-trainer mother
Here in LI insurance is a common item to have on any horse whether a backyard trail horse or a top notch show horse.
I had insurance on my boy until he was 17. Most companies drop major medical and mortality after 15. There aren’t any who go after 17. Then after that you are SOL. Most have a $500 or so deductible.
Shop around for a good price and it is important to have an agent who is knowledgeable about horses.
The cost for colic surgery or any other issue is so high in our area, could go over $10k easy, that NOT having insurance is just stupid. The same for having any issue tended to; stitches, lameness treatment whatever…
If you know the insurance game well you can get many things covered. All you need is to have a vet say that, for instance, a retained testicle is interfering with the horses career as a pleasure mount becasue it interferes with his training. If you are pursuing a cause of lameness all the costs incurred, vet exam with X-Ray and or sonogram, clinic costs and the cost of treatment can all be covered. You really need to have an insurance agent explain what is and is not covered in your policy. You also need to have a vet who is savvy about insurance and knows how you can get things covered without breaking any rules. Not much different from people insurance! Vets deal with insurance companies all the time and are usually required to submit paperwork for a claim. However, once you submit a claim, you usually are exempted from another claim for the same cause for at least a year. Sometimes more with a history (colic, tendon etc.)
The last time I used my insurance was when my horse was diagnosed with Lyme. They reimbursed me the cost of the exam, blood work and treatment. The 7 weeks of antibiotics was about $700 alone. The year I did not have insurance, 2001, my horse was kicked and had his radius fractured. Happily he mad a full recovery but at 20 I cannot insure him. Which is ridiculous! He is as healthy and able as he was 10 years ago. (Knock on wood!) He is doing the same level of work, intensity wise as he was at 10, actually better!
ALSO, NY is one of the few states that does not have an Equine Liability Law. So if your horse (considered personal property) damages someone else personal property, YOU the owner are financially responsible. Unless you can prove otherwise. So if I go for a trail ride and my horse dumps me and goes running down the road causing an accident, and I can’t prove that I did everything in my power to prevent it, I can be sued. This does not necessarily apply at a show, where they should have their own insurance in place, or at a reputable barn, who also has insurance.This coverage is available as a separate policy or as a rider to an existing one. Some homeowners insurance covers this, many do not. Check into your states liability laws or again ask an insurance agent.
My horse is too old/not “valuable” enough (well to anybody but me) to be insurable for medical. But I do have liability insurance, which is not expensive. It covers if someone else is riding him and gets injured (not that I allow that very often), or if he were to get out and cause property damage or be hit by a car, etc. It also includes $500 of theft insurace on him, and $3,000 theft/loss damage on my tack and feed. So if there was a barn fire and I lost my hay and tack, or it was stolen, that would be covered. My insurance agent highly recommended it, and with as cheap as it is ($22 a YEAR as a rider on my homeowner’s), I couldn’t see NOT getting it.
I can’t find insurance on my two. One wouldn’t pass a physical (EPM) and the other is too old. It’s especially annoying with the older one, as she is one of those ‘one in a million’ that I would really need the funds from insurance if anything major ever happened to her and insurance would be the decision in trying to save her or having her PTS :/
(that said, if anyone knows of any options for health insurance for older horses, please let me know!)
It has it’s good points and some bad ones. Read the small print. I’m in Canada and I’ve had personal experience on two points.
First was a regular mortality coverage (no surgical) for a young horse in the event of an accident. Horse colics call the vet who did the signoff on the insurance, only to find out that I have to call the insurance representative to get the okay to put said horse down and out of her misery. Four hours later and what seemed a million calls, I get a message to say they’ll be there to look see the next morning. I opted to have the mare put down and to hell with the insurance. I think I lucked out and pulled a newby from the insurance pool. I made a huge issue about this after the fact but ultimately told them to keep their insurance money.
Second issue related to a boarders horse who had the “full package” plan with mortality, colic surgery, loss of use etc. The vet came out to do everything he could, and this promising show gelding wasn’t responding. Called the owners, who told me to call the trainer who would make the decision. He came, looked at the horse and told the vet to give it more drugs because the insurance people wanted it to go for surgery. Even after the vet said that wasn’t an option, the insurance company refused to allow the vet to do anything and he wasn’t prepared to give more drugs as that would have put the horse over the top. Short end of the story, the trainer put the horse back in it’s stall (we had been walking him for at least 3 hours before he came), and went home without saying anything to us. We were left specific instructions that a trailer was coming the next morning for a surgical run. We managed to get this horse out of his stall where he had been down and trashing and out to a paddock where we could keep our eye on him and continue walking in stress moments. He finally took care of the situation himself but it was one of the hardest things I’ve ever had to watch but all of our hands were tied.
Both of these horses where covered by one particular carrier who I wouldn’t go near. I had a complete opposite experience though with another carrier who was in the business himself and we haven’t had any problems.
Moral of this story, make sure you ask questions on different situations that may come up so you can get layman answers from whomever you are taking coverage out on. Have an action plan with numbers handy and make sure that your vet has them too.
It would have to be a significant investment on a horse for me to book insurance again. I paid out at least 6 times the cost of euthinasia in the end over three years.
BTDT is you could be so kind as to give the names of the “problem” insurance company vs the “recommended” one, I would truly appreciate it. Thank you!
http://www.wahobbyfarm.com
SENT
What are the names of the companies? You described how awful the first was and said you liked the second one; it would be nice to know who to avoid and who to go with. Also, do you think the first company was bad because the agent or the adjuster wasn’t knowledgeable about horses or lacking in compassion, or do you think it was that the policies/procedures of the company were just bad?
The recommendation goes to Colley Borland & Vale (based in Markham, ON)
The “not again in this life time” company could be a case of too big, too many new staff with too little training. Not sure but it is their problem and not mine. I felt like someone with no knowledge was reading from a script. I’ve heard good stories for them but never had the chance to experience it personally.
Part of the problem for me also was the fact that I had to give up the control on what was happening to my horse, something I wasn’t prepared to do in this particular emergency.
I would love to see people list what company they have horse health insurance with, what state they’re in, and a rough estimate of the annual cost… I’m shopping for horsey health insurance!
When setting up a policy, think about if there are any “risky” equine activities that would nullify your coverage. Such as jumping, racing, breeding, etc? Before buying a policy, MAKE SURE the stuff you plan on doing with your horse will not void the policy. Talk to an agent and/or lawyer and really go over the contract.
If the insurance company can prove you failed to take care of your horse in any way, your claim might not be covered! For example, if you never deworm and your horse colics, the insurance company might not pay the vet costs! There probably will be some sort of clause in the contract that discusses this issue. Make sure you know what is expected of you, as the caretaker of the horse, in order to keep the policy in good standing. Again, it might be worth it to have a lawyer go over the contract with you.
General insurance advice: Make sure you have enough money for your deductible in your checking account! Do not ever spend that on ANYTHING until you need it for a claim.
Insurance is a good idea when you can’t afford to pay the cost of whatever the insurance would pay for. It’s a bad idea if you CAN afford the cost, because in the long run you will pay MORE in insurance premiums than you will pay in costs. In the long run you will pay ~30% more in premiums – that’s the “cost” of insurance – their staff, their profits, in addition to what they pay out in payment claims to insured customers. If it looks too good to be true – the premiums are so low, the coverage is so high, odds are good that you aren’t getting the coverage you think you are getting. Read the exclusions CAREFULLY.
There are also many other not-so-visible costs involved in getting insurance, such as the cost of getting a vet check before they issue the policy, and paying for vet checks you wouldn’t necessarily have (and pay for) otherwise in order to get coverage.
You are also putting the insurer in charge of your horse’s well being. What if the insurer says you can’t put the horse down when you believe that’s the best choice in the circumstance? What if the insurer says they want to put the horse down (and pay out on mortality) instead of pay for treatment (e.g. colic surgery) because they think the odds of success with the treatment are too low and then they will have to pay out on the mortality anyway? To the insurance company your horse is a replaceable asset with a fixed value, not your beloved companion.
Buying insurance when you *can* afford to pay the costs directly is a lot like letting your employer take too much out each month in taxes so you get a big refund each spring. When you do this, you are letting the government have an interest-free loan of your money! But many people do this because they like getting a big refund each spring. Instead, you should increase your withholding exemptions (which is perfectly legal, carefully read the instructions on the form or ask your tax advisor if you are unsure), get a bigger paycheck, and have your bank automatically transfer the increase into savings each month so YOU can earn interest on this money. Then you can spend it when you like – you don’t have to wait until you do your taxes each spring.
My little mare, whose fairly well bred (Sire is a Scotch Bar Time x Zippo Pine Bar mare), is competitive against the performance horses in AQHA halter and showmanship, not so much in the riding classes because she doesn’t have the little tiny stride they look for and just never will, nor does she have the laid back mind set that they want out of those western performance horses in AQHA, although she’s still a phenomenal mover…I may try open shows in the near future and I think she may be destined for western riding…she’s got phenomenal lift for such a stocky horse.
She was only purchased for $2000.
She is insured through Great American Insurance for mortality and major medical. Coverage runs about $500/year. Not bad. Back in October, the vet scared her and she ran away, slipping and falling on her hock on a concrete surface in the process. She tore a ligament. We had a $250 deductible and had no problem with them covering her vet care, including shockwave therapy and rehab expense up until April. It is now an exception on my insurance, so from this point forward I am responsible for any costs involved with that injury, but there isn’t any costs any longer as we have taken things slow and easy. She is back into light riding and no longer experiences any heat or swelling. Slowly but surely! The insurance company was great about everything!
I did have insurance on one of my horses some years ago- I leased her out and as a condition of the lease the person had to pay to insure her. When the lease ended I dropped the policy, but it was not expensive ($100 a year for mortality I think).
I have often considered insuring my primary riding horse, at least as far as for if she died, simply because it would cost me at least $7500+ to buy a horse to replace her that was similarly trained, with similar accomplishments. *if* such a horse was for sale, which they usually aren’t! Most people who spend years training a horse and then are winning everything on them, don’t sell them!
I did find out, that insuring a horse can be tricky. The tricky part is, establishing a value the insurance company will agree to, that you also feel is reasonable. You have to have proof of value, and especially if the horse is more valuable now than it was when you bought it due to show or competitive accomplishments and/or training. An equine appraiser can help, but then that means you have to pay for an appraisal.
If I were going to lease a horse out, or breed it, I would definitely insure, at least for mortality, if not health insurance.
We just have basic liability insurance for my horses. I’m not sure what company, but I believe it’s tacked onto the rest of the homeowner’s insurance. It covers it if the horses were to get out and hurt someone, God forbid. In my area, equine insurance for horses kept on private property is mandatory. Which I think is a great thing. I’d like to get mortality insurance at some point.
I live in Ontario and in order to go to any of the horse shows in our area, even the small ones, we need proof of minimum 2 million dollars insurance. We have what is called the Ontario Equestrian Federation, I think it’s only $60 a year and includes our Equine Canada as well as of this year. We get a card with our number on it that we have to show at every horse show (or write the number down on the entry form at least). I think it is great, it covers me and all my horses should they injure anyone or should they get injured themselves.
Yup the OEF coverage is brilliant for liability. Our shows require OEF membership for that very reason. Even if you don’t show, it’s a worthwhile investment and a cheap one. We’ve asked our boarders to maintiain this membership also.
Insurnace is an absolute must for me – there is no way I’d do without it. Ours are all covered for vets fees, death, theft, straying and I think one or two other bits, but not loss of use as thats really expensive and even if they could never be ridden again they would never be replaced. We pay approximately £25 per month per horse for this. However should we ever need a colic surgery or major tendon injury or something bigger than basic routine stuff we couldn’t afford the fees – any sort of major vets fees is out the question for me, so with our insurance we only pay the first £100 or so of any treatment. My tb recently broke 2 legs in an accident involving a cattle grid and the vet had to come out and sedate him while he was extracted and then put him down once his injuries were known. This would still have been done but the only way I could’ve paid the bill at the moment is because of his insurance (I’ve been out of work for several months till recently) The other thing they are insurared for is disposal costs – to have a horse cremated over here is getting on for £1000 and the rules are pretty strict here about buriel – it has to be on your own property etc which doesn’t really work for a livery yard so a lot of the time that isn’t an option. Definately worth having – the peace of mind knowing any major surgery or treatment is covered is essential, I can call the vet without having to worry that I can’t afford the bill (not that they would ever go without).
In the UK you can generally insure a horse for the first time up to age 15. Some companies will continue to insure a horse up until 25 for death and vets fees provided you have taken out the policy before they turn 15. Also, all companie will exclude a pre-existing condition which basically means anything the horse has suffered with or had a claim with before taking out the insurance will be excluded, for example my sister’s cob had a bone spavin in his hock about 5 years ago and now his entire hock is excluded. One of the best ways to drop the price of your insurance is to have a large excess, say £500 or so – this way you’re covered for massive bills but drop the price nicely. A lot of companies will require a full vetting before insuring a horse for more than about £3500 and I found with my horse who was put down I had to provide either a reciept of his purchase or an independant valuation by a professional, eg a trainer before they would pay out – on the plus side because he was worth more than I had paid, (and more than he was actually insured for) they actually paid out more than he was insured for.
If you’re planning on taking out insurance, talk to other people about who they use and who they have had good experiences with and who they had bad experiences with. This is a good way to ensure you get a good policy.
I have it for maresy. Mortality for her full purchase price (which in today’s market would cover an equivalent horse plus all the tack, blankets etc and leave some for training) and major medical with a $7500/year limit. Costs about $550 per year, which sounds like a lot, but this year’s suspensory surgery plus several ultrasounds plus treatment for Lyme etc. has us at about $6000 so far, so it’s definitely been worth it. The company has been great about the claim; I actually have my regular insurance agent deal with them, because they know “insurance speak.”
I am very interested in this topic. I’ve never thought about insurance before b/c I figured it would be so expensive. But now that I have a horse in training, investing a good amount into him each month, it would make sense to protect that investment. Not to mention that I would be devastated to have to put him down b/c I couldn’t afford a surgical route to fix him. Where do you even begin looking for horse insurance? And what if you move a lot? Being military we are never in the same place for longer than 2 or 3 years, would I have to buy new medical insurance every time we moved?
I’m prior military and the answer to your question is NO…you do not have change insurance companies as you move.
Where you look is horse magazines or word of mouth. Just like trying to find a horse transportation company, word of mouth works best because if people are happy with a company…
I use Justin Insurance, recommended by a friend who has several high $$$ horses.
What a great topic! I’ve always thought about getting coverage for my 6 year old gelding. The biggest thing that has stopped me is my assumption that no one would insure him or coverage would be astronomically expensive because he has a diagnosed heart murmur. Has anyone insured a horse with a known physical defect? Are they insurable? Are the rates considerably higher?
What companies do those of you with insurance have coverage through? What is a typical premium? Do you just have mortality insurance, or do you have optional coverage for major medical/surgery?
Can’t wait to see the responses!
This comment really should be under the last blog; some of the comments were discussing cryptorchid colts. I just wanted more people to see it – so I’m posting it under today’s blog:
I live in Southern Oregon and last fall rescued a starved, beat up, mishandled, 2 year old Welsh colt. He was also a unilateral cryptorchid, of course. As was his brother, who I tried to save as well but was unsuccessful. No vets in my area will geld a cryptorchid, and they refer all cryptorchid cases to Oregon State University. OSU charges between $1,200 and $1,500. This is well out-of-reach for most people in this area, so most cryptorchids get dumped (just as these two ponies were dumped without papers by their breeder). I was willing to spend that much, if that were the only option, to give this cute little guy the chance at a great life as a gelding. However, by hunting around, I was able to find out the following info:
Dr. Ben Braat in Albany, Oregon charges around $500 to geld a unilateral cryptorchid (meaning only one has descended). It’s a couple hundred more for a bilateral, but still much less than OSU. This vet also has a great reputation, so is not some hillbilly hack. The drive to Albany is about 2.5 hours for me (but so is Corvallis-OSU), but still well worth the transportation costs.
Now, every time I see an ad on craigslist for a cheap cryptorchid, I let them know that there IS another option rather than the $$$$ surgery at OSU. I hope it helps get more people to geld their colts.
It pays to shop around and know your options. You are not tied to one vet, even thought they would like you to believe that! I have accounts at all the vets in my area, so that I can choose which vet for which critter makes sense for whatever is going on.
Remember that when you obtain medical/colic insurance for your horse that you verify that the limit (usually $7500) is adequate for the size of your horse and the location you live in. Also, find out the exact stipulations of when you can euthanize (and resulting financial ramifications) are to your liking as well. Do it BEFORE you purchase and before there is a situation!
A friend has a large draft cross that she rescued off a feed lot but has since trained to 3rd level dressage and cleaning up the ribbons. The horse colicked. The $7500 limit ran out very quickly, mostly because the vet school DOUBLES the charge for all medications for any horse over 1100 lbs. So double bills for pain meds, double anesthesia, etc. She had essentially zero dollars into this beloved horse since she did all training herself and never would have chosen to purchase this horse for the nearly $20K that the estimates were ringing up as. His prognosis was a 25% expectation for survival with surgery. He was in pain, so she opted to do the right thing for her faithful partner and have him euthanized.
Nope. The vet told the insurance company that is was operable and he wouldn’t euthanize if it were his horse. So, if she euthanized (went against medical recommendations), they wouldn’t pay a penny of the already monstrous vet bill. Also, if she euthanized, they would not pay on his mortality insurance because she killed him by free choice against medical advice.
This is a hardworking girl in her early 20′s. She works two jobs to support herself and a somewhat extravagant horse habit. She is slowly paying off student loans that are incomprehensibly huge. She ended up with a surgical & vet school bill that was $17-18,000. Insurance paid their $7500. She was left to pay the $10K because of failure to understand the insurance policy she purchased.
The fabulous news is he made a splendid recovery and is showing again. So she laughs about it and says she paid $10K for a bag of bones off the kill truck.
I have both of mine insured, one of whom is a show horse who is insured for mortality for his purchase price of $25,000 and for major medical up to $5,000. He also has liability insurance, that is my moms doing, she used to work for insurance and insists on having it on both of our horses in case they happen to, oh, destroy someones trailer or smush someone or what have you. My pony who is now 17 (prices go up when reach her age) who is still insured at least for right now for mortality, major medical, and liability. Major medical and mortality go hand in hand you can’t have one without the other. You can decrease the value of your mortality, but you have to have mortality in order to have major medical, we recently did that with the pony we dropped her mortality as low as we could value wise to keep the major medical but we will probably pull her insurance in another year as the premiums go up with age at this point.
I should also add that there are other options, like if the VLC’s value goes up if he’s wildly successful in the show ring, you might want to look in to other things like loss of use, I have a friend with a high end show horse who has loss of use on top of everything else so when she went through months of some serious health problems with him they collected on both loss of use and the major medical covered his vet bills, which if you’re paying board on a high end show horse that can’t be used and you’ve already put a boatload of money in to, it’s nice to collect the loss of use.
Be very careful to read the fine print on the loss of use policy. Some insurance companies will confiscate and destroy a horse when you claim on the loss of use policy. It is their protection against insurance fraud: for example if you have a big-time show jumper who blows out his suspensory and can no longer jump and you collect on the loss of use, but then use him to compete in Dressage or to make money giving flat lessons, etc.
I have insurance on my stallion he is currently my only show horse. He has $50,000.00 mortality and $5000.00 over major medical and loss of use ie cannot breed. I get it thru The Hartford and it runs about $900.00 a year. I found that I get way better service on my equine coverage by using a non-equine insurance agent. I know this sounds weird but the equine specialist we used were rude and snobby imagine that. I only insure show horses as they are hard to replace in regards to time and training. I love all my horses, but the pasture puffs I have very rarley need a doctor. When they do I pay out of pocket, and with the experiences I have had, I will never do colic surgery ever again. And if one passes away, I can easily replace my pasture pals for a lots less then what I would pay in insurance.
I looked into it for my horses but could not find a policy for them because they are both over 15 years old. My horses don’t have any monetary value, but I wanted health insurance to pay for major stuff, like a multi-thousand dollar vet bill for colic. Let’s hope they live to a ripe old age and drop dead without complications. Actually, I hope I live to a ripe old age and drop dead without complications:)
I hope some horse insurance salespeople will comment. I would like to know more about all kinds of horse-related insurance. I did ask one company how much the insurance (liability) would be if I had a small boarding stable, and it was surprisingly cheap, like a thousand dollars a year.
I’m clueless about this whole thing.
I’d look into insurance when I actually started competing at higher levels. But there would be a few questions I’d ask.
1. Is there a discount if multiple horses are insured?
2. Does the insurance cover stolen horses in any way?
3. Does it cover any and all injuries, regardless of how they were acquired? (lol, no, I don’t beat my horses.)
And a few more. Don’t feel like you have to answer those questions, I just posed them for, well, fun.
If I were to get insurance now, I’d get it on my 3 y/o filly who’s always having problems, and my 10 y/o barrel mare. 
Thank you, Thank you! THANK YOU! Can we please get some names of insurance companies! I have been very interested for quite some time on insuring my mare who is currently in training. I’d love to know who you went through, and why you chose them.
I’ve not only insured horses; I’ve had to file a claim unfortunately. It was on a stud I had leased, and he was insured for $8,000. We came home to find him hanging in the ‘horse-safe’ corral panels (don’t believe the square top ones will keep your horse from getting hung up in them–their weight spreads them just enough for them to get a leg in it and when they come off the fence, it snaps shut on that leg. It was horrific)
Anyway, he was insured for ‘guaranteed value’ and guaranteed renewal along with the vet insurance. When you do mortality, get both guaranteed value and guaranteed renewal. Guaranteed value means if your horse dies, they accept the value he was insured for. Otherwise you will have to PROVE what that horse was worth from breeding records, show records, apprasial, etc. Trust me, get the guaranteed value on that horse. Guaranteed renewal means you are guaranteed you can renew that mortality insurance even if the horse was severely injured when it comes up for renewal. They can’t suddenly deny to renew the insurance.
When you get your policy, READ IT. It will tell you what to do in case of an accident – don’t do this and your insurance is voided. Usually they give you a stall card with the number to call IMMEDIATELY when the horse is injured. Photocopy that thing and have it taped to your stall door, under your pickup visor, in your house, etc. In our case I was on the phone with the insurance company vet while my husband was getting the poor loaded to take to the vet. We kept in constant contact with the insurance co. and followed ALL instructions to the letter. The decision to euthanize the horse was made the next day between our vet and the insurance vet. DO NOT euthanize the horse yourself without calling them. I know, it’s hard if the horse is suffering.
Vet insurance – again read the policy. There is a LOT they do not cover. Out of an $850 vet bill they paid something like $225 after our deductible and they did not pay for the euthansia nor the cost of disposal nor the X-rays, all excluded in the policy. Frankly, I really did not think this was worth the money except maybe in the case of a colic surgery. Then it would definitely be something to have. We live so far from a vet, I doubt any horse of ours would survive the trip to the vet in the case of a severe colic (90 miles).
Claim service was straightforward and it took about six weeks with this company. I have since purchased mortality insurance through the same company (Agri-Risk). Be aware you will probably get a DRAFT not a check for the claim, which is standard for the insurance biz. It takes longer for a draft to clear than a check but you will get your money. In our case, because the horse was a leased horse, the draft (money) went to the owner not us as it should have. Was I glad I had insured the horse? You bet. Although it was very depressing to have lost this wonderful Morgan stallion like we did and I still miss him. We have one daughter of his we’ve kept.
I have one horse ensured with Markel Insurance, Deb Witty is my agent. She’s in Washington, and really has helped me figure out what I need. I only carry mortality and major medical insurance on my show horse. I also looked into loss of use insurance, but apparently if you claim that, the insurance company can take the horse. I don’t remember the specifics on that, though.
A close friend of mine has made claims on her insurance, her gelding has had a lot or diagnostic work done to understand some of his soundness issues. As I understand claims they’re easy to make, but once you work on a specific part, you cannot claim it again, like you only get one colic surgery and recovery. I may be wrong, and this may not be how all insurance companies operate, but this is one experience.
I do recommend insurance on any horse you value, or that travels a lot. My pasture potato is insured for colic surgery and recovery, but that’s it.
I also looked into loss of use insurance, but apparently if you claim that, the insurance company can take the horse.
Yep… It’s very much like totalling a car. The horse becomes the property of the insurance company. Since insurance companies aren’t in the business of owning, feeding or caring for horses, especially for loss of use, their next trip is almost guaranteed to be Canada or Mexico. It’s a business, they don’t care about animals, only money. Be very careful. I don’t think most people would like the results (or think about it when making the claim).
That reason is exactly why my insurance agent suggested agains that package! She knows that my horses are not only partners, but also pets when their careers are over.
Couldn’t you buy back the horse from the insurance company? I mean, if it’s value was totaled, even if they sent it to auction, if they told you where it was going you could buy it there; or maybe they would negotiate a buy-back value. What a nightmare.
How much does it cost to insure just for colic surgery? That’s the one major cost I fear…
That would go under major medical. Insuring for $7500 major medical would cover it in my area – your area may differ. Find out what colic surgeries run in (the general range) and see how much insurance you need to buy to feel safe.
If you are in Southern Onatario .. Guelph Univeristy is usually your first option. Taking a horse off the trailer in the parking lot there will cost you a starter fee of $5000 Cdn. and don’t forget to take a bottomless credit card to leave on file. They are really great but boy, make sure there is no “minimum” on your coverage.
When thinking about coverage, make sure you are within a four hour drive of your surgery centre for colic as that is your magic window for a chance at successful recovery. Get a “price list” as they should be able to give you an “average” cost for common treatments. If you are using a “national” carrier, they’re going to see a lot of different prices depending on location and types of vet facilities offered. Use this info to negotiate your coverage maximums BEFORE you sign.
If you manage to get specific answers to your questions, make sure you keep the name of the person you spoke with and what level they represent in the agency or insurance company you are working with. It’s called covering your ass. I’ve followed up with a summary of a conversation on paper after dealing with the company from hell. It near drove my new agent nuts but he understood where I was coming from.
Great topic!! Yep, I have horse insurance. For me, the decision wasn’t about having a high value animal. . . In fact, my current horse would probably have the lowest resale value of all the horses I’ve ever owned in my lifetime. For $43 a month, my mare is covered for major medical and mortality, and perhaps most importantly, I get some very solid peace of mind. My girl is very well-loved, and I hated the idea that if she ever needed colic surgery or some other high-priced vet treatment, I wouldn’t be able to afford it and would have to put her down. I feel so much better knowing that worrying about the expensive pricetag won’t influence my decision during a veterinary emergency.
I have 4 out of 5 of mine insured. My gelding is 22 and too old for insurance. I’ve had mine insured for the past 17 years…and my 2 youngest ones (now 2) have been insured since they were a few months old.
I have had to use my insurance on my young warmblood when he tore his fetlocks open in the niclimb when he was 5 months old. Hartford was AWESOME to work with and usually got payments out immediately. I have been really happy with them. I go through a broker in SoCal, Laurel Fowler, and their office is great to work with as well.
Years ago I used Agri-Risk and had to euthanize a 4 year old when he broke his shoulder in pasture…both UC Davis and my insurance company were great and payment promp.
There is a HUGE piece of mind knowing if something happens (colic surgery etc) I won’t have to be one of those folks that puts their horse down because they couldn’t afford it. Mine have $7,500 @ in major medical.
I’ll chime in on the insurance-deal from both a horse owner and a vet’s perspecitive (assuming it works the way in the US as it does in Canada!). My first recommendation is to decide whether or not you’re willing to send your horse for colic surgery should the need arise (sounds like a no-brainer, but depending on what the problem is, the outcome isn’t always that nice – it can be a very long, expensive recovery that is very hard on the horse). If you insure your horse for major medical/surgical, you no longer get a vote (it becomes the INSURANCE COMPANY’s say – if you go against their wishes, they won’t pay out!). I also suggest you take a good look at the options and small print of the policy before signing on. I know a lot of people that opt for the “cheaper” policies that cover around $5000 – this is only a small drop in the bucket in a lot of cases where colic surgery is concerned, and you’ll be stuck paying for the rest out of pocket – I know of some bils that have creeped up to $25,000+ by the time the horse was semi-healthy. I never insure a horse for less than $11,000 surgical coverage.
You also have to look at the actual value of the horse – it goes both ways. Trying to insure a horse valued at $50,000 is not a cheap thing to do! In a lot of cases, I recommend to figure out what it would cost to replace the horse as a young prospect rather than it’s “trained” value. That said, most companies won’t insure a horse for surgical coverage unless they’re valued at a certain amount (usually around $5,000) as the horse is worth less then any minimal surgery they may need.
If you have multiple horses (and your own place) – it’s a lot more viable to look at insuring them as livestock through farm insurance rather than individual animals.
One thing I DO like about insuring them is there is an option for the absolute basics – usually called “Specific Perils”, which replaces the horse’s value should a (natural) disaster occur (eg lightening strike, barn collapses/tree falls/hit by a car ect ect). This is a pretty inexpensive (around $200/year) that also can cover tack, liability (up to $1-2M) and in some cases, a life insurance claim for the owner/rider.
From what I’ve seen – it’s a LOT less hassel for claims on horse policies compared to human ones!
OMG… if I ever were to get back into eventing I would so love a horse like that … Didn’t even LOOK at the horses standing by the fence!!
I bought my current horse for $4,500 as a 3-year-old, and I wish I’d gotten insurance for her. She now has an ongoing medical problem that costs me hundreds of dollars a year. I’d never be able to get cheap insurance at this point.
I will get it for my next horse.
I tried to get insurance on my mare but ran into a problem with obtaining insurance because she was a low dollar value horse. She was practically given to me as a weanling when I lost my horse so I had no investment in her. I wasn’t concerned about replacement insurance but rather major medical insurance. At the time I checked (some years ago) they wouldn’t write a policy for her that would cover catastrophic claims such as colic surgery as her value wasn’t high. Did I just go to the wrong company?
Sorry, Stormy that u couldn’t get insurance either. But I got a good laugh that “Stormy” posted over “reiny”. And that we both have cheap horses that couldn’t get insurance. Now if someone called lightening would just post…………….. ROFL- Sorry I’m in a silly mood this afternoon.
When I bought the filly, (6 months old) I called a company inquiring about insurance. They would NOT insure her do to the fact she was a cheap grade mare. This upset me slightly. Yes, she is a cheap grade horse. But she is a cheap horse who is YOUNG and gets regular vaccines, foot care, ect. I honestly wouldn’t care if they had told me it cost more for grade horses (since they can’t get the supposed historys that they get with registered horses) but to deny totally is wrong. Guess they have never heard that mutts are sometimes healthier than pedigreed animals. lol. That’s ok, I’ll keep my cash. And I always have farm insurance which covers 2 animals- if someone gets hurt by her or she gets hit by a car or something. – I admit I was too irritated to call other companies- so I’m not sure if this Is a policy (about registered animals only) that other insurance companies have. Sorry, thats the only experience I’ve ever had..
My current dressage horse is the first horse I’ve ever insured. Growing up, my family would have come up with the money somehow for major vet bills – advantage of having a lawyer for a father!
But now, my guy is the absolute love of my life. He’s “the one” for my horse career, who I have bonded with like no other. I had a trial period with him, and knew before I even bought him that I would be devastated if something happened to him – and even more so if something happened and I didn’t have the immediate money to shell out to take care of him. I actually have his mortality insurance below his value, because that part isn’t a big issue for me – it’s his care that matters most. I have $15k major medical, so whether he needs colic surgery, lameness treatment, whatever, I don’t have to hesitate.
My other horse is a crippled rescue. As much as I adore her, in her case I can’t imagine trying to go through any really major efforts to save her should something bad happen. She already requires full strength to get around with only 3 good legs, and while she’s not in pain now- the weakness from any kind of major surgery would likely have her moving unevenly enough to make pain develop. I don’t believe in keeping a horse around and forcing it to hurt. For anything less major I can afford it without the insurance, but sure hope I don’t need to!
I would love to know more about this. In my 20 years of horse ownership, I’ve been very lucky. Up until this year, I’ve never had a major horse issue. I like to pride myself on that I just take such wonderful care of my horse that he doesn’t fall into risky situations (ha ha) but basically I’ve just been VERY lucky. Until now. In the past 6 months I’ve gone through 4 vets and several thousand dollars to fix something that was quite simple but misdiagnosed over and over.
Before this I never really considered getting insurance. Trying treatment after treatment over the past 6 months did spark the idea in my mind a few times, but I just have never known much about it, and I always figured it would be something expensive that only the people with lots of money and expensive horses would use.
A few questions: What is the range in monthly or yearly cost to get it? Are there different types of coverage? Do they work the same way as human med ins, including certain yearly routine things like annual shots or bloodwork, or is it just that you have a certain copay for different types of coverage?
I dont have insurance on either of our horses, their value in dollars is under $1000, but their worth in pure experience on the trails is priceless and their value in my heart is unmeausurable. Just a thought and I dont know this would be the same with horses or not, but, we dont have insurance on our labs either. Now one of our dogs has developed seizures and has torn the muscle in her knee and surgery costs $3000. Insurance now is not an option as her conditions have become preexisting. Just a thought for those of you that might be considering animal insurance.
I have an 8 yr. old TB mare. I bought her health / mortality insurance in December 2008. It costs about $550 a year. It has saved my butt, big time.
Mare had a suspensory lesion (diagnosed Feb. 2009); treatments for the lesion (March – Sept. 2009), the emergence of a different and obscure lameness problem in Feb. 2010 (resulting from a pasture accident in Jan. 2010), a non-surgical hospital visit for colic (March 2010), and a nuclear scan for the second lameness that we couldn’t pinpoint (May 2010).
Some of the treatments I undertook for Katy would be out of the question if she weren’t insured. Others would just break my bank and my heart. DO THIS! It is soooo important. Sell a lung. Do what you have to. But get insurance, if for no other reason than to be able to do colic surgery if you ever have to.
Mare is insured with Great American, they are professional and conscientious and fair. I think we will have been reimbursed nearly $9000 once the last (large) claim is processed.
I just would not own an uninsured horse. It’s too much of a financial risk. Unless you are ok with putting down a colicking horse that could be saved with surgery. Scares the $hit out of me, personally.
I’ve had my horse since she was a yearling and she has been insured her entire life. We have life insurance and major medical. We also get temporary shipping insurance on her when she hauls for longer distances. While she’s not the most valuable horse in the world, she is my baby and her trail, parade and drill team experience, not to mention her training, and fantastic personality and attitude make her priceless to me. I would be devastated if she needed colic surgery and I had to put her down because it was too expensive. We have been lucky so far, but it’s worth a couple hundred dollars per year for the peace of mind.
It’s rather different in England.
Insuring a horse there is a complete *no brainer*…and my insurance on my horse covered:
1. Emergency vet bills.
2. Euthanasia costs.
3. Replacement of the animal if it had to be euthanized.
4. Value difference if the animal became permanently unsound
5. Replacement of the animal if it was stolen and not recovered
6. Rider personal injury – i.e., if I came off and was permanently injured, there was a compensation. A fairly generous one.
7. Liability – i.e., if the horse kicked somebody and they sued me, I was *insured* for that.
8. Tack replacement up to a certain value in the case of theft.
EVERYONE had at least vet insurance and most had liability. And, get this, we had the same exact insurance (albeit a lot cheaper) on our dogs. My parents still have their dog insured. (I don’t know about the cats, I’d have to ask). When he stepped wrong running in the dog park and gave himself a stress fracture, they were *covered*. No need to work out what bills not to pay to cover the vet bills. Done. Taken care of.
I don’t remember how much the policy on my horse cost, and I never had to claim on it. But it was there if we needed it. I find it unimaginable that so many people in America don’t insure horses, even very valuable ones. I know theft insurance would not have helped Sandbox’s owners much, say…hard horse to replace that. But… And liability on ANY animal strikes me as a good idea in this society.
I agree that liability at the minimum is a must. My agent said that if my horse caused injury or expensive property damage, we could be sued and lose everything we have. I asked why the barn owner’s insurance wasn’t enough, and he said that if, say, my horse went through the fence and was hit by a car, the barn owner would be sued because his fence didn’t hold my horse in, and I’d be sued becaues it was my horse. And if I was riding off-property and something happened, then it would be all on me. The insurance is a very small price to pay.
I’m a student and I still put aside the money to insure my dog each month. Its only £15 and it gives total peace of mind.
The same applied for when I had my horse (although bank-of-mum paid for that bless her) and it covered everything from the extensive dental work she needed (over £700 worth as it was an ongoing issue with sedation and call-outs over a period of 6 months). She had a awful injury involving a gate catch being stuck in her side which would have killed her if it wasn’t for the old style heavy canvas rug he had on at the time. The accident happened due to the stupidity of a fellow livery owner who seemed to think it was a good idea to ‘run’ horses from one field to another by chasing them on a windy day and without securing the gate. Result was my horse being caught between the swung shut gate and the post. It was SIX MONTHS before it was healed enough for her to move more than a few steps and a couple more before she was able to walk the length of the barn. She must have been in a lot of pain but she took it like a trooper. The insurance company paid for this and then recouped the money from the responsible party’s insurance so we didn’t have to worry. I dread to think what the total cost of the treatment was!
Fast forward to 5 years later and she came down with colic. A day was spent trying to save her and the time came to decide whether to haul her to the vets for an operation or to make a final end. I stood with her for 15 minutes and asked her what she wanted and she came and stood with her head in my chest. I knew she was telling me it was time. Someone else had to call the vet to tell them to come and euth her. I tried but the words wouldn’t come out – someone else had to take the phone from me and explain. But I was with her to the end. The insurance company paid for all of this and disposal. No trying to pay for those bills after the horse is gone. So insurance is definitely worth it. When bad things happen the last thing you want to be thinking of is how you are going to pay for all this?
Plus if she ever hurt any other horse or person or an accident happened on the road (road riding being a bit more of an issue in the UK I guess) it was always covered. You have mentioned on this blog that people who have a horse should have the money for euthanasia and disposal then insurance is a good way for this, plus any vet bills that come your way! Lets face it – horses are going to get injured/sick. They do that very well so non-routine vets bills are going to be a fact of life. I look at animal insurance as an investment for that vet bill that WILL come one day!
Darting back to my first horse, circa 1970, I didn’t insure ($650 purchase price). Then I got a horse that seemed indestructible. Didn’t even think about insurance. In 11 years, he had an episode of stone bruises(sound in a month), a minor exterior ligament straing (sound in 10 days). My only veterinary bills were spring and fall shots. When I bought a 4 year old TB/App cross, while I didn’t pay all that much for him, I began to think about insurance. I had to self-insure for the first year or so, since his purchase price was low, but once he had a show record, I upped the insurance and I continued it on him until he was 20. As he got older, mostly for the surgical, as in “I don’t want to say put him down because I can’t afford the surgery.” But through his competitive life, I was glad to have it: fractured coffin bone, fractured hind leg (fractured splint w/hairline fracture to cannon), torn annular ligament that required surgery, two suspensory strains. But he always bounced back, and the insurance paid off. I’ve insured my youngster now, but I am going to be looking for a change in companies. The paid promptly on the first claims re his tweaked MCL, but when I presented bills in February told me that they only covered “120 days from date of injury.” Well, I’m sorry, but rehab from a ligament injury can take more than four months, and I’ve got the fricken’ vet out there checking him about every 4 weeks (HER timetable, not mine), and of course, each time another bill which the insurance company does NOT covered. Once she declared him 100% back to work (she’s already said he’s sound – and probalby has been since December ’09), they will remove the “exclusion” they placed on the leg once he injured it. Yeah, it’s worth carrying, but it can be a pain dealing with the insurance companies. One thing you really HAVE to remember to do, is to REPORT any time the vet treats for injury or illness. If you do NOT, they can cancel/refuse to pay.
Forgot to note that the rates (based on % of purchase price) also give consideration to the breed and discipline, i.e., a pleasure horse will cost less to insure than an event horse. But in years past, I found I got a lower rate for insuring my Appies because they were regarded as hardy and sound. But ApHC has permitted so much outcrossing and producing of “halter horses” that are like all the other HYPP monsters (and of course, real Appies NEVER have HYPP, but all those QH crosses to Impressive-bred horses….), not to mention the attrition rate for futurity horses (c’mon CONDITIONING and SHOWING yearlings on the lunge line?) that the rates to insure an Appy have gone up. Anyway, since my guy is registered as Half-Arabian AND Appaloosa, the agent told me to insure him as an Arabian – the rate would be lower. Sigh. So I did.
We do have liability that covers our horses and or ponies if they would cause a accident. With the medical/mortality I see there could be issues. Do I want to sign over pony to insurance company if they are terminal which could delay euthanzia hours or days because of red tape? The insurance company doesn’t see pony in distress, they see a payout which they’d rather not. How many colic surgeries come out 100% healthy or possible to cover afterwards? So saving money back for possible vet bills for now, I guess maybe after having professional training AND success in show ring I would consider medical/mortality.
But lets face it, I wouldn’t be able to replace my Curly pony anyways. I would have to breed a welsh pony to a Curly, wait 11 months for it to be born, may or may not have the quality and personality of my boy, wait another 2-3 yrs to see if it’d grow to my preferred heighth(13hh), then wait 1-2 yrs to start training. How do you insure against that kind of time and effort?
OK, I must finally expose my ignorance. I have seen many references to “the VLC” on this blog; please, what is “VLC”?
Very large colt.
In a slightly longer form, Fugly’s extreeeeemly taaaall western pleasure horse she’s currently showing and hoping will prove out as a stallion. I think she calls him that ’cause he’s the biggest horse she’s ever owned
.
Yeah, he is actually not that big, LOL. We were at a show this weekend with a lot of 17-handers and he looked sort of small, ha ha.
Remember, I grew up on polo ponies!
My name is Cheri & I work at an agency that specializes in Equestrian Insurance. I would be happy to answer any questions anyone has or give quotes if anyone is looking to insure their horse. The best way to reach me would be by email or phone: CHubbert@chevalinsurance.com or 800-97-HORSE & I will also try & check here as often as I can today. Thanks!
A little off topic, but I called my vet about the cost of euthanasia. He charges $200 which includes a tranquilizer first to sedate them. The renderer here, Stiles Animal Removal, charges from $120 (depending on the distance — it would cost me $140) to pick up and dispose of the carcass. So $340 is probably cheaper than any deductible I would have to pay, even if insurance did cover euthanasia, and it’s an easy enough amount to save up for in my horse emergency account.
I worry about a major medical event. My mare’s New Year’s Eve injury was $460, and that was just for the first appointment which consisted of sedation and stitching. Ouch!
I forgot to add: this is in Southern California.
I hae to put down my old fellow in February. He was retired in Lodi (NoCal/Delat area). The vet’s charge was about $200, the lady who ran the disposal service charged $190. Of course, it cost more over-all because of the three or four vet visits during his final few weeks, as we tried to determine whether his deterioration could be allieved, but, sadly, no.
I do have insurance for my two dogs. Not because they have monetary value, but because they have emotional value and I DO NOT ever want to be in a position where I am faced with an expensive, lifesaving surgery decision.
I never had insurance on my cats, but the dogs are mischievious, and not quite as streetsmart as cats tend to be. I worry that they might escape and get hit by a car, or get into something poisonous, or whatever.
It costs $12 per month, per dog. If I was more financially savvy I would save the $300 a year into a special savings fund for vet emergencies, but I am not quite that on top of things, and you never know, I could save for two years and have $600 and then face a $5000 surgery bill.
In the end insurance is sort of a form of betting, but the peace of mind that it provides has more value to me than the expense of the premium.
If I had a higher value horse, I would most definitely insure it as well. It sounds kind of mean that I don’t have insurance against major medical for my current horse like I do for my dogs, but my horse is a retraining project, whereas my dogs are like my children!
I have a 14 year old Morgan gelding who I have had for 10 years. I carried mortality/major medical surgical and liability on him for about 6 years until I was financially unable to pay the premium (about $700-$900 a year with a $250 deductible) due to loss of employment. I did have one claim when he was 6 for EPM. I had to have two vets examine him and both had to write reports citing it was not a pre-existing condition before the insurance company paid. I received a letter the same day as the reimbursement check dropping me as a customer as soon as my policy ran out. I had been a customer (Hallmark Insurance Company) of theirs for three years, paying the $700-$900 and my deductible. Their out of pocket for the claim was $1200, clearly they made money on me but dropped him as high risk. Their claim was that the underwriters (AEIG) would no longer cover the horse. I shopped around for an alternative with an EPM exclusion and finally found one (strangely enough ALSO underwritten by AEIG, hmmm) and had it until my job loss. He is a very healthy animal but when not insured he has bowed a tendon and had a puncture wound in a hoof. All told, I have spent about $1500 for those injuries, much less than what I would have paid out of pocket for the premium and deductible for those last four years. Since he is getting up there in age I believe insuring him at this point would be a waste of money. I have a set amount that I am willing to shell out before he would get put down ($5000) which is approximately the rate of a colic surgery here in Illinois. He is valued at $12,000 due to his training and show records as a dressage/event horse, but the insurance is too expensive and prohibitive as they do not cover past a certain age and are very restrictive as to what they will cover due to his career and training. Go figure- if he bows a tendon at pasture they will cover it, but if he does it at an event, or while training for an event, they will not. How is that helpful?
I have never had insurance, partly because of an experience a friend of mine went through 5 years ago with her insured horse (sorry, don’t know which company). She loved the insurance coverage until the day came when it was a life-or-death choice to be made from a bad colic. The horse was in alot of pain, the vet recommended putting the horse down, so they called the life insurance company who insisted that the horse have surgery. My guess is they didn’t want to pay the mortality part of it? Doesn’t seem to make sense… Well, my friend was upset that some nameless person halfway across the country was making her horse’s life decisions. In the meantime, the horse died right there at the barn. When she reported it to the insurance company, they of course thought that she went against their instructions. She got the vet on the phone to convince the guy that the horse died on its own. So the insurance company insisted on an autopsy, and of course she would have to pay for it out of her deductible. My friend has a thing against autopsies and didn’t want her darling horse cut to pieces. So she gave up the fight and didn’t get reimbursed anything.
I shopped for insurance today and I am impressed with The Equestrian Group (http://www.eqgroup.com/). I got a quote for my 4-year old Paso Fino gelding. Mortality insurance (which includes theft coverage and colic surgery!) is $150 per year and medical insurance (which includes injuries and related x-rays, lameness issues, etc) is $400 per year for up to $10,000 worth of coverage. All together, it costs less than $50 per month and should cover pretty much anything that will happen to my baby!
I have been emailing back and forth with one of their agents all afternoon, so let me know if you have any questions about this specific insurer! I liked what I saw, except the fact that coverage stops at age 18.
I’m buying a policy this weekend!!
I’ve never insured any of my animals. I looked into it for my cats a few times, but I was very disappointed with how little was covered – the list of what was NOT covered was super long, and the list of what IS covered is extremely short and specific. The list of what was NOT covered were all of the things – even the weird things – that I’ve ever had happen to a cat. So, theoretically if I had insurance on my cats all of those years it wouldn’t have covered a darn thing. It didn’t even cover any part of a routine visit. That made me abandon that idea. Plus, I don’t think any of my animals would be approved for coverage – there’s something ‘wrong’ with each of them that would probably cause them to be denied.
The pony is over 40 years old, so he’d be denied. The oldest cat is 18 and has several old-age related health problems including chronic renal (kidney) failure. Then the other two cats were rescued from a hoarder – one is FIV+, which the insurance place clearly stated would equal instant denial. My third cat stands the best chance of being covered, but he sort of has a pre-existing health problem in that he seems prone to feline herpes infections (it causes eye infections and upper respiratory tract infections, and it ruined one of his eyes that had to be removed. As long as I give him L-Lysine every day, he’s ok though). So, heck, I don’t think I could have them insured even if I wanted to.
I’m curious as to how much horse insurance costs anyway… what are people paying?
I used to have my mare insured. Major medical/surgical and mortality. Thankfully I did as she had colic surgery just about 3 years ago now. I had just paid my premium about a month before she colicked. I had to pay everything up front, but received a check for the balance paid (less my deductible) less than 2 weeks after the surgery. Knowing she was insured made the decision to do the colic surgery very simple, or at least money didn’t have to be a factor.
Here are the stats:
At time of surgery: 9 year old TB mare
Insured for: $5000
Deductible $500
Annual Premium: ~ $425
Pre-care, Surgery & Post-care= ~$3000 (this is cheap, plus there were no complications)
Savings due to having insurance: ~ $2100
It took a long time, but she’s recovered.
Oh yeah…and we’re in Indianapolis, IN.
I had my OTTB insured for colic and major medical for about five years, but since he came with “pre-existing conditions,” insurance wouldn’t touch him for anything — like “loss of use” or medical procedures like getting his paralyzed flapper tied back — with a 10-foot pole. He’s too old for insurance now, but my biggest problem was not with insuring the horse but with the morons selling it.
One company charged my credit card TWICE for the single premium, and it took SIX MONTHS for them to take the second charge off. When it came time to renew, I received the obligatory “renew at least seven days before the policy expires or your horse will not be covered and we won’t do business with you ever again” threat letters, which I ignored because I had decided to change companies.
About two months after that policy expired, I got a call from the owner wanting to know if I was interested in renewing. I said “no, thanks,” and she wanted to know what had happened. I explained that if it took six months for them to fix an error they had made, what would happen if God forbid I needed to submit a CLAIM?
Next time I do the horse thing, I’ll get insurance before I haul the horse off the lot ;o)
I STRONGLY recommend insurance. I have mortality, liability and 10,000/claim major medical/surgical coverage on 3 of my 4. OTTTB rescue is uninsured as of yet. I had to make a substantial claim when a trainer blew out one of my QHs within the first 3 days I owned her. She developed scratches (untreated) became septic, almost died. I pulled her immediately and trucked her to where I was boarding at the time. She was on IV antibiotics for a week and the swelling in a hind leg didn’t go down, so I tried riding her (walking only) to see if improving the circulation would help. Um, no-she had a P1 fracture, which required surgery. The whole thing was a nightmare, but the insurance company was great. I had NO problems with the claim and they were very supportive and helpful.
I can’t afford random 5-10K events and that is what you are talking about with ortho. and colic surgeries, so for me it is worthwhile.
My broker is also a life-long horsewoman and breeder and she is great to do business with (OK she is a great friend too).
I don’t have horse insurance, nor do I know anything about it. It would probably be a good thing to look into though.
What is the standard rate per month? I’m just looking for a ballpark figure, nothing specific.
I use Equine Inusrance Specialists to cover my Friesians and Gypsies. I’d never be able to replace them now. If you have 100K worth of horses they will give you a multiple horse discount. They have great rates and do a free online quote. Knock wood I have not had to use them for a claim yet.
Does anyone have any recommendations for mature horse insurance? I have an 18 year old arabian mare that needs to be insured while I am away at college and insurance seems to be unavailable if the horse is 15 or older. Any ideas would be helpful… THANK YOU!
Anna, I had the same experience. Unless they are already insured, 15 is the cutoff age. One agent said they would continue the insurance past the age of 15 if the horse were already insured, and I think she said to the age of 18.
Last year my horse jumped the pasture fence (for reasons unknown) and fractured his leg. I tried to rehab him for 5 months, but in the end, the soft tissue damage was far too extensive. The vet upon a follow-up evaluation recommended that he be put down since he would have no quality of life even as a pasture ornament. My big boy was a wild man in the pasture, and it was just a matter of time before we’d have another emergency on our hands.
I had him insured previously in the amount of $7000 (more than his original purchase price, but as Cathy stated, his value had gone up with training and show experience). I think my payements were around $500 per year for mortality and major medical.
Although it was personally one of the worst experiences of my life, I’d have to say that my insurance provider really came
through for me. They did require a field necropsy to be done by my vet to determine and confirm extent of injury. In our case, there was no question, and I received a check.
It was one of the best things I ever did to insure my horse. Without the insurance, I could not have afforded to just slap down a bunch of money for another horse. And, that’s exactly what
Last year, my horse jumped the pasture fence (for reasons unkown) and fractured his leg. He also had soft tissue damage to which we did not know the extent of. After trying to rehab him for 5 months, and after a follow up visit from the vet, it was determined I needed to put him down. The soft tissue damage was far too extensive for him to even live comfortably as a pasture ornament. It was just a matter of time until I had another emergency on my hands.
Logan was insured for $7000 (more than his purchase price, but as Cathy mentioned, the value went up with training and show experience).
Although the whole thing was one of the worst experiences of my life, I am glad to have insured my horse. I never would have been able to slap down major money for a new horse, which was necessary for my sanity. Just needed another horse to focus on and take away some of the grief. The insurance company came through with a check for me.
I think my payment was $500 per year for major medical and mortality. One thing to keep in mind, though, is that loss of use is not normally included in your insurance. You need a seperate indication and there are additional expenses with that. Had my horse qualified as a “Pasture Ornament”, he would not have been covered if I felt I needed to put him down for personal reasons.
In my case, I needed to provide the original bill of sale, and a listing of the shows and ribbons we attended over the time my horse was insured. They accepted this list from my reconstruction based on memory, which suprised me, but we only do schooling shows, so there was no formal record.
All in all, I’d recommend insurance. It saves a lot or heartache over not being able to afford a collic surgery as well.
Funny you should bring this topic up…
Last year I had the most heart warming horse story – I was able to puchase back the gelding I bought as a two year old, broke out for Western Pleasure and trail, and successfully showed in B system and ABRA classes. He was eleven years old when I brought him back home, and aside from being fat and having a rat’s nest for a tail, he was the same wonderful horse. I was so looking forward to rejoining the show scene on a been-there-done-that horse.
Six months after he was back home, my husband came home to find him propped against the barn, trembling and twitching. It was horrifying to watch. After five days with 24/7 care at the local vet clinic, he finally came out of the bizarre state he was in. At this point, his vet bill was $2,000, but he was about 95% of his usual self. Diagnostic tests were inconclusive, and the results from the blood tests took two weeks. We brought him home and he was healthy for 10 days. Then I came home to find him suffering from the same issues. At this point, my vet said he would need to go to WSU as he was obviously was experiencing some reoccurant problem.
Now, as a former WSU student with several veterinary friends, I know how much five days (or more) at WSU would cost. My husband and I are financially capable of taking care of a couple thousand $$ of unexpected costs, but not that much. So I made the heartbreaking decision of euthanizing him at home that afternoon. The blood results came back two days later, and it showed some indication that he may have had EPM.
When I got my new show horse, my husband insisted that we get him insured. The price was quite reasonable (and if you can afford to spend 5k for a horse, you can afford the insurance!) and if anything happens to him, I don’t have to choose between saving his life and taking out a line of credit on my house. I have a halter mare that was just bred, and both she and her unborn foal are insured.
If you’ve been on the fence, call an agent first thing Monday morning!!
Oops. Sorry for the duplicate. Thought I lost the post.
Today’s post is an example of why I read this blog–quite the education and food for thought I’ve received today! The examples of how the terms of each policy relate to reality are particularly helpful. Thanks to those of you who shared your good and bad outcomes.
I am only writing this here because I don’t have your email address.
So you think that children only have to ask for help? Really?
http://tinyurl.com/27fvy5b
This is a partial extract. I dare you to read the entire article on the link above.
Modern Day Slavery in America — Over 300,000 U.S. Children Fall Prey to Sex Trafficking
People may have trouble believing that child prostitution has become a national problem — but it’s on the verge of becoming out of control.
May 19, 2010 |
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Child prostitution has become a national problem in this country. Yes, I know that you have trouble believing that. You don’t want to believe it, so you tend not to.
“Widespread sex trafficking in children?” you may be saying to yourself. “Sure, it happens overseas in places like Thailand and Moldova, and while there may be some of it here there’s not that much of it in our country.”
Based on a months-long investigation and some reportorial digging, I’m here to tell you that you are wrong. We all are. We’re in denial.
In covering news for more than 60 years, I’d like to think that few stories shock me anymore. But this is one of them. We ran across it late last year and the more we dug, the more disturbing it became.
Eighty-year-old men paying a premium to violate teenage girls, sometimes supplied by former drug gangs now into child sex trafficking big time? You’ve got to be kidding. Nope. That’s happening and a lot more along the same lines.
The business is booming. One of the worst areas for it runs along lines running roughly from Seattle to Portland, to San Francisco and Los Angeles, to Las Vegas. But no place in the country is immune.
I never bothered with more than third party insurance … but then I got my filly. She is an imported semen Hanovarian with potential both as a dressage horse and later on as a very valuable broodmare … so insurance was important. Then we had a look at the prices and decided it was probably worthwhile to insure my riding horse too, even though she’s not as ‘valuable’ as the filly, it would cost me a good $7-8k to replace her. So now we have two insured with more than just the third party, it covers their deaths and medical insurance.
With my hanovarian, if she proves successful at dressage her insurance will go up, if I use her as a broodmare instead we will have to reevaluate after she’s had a foal or two.
I have insurance through Cheval and it’s totally worth it. It costs about $1600 per year for mortality and major medical, with an insured value of $42k. When my horse had an accident on a trailer ramp and tore his sacroiliac ligament, the insurance paid almost $10k for stem cell and rehab. The adjuster was a horse person and she would call to check up on my horse, even reassuring me that the treatment was completely standard for that injury and my horse was likely to make a good recovery. I always felt so much better after talking to her! The only things they wouldn’t cover were chiro and hyberbaric chamber treatments.
Haven’t read all the posts, but thought I’d let you know what I know about insurance.
I use The Equestrian Group for our new business’ insurance–they are really good. I have a good rep and she is extremely helpful. Never had any issues, and everyone I know who’s used EG feels the same.
I have friends who have their horses insured that are big time endurance horses, show horses and stallions. However, I don’t know anyone who has just their basic trail buddy insured. All of the people I know who have used their horse medical insurance have been extremely happy with it. They will have something like a $500 deductible and then either get a check or the doctor is paid directly by the company. There of course is never the hassle there is with human insurance.
As for my situation, the way I see it is this: my horses aren’t candidates for colic surgery unless they were a horse that has value beyond a trail horse. I’ve been through colic surgery with my sister-in-law’s horse and she ended up selling him anyway. She didn’t have insurance and after the surgery and vet care associated with it, it was close to $10K that she’d spent overall. He was a $2000 horse and was worth less than that after the surgery. It just didn’t seem worth it to me, especially since she sold him anyway.
I just see it as unless insurance covers yearly exams and shots like pet insurance does, then I don’t see a big need for it for my backyard horses. I am also really one of those people who believe in quality of life. If I had a horse who serious injured a leg and would never be rideable again and it would cost an insane amount of money and pain to the horse to bring them back around just to be a pasture ornament, then no way. I would not want my horse to suffer through that just to be a pasture ornament. My horses love trail riding and would hate being stuck in a pasture the rest of their lives. So to me there’s no quality of life there. I read the stories in Equus about the medical cases and how the horses survived these bizarre and obviously expensive situations. I think where in the hell did that money come from? How are they paying for that? For some of those situations, I wouldn’t have gone nearly as far as they did. I just see it as even if the horse comes around, what kind of pain and suffering will he go through to get there, and what quality of life is he going to have?
My horses have tons of value to me–my mare is my horse soulmate and will never be sold again (I got her back after five years of separation). She is insulin resistant, so I monitor her feed really well. I actually monitor everyone’s feed really well. All my horses get yearly shots, regular hoof care, are dewormed, have a clean area to live in, are bathed, brushed, wear correct fitting tack, and all of that. I do all I can to prevent injuries and to make their lives as comfortable as possible. However, if she has any serious injuries or colics and some Colic Relief or mineral oil doesn’t help her, then I can’t afford to do more. I know she will understand–she will just want the pain to go away. It’s best for me to not financially burden myself, let her go, and then go rescue another horse who needs just as much help as she did.
We have paid over $10K to try to save a collie we had that had VF and died from complications from it anyway. It’s not that that money wasn’t well spent–he was only 3 and we knew he’d have a long life if he came through it. But now we realize that there is only so much we can do financially and emotionally to help an animal along. Our philosophy is that we do what we can, but if it’s their time they’ll let us know.
I’m also one who believes assisted suicide should be legal as well, though. If someone is living off of machines, has no quality of life, is draining their family’s financial funds, and wants to die, LET THEM. I believe that we should be able to euthanize humans just as we can our animals. It’s by far the kindest thing we can do for someone who is still suffering in this world.
BTW, Colic Relief WORKS. I have friends who use it all the time on a mare who tends to colic a lot–she has ulcers–and it works wonders. So we have a few vials on hand as well, just in case!
The colicy mare may also benefit from omeporazole (Ulcer Guard), and a product like Succeed. Ulcer Guard heals the ulcers in the gut and that alone can stop the colicy horse from being colicy. =]
I’ve insured for mortality and major medical for about 15 yrs. Starting with a FREE 6mth old colt whom I trained and showed very successfully (still have him!) – he was insured at one time for $25,000.00. I had a mare who was insured for $20,000.00 (purchase price was half that, but add training and show record for one year and it doubled), but had to be euthanized due to a severely splintered broken leg when she slipped stepping off the trailer… she was three years old. That helped with the vet and final disposal expenses, as well as purchasing a yearling filly who has become an amazing mare. I have her insured for a fraction of what she would likely sell for (she’s not for sale!) at $50,000.00. I never thought I would own a horse of such caliber (I worked as a groom for those who DID own such), and still am amazed. While she had a decent halter career before I bought her, the fact that she is insulin resistant and founderd as a 3 yr old has given me reason to focus entirely on a show-under-saddle and possibly competitive long distance horse for career options. Arabian halter horses just have to have too much weight on them. She’s had a foal – a beautiful colt – for the folks who originally bred and sold her to me. And now I am focused on proving she’s not just another pretty straight Egyptian Arabian to throw out in a field and make babies! Even though I’ve had some embryo transfer inquiries, I believe that both she and I need some time in the saddle (good for my mental health, too!) and mileage. Last night she was running loose in the jumping arena at our local stable and was hopping over all the jumps… everyone was laughing as she was just showing off and saying that she was trying to give me a hint. I was like, sure as I lose a lot more weight and learn better collection at the canter… but probably not ever with her previous founder episode.
Insurance has paid for 1 colic surgery and 1 tragic death, as well as the smaller medical expenses (founder) that add up over time. It has already paid for itself.
Yep, mine’s insured mortality and major medical. Is he a show horse? Hells naw; he’s a so-fugly-he’s-adorable draftasaurus, but he’s MY fugly draftasaurus and being a student it would be crazy for me not to have him insured. If he were in my own backyard it might be different, as I wouldn’t be shelling out wads of cash to board him monthly. As is however, if something DOES happen to him that requires jesus-big medical bills, this is the easiest way for me to cover ‘em.
His insurance was very reasonable as well!
A little off topic..
AND SPeaking of free horses..
SOme one needs to upgrade this mare..
http://rockford.craigslist.org/grd/1752651625.html
I have insurance on my horse through Hallmark, mortality up to his recent purchase price ($4,500) and major medical up to $10,000. I don’t insure my dogs because they have two parents, my husband and I, and between the two of us, our household emergency fund, savings, etc. we could cover any emergencies. My horse really is just mine, my husband is pretty indifferent about him and I don’t think I could cover an $8000 vet bill on my own. In the event of an equine emergency, my husband wouldn’t want to help financially, probably would help in the end, but we’d definitely fight over it, and I’d end up hating him for not being more generous. Long story short, I’ve been jokingly referring to my policy as divorce insurance!
Yah they had horse insurance a real long time ago
P In 1985 I had a horse insured through AgriRisk insurance .. all well and good till he got wobbles…..well I didn’t think to put Loss of Use on him and I was out my premiums for 1 1/2 years because they wouldn’t pay the insurance because this was a loss of use case .. I had him euthanized in the late fall just 6 months after he turned 2 years old and diagnosed with wobbles, after he had the best summer just playing and being a horse with all the others with no worries. Such a waste he was the brightest sorrel I have ever seen just like a shiny new penny with lots of chrome and he was gonna be big and he never did fully fill out yet. He was my first major purchase and I never did get to sit on him once.
If you get life insurance and major medical it is a good idea to get Loss of use.
just an FYI for you all buying insurance for your horses. You have to be very careful about the fine print too on the policies.
Sorry, I haven’t had time to read all the replies yet so it might have come up but according to the first couple of posts it is near on impossible to get insurance on anything over 17-20 yo? What about high end dressage horses who only just achieve their prime at 15-odd (or should, anyways) they compete in the most prestigious events there up to the Olympics, don’t they? Does this mean they, also cannot be ensured for the hundreds of thousands of dollars somebody would lose if they died of colic? I mean, seriously, I have seen ads for some of those Warmblood beasts costing about as much as some people’s houses…. And that well into their teens… Is that not a little bit of a silly rule to have? It sounds like something taken over from human insurance, I guess. The older you get, the higher your risk of disease, I suppose.
But just because a horse is older, if it is still worth a lot of money to the owner it should still be insurable, shouldn’t it? what do owners of such horses do?
I’m currently shopping for insurance on my mare. She still has an active policy on her from her previous owner, but I’m not sure if I want to continue with it. Both of my dogs are insured through our vet, and it has paid off and then some. We saved over $2000 on expenses this past year, and we only pay $60 a month for each of them.
Right now my mom’s horses have liability, but not other insurance. I don’t think she’s priced insurance in a decade or so, I will definitely have a talk with her about major medical. She could afford major bills if she had to, but it would require cashing in some things and insurance would definitely be better, since it sounds as if it’s become more reasonably priced. I don’t have a horse at the moment, but I do have health insurance on my two cats. Several years ago one of my cats accidentally bit one of his own claws while washing his paws and severed an artery in the roof of his mouth. Emergency care (these things ALWAYS happen on a weekend, at night) plus blood transfusions ended up costing $1,200, which thankfully was not a problem at the time. But my husband and I are both freelancers, with wildly varying incomes, and there are plenty of times when it would have been a problem.
Now, see, THAT is a freak accident that you could not have foreseen. Good for you for being willing to spend $1200 on a cat – many would not.
For me, the knowledge that I’d have to meet on a small modest sum out of every vetinary emergency meant that I could keep a horse and know I would be able to give him the care he needed – it gives you tremendous peace of mind to know that you won’t get a 3am call saying ‘can you pay me $8K now? Or else we’ll have to put your horse down.
Thankfully, much as he got knocked up with minor stuff, Crumble never needed serious vetinary intervention – but _I could have afforded it_, thanks to insurance.
Peace of mind. Priceless.
I have never owned an expensive horse but have always had insurance. For me it’s about emergency vet bill cover and public liability cover. My hairy little cob would cost as much to operate on as any fancy show horse and could cause as much damage to someone’s property if she were to unexpectedly get out of her field or be let out by some passing idiot. I love my little mare to bits and I’d want to always be able to do everything possible to help her in case of illness or accident – I’d hate to have to let my personal finances dictate how much help for her I could afford before having her euthanised.
I’ve also learnt my lesson the hard way about WHEN to get a new horse insured. BEFORE bringing it home, take the insurance out. Many years ago now we bought a new horse and planned to arrange insurance as soon as we got him home. We borrowed a friend’s trailer to collect him with because we didn’t have our own. The floor wasn’t as secure as they’d assured us and on the journey home he put his foot through the floor. 6 months box rest and many hundreds of pounds later (remember that this was over 20 years ago so if it were today the bill would be upwards of £1500 at least), the horse was fine and declared fit. My parents’ pockets weren’t looking quite so healthy though.
I used to insure.
I have public liability but now, that is all.
In the UK the insurance covers almost nothing and, although mine have always paid up, they are horrendously expensive and I would be better off putting the money into an animal account each year.
We do not get shots or examinations on dog insurance, and if they can,most of the “cheaper” insurance companies will wriggle out of anything!
We have all horses on the farm insured – the stud and the 2 best mares have Full Mortality (Major Medical also on the stud), everything else (to include the other mare plus all the young stock) have what is called “Limited Mortality” or “Named Perils” insurance which insures for causes of death OTHER than health reasons. That includes death due to an accident while trucking, tornadoes, floods, wild dogs, building collapse, accidental shooting, fire, and a ton of other reasons. The Limited Mortality is super cheap – mine costs $65 for $5000 of value, the Full Mortality is of course more expensive at 3% of value.
re: companies – we use Justin Insurance in Justin , TX, for the Full Mortality – and an agent in New York State (and a good friend) for the Limited Mortality. I would be happy to pass on contact phone numbers to anyone interested. Email me at: gsmangus@wk.net
Susan K. Mangus
Springledge QH Farm
HIckory, KY
I’m from the UK and I don’t know how different horse insurance is here, but I think it is fairly common for most people to have their horses insured here whether or not they are worth a lot of money. My Arab mare, who I have owned since I was 11 (9 years this November!), was bought for £950 (maybe $1300 or something?) and has been insured ever since. It has really been worth it! She had an accident about 6 years ago – she fell while being brought in from the field, so a complete fluke accident and not doing anything dangerous at all – and ended up damaging her knees very badly. She spent the next 4 weeks at the nearest equine hospital with one of her forelegs in a splint and have having assorted treatment including nerve blocks and x rays, so you can imagine how expensive that would have ended up being! Fortunately though, her insurance covered all her treatment, half her livery costs and all the transport costs for getting her there and back, as we don’t have our own transport. Then last year when she had ongoing lameness issues, her insurance covered all the treatment (x rays, numerous remedial farrier appointments, physio, vet appointments) and paid her transport costs again (as the remdial farrier was based quite a way away and we had to travel to him). This is just an ordinary horse who isn’t shown and has never been worth a lot of money, but she’s an incredibly sweet mare who means the world to me and my family, and having insurance has meant that we’ve been able to make sure she has the best possible treatment immediately without worrying whether or not we can afford it.
I did insure my mare for a couple of years while she was leased out. I think it was only $150 so not much. I don’t know who it was thru though, been a few years. I have mixed feelings about it. On a valuable horse, then yes. I decided for my pasture puff it just wasn’t worth it. I think I only had mortality? I think it is a personal decision. Read the fine print. Its not always as simple as it seems. I do know that the value can be increased, but I know of someone who tried to increase it right after their horse won a world championship and were denied. They switched companies. Some do require that you get permission before euthanizing and to me, that is just wrong. Why wait hours if the horse is suffering. Plenty of people have great experiences too so I guess its like everything else.
Sure, there are going to be good experiences and bad. I have worked in personal injury law enough to tell you 352 health insurance company horror stories, for example! But clearly that’s because I was specifically seeing the problems.
Back when I was eventing, I had my competition horse insured. Once we were no longer competing, there were questions about the mare’s value being depreciated and I dropped the insurance.
I got a real eye-opener about insurance costs vs. benefits after my mother died. She had a whole life-policy with her sister as sole beneficiary. Going through her finances, I discovered my aunt would have received much more money had my mother just put the amount she’d been paying in premiums over the years in a basic passbook account.
That’s what I’ve chosen to do for my motley assortment of rescue horses. They may be priceless to me, but they’re worthless in the eyes of an insurance company. They have chronic problems that would make medical coverage prohibitively expensive if I could get them insured at all. So I just put money in the “critter-oh-sh!t” account from every paycheck. If that’s not enough, I can run a tab at the vet, plus I have a high-limit credit card in reserve if all else fails.
So far, it’s worked out well, and I don’t have to worry about some corporation making life-and-death decisions about my horses and dogs.
We are in the process of developing an online presence as well as an Agency Management System for a new Horse Insurance Company – Plains Horizon. The website will be GetHorseInsurance.com.
Anyway, we’ve learned way more about horse insurance than we ever wanted to know. And here’s the bottom line – If you ever expect to replace your horse, you’re crazy not to have this financially responsible asset protection. We have actually been in the horse business for a long time and we used the agent who founded Plains Horizon even before he built the new company. His name is Marvin Tavarez, Jr.
I know this reads like a blatant plug, but #1, the post asked for recommendations and #2, it is VERY VERY VERY important to know your agent. We have had other insurers before and it’s easy to get into a bad situation. Find a horse insurance company that focuses on it’s relationship with you, the horse owner.
Here in New Zealand, insurance is not that common. I tried to insure my older mare but she was older than the company’s limit. Luckily, she’s a tough old bat, and hasn’t needed anything much in the way of vet treatment. But my younger gelding is a complete goober, so he is insured for vet bills with a $200 excess and replacement value. He is the sort of horse that could walk into a padded room and cut himself or fall over his own feet and do a tendon.
Insurance is my peace of mind.
It is about NZ$120 per annum as he is a low-value pleasure horse, but I will look at increasing his value as he gains experience. So far, I haven’t needed to make any claims. But I have friends who have had to use their insurance for hernia surgery, and one where the horse damaged a tendon and she got paid out for loss of use and the vet bills.
For me, it is well worth the money, I hope I will never have to make a claim, but it is there just in case.
I’ve been considering insurance for my new horse, but I’m in an odd situation. I won him, so he was essentially free, but the raffles was $1000 or this colt. Now, he didn’t look like much when I got him as it turns out he came out of a neglect situation (Fugly I sent an email a while back, should I resend?), but now that he’s healthy and almost up to weight, he’s a stunner with awesome movement (he’s a Rocky Mountain, gelding, about 11 months old). He’s only going to be a riding horse, if I show him it’ll only be casually. Should I get his worth assessed before looking at insurance, or do I just say he’s worth $1,000 and go with that? Checking on the internet I see yearling Rockies being offered for $2,000 or more, but I don’t know if they’re actually being sold at that price…
I insured my big girl for when she was being trailered from TX to MI as a weanling because I was so paranoid. I kept up the insurance until finally it became clear to me that the agents were not paying attention. I asked twice for a stall sign and when I got no answer, I canceled. This was Equine World Insurance, and I would recommend them only to my worst enemy.
She’s been healthy so I haven’t looked into replacing the insurance coverage. I would never be able to replace her, though, so I’m flying by the seat of my pants now.
OT…yet another craigslist winner! This poor horse needs to gelded and fed!
Here’s the link to see the photo..
http://columbus.craigslist.org/grd/1752472807.html
He’s under the craigslist columbus ohio link
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Gaited stallion forsale – Need quick sale – $800 (Newark)
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Date: 2010-05-21, 1:50PM EDT
Reply to: sale-sfupm-1752472807@craigslist.org [Errors when replying to ads?]
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I have a 3 yr old bay stallion forsale for $800 or best offer. Very negotiable to good home. I have his mother on the property and must sell him quick. His dam is Kate’s Adora, a bay TWH. His sire is Super Spotted Alen, a black and white spotted saddle/racking horse out of Granville. Dad is registered, mom is not. Has been ridden once bareback with a halter and lead rope. Very gentle and will be easy to break.
Location: Newark
it’s NOT ok to contact this poster with services or other commercial interests
PostingID: 1752472807
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I work at a veterinary practice/surgical facility in the SW. We absolutely recommend getting insurance on a horse. Not just high dollar ones either. If it is a horse you would want to be able to do everything you could to save we say insure it! I can’t tell you how many times we see owners put horses down wishing they had gotten insurance and could have saved them.
It also helps with their care if they do have a major medical issue. I’ve seen horses in the clinic (sometimes days) that the owners couldn’t decide if they wanted/could pay for surgery. Then the horse either goes to surgery and costs them much more (and has a lower chance of making it), or they pay about as much in hospital stays as a full surgery recovery would have been (again horse not always making it). If the horse is insured and it is determined that surgery is recommended to save its life there is no hesitation. Also I have seen nasty leg/eye wounds be hospitalized for long periods of time, up to months, even though it is not ICU and the per day care is less it adds up quickly.
The big thing to worry about with insurance is to be sure you know what you are getting. Major medical and mortality are the coverages you want. We have had people with surgical coverage really get screwed. Surgical only covers the actual surgical fees, not pre and post operative care etc. For a colic surgery the actual cost of the time on the table is around 3-4 grand. The rest is care, surgical does not cover it. So be careful what you get.
Totally unrelated to the blog post … but I just had to comment to THANK YOU for your blog. I’m not a horse person, and know very little about them. I’m just a dog show person who thinks horses are pretty cool and enjoys reading the blog. But my 7 year old daughter had her first riding lesson today. Her lessons are being arranged by my ex-inlaws, and I was along for the ride for the first lesson. Thanks to some of your posts I was able to “check out” the place. Horses were groomed, happy, friendly, good weight, nice feet, paddocks and stalls were clean. There was a helmet provided (which I had actually asked about before we even went), and my daugher got to meet the sweetest little 9 month old filly. My daughter asked if she would be riding the baby, and she was told that it would be a long long time before anyone was allowed to ride the baby. I was thrilled.
The mare she rode for her lesson was SWEET, and gives kisses … she licked my hand! I didn’t know horses did that!
SO at any rate … thank you so much for your blog, and giving a lot of valuable basic information to a noob. I knew what to look for, and when to run for the hills. Thank you, thank you, thank you.
That’s so great to hear! I wish your little one a long and FUN riding career.
OT – I’m looking at buying a TB mare out of a stallion called Light of Mine, I looked the pedigree up on allbreedpedigree but would love to hear from anyone with a horse out of this stud! The mare is a Drop Dead Gorgeous BIG girl… Just interested in what the sibs do for a living!
I don’t know if this is more normal in the UK than in the USA but I’ve never even considered *not* having my animals insured. I don’t have horses at the moment (haven’t for quite a few years) but even when I’ve had them on loan, it’s been as inherent a part of the cost of care as farrier, livery, feed. Even my cat’s insured (which is well worth it because he’s an accident-prone little sod). When it comes to horses, which can so quickly rack up vet bills into the thousands, it seems stupid not to insure.
That said, I’ve never insured for death or loss of use. I don’t want money if they die – I want money to stop them dying.
I have my daughter’s show horse insured, but not my other at home trail horses. Her horse is the most valuable one I have ever owned, though.
Off topic but wanted to pass on another missing horse: from marestare on facebook
Heads up horse friends! Pass this on! Another stolen horse… a mare, Diana, taken from her 4 day old filly in Hays, KS. Owned by RMH Ranch in Hays Kansas… website and pics
http://rmhranch.com/
My little fifteen-year-old Morgan/Paint cross is insured for mortality through Dietrich. It’s a good company; I’d recommend them. I don’t expect anything to happen to my horse, even though he’s a jumper and travels a lot, but I like having things all right and tight and official. It forces me to keep my eye on things. Nothing could replace my Spot, but I insure everything else I have that’s valuable.
i have insurance on my gelding but its just medical so i dont get stuck with finding out how im gonna a big vet bill.i love it.i have it on my dogs too its the best thing ever. i think everyone should atlest look in to getting something like that for there animals. i am looking into getting the other insurance on him and see what its all about and all that kind of stuff i would like to know who everyone thinks the best one is and what they have had to do to get the insurance
Insurance is only as good as what you pay; take a look at what happened to Amigo, One Amazing Horse. Google it to get the website and see what happened to this particular owner and you will learn some interesting facts about horse insurance in this country. I had my horses, dogs and cat insured while living in the UK but cannot afford to do so now that I am back in the US – I simply do not have the money or I would. It was very worthwhile for the dogs and the cat; I never had occasion to use it for the horses. Bear in mind that once a horse turns 15, it is considered a senior citizen in the equine world. This is sad b/c a lot of horses do not come into their prime until they are 12-14 years of age. Having said this, genetics, health and what type of care has been taken of the horse in question plays major factors as well. Do as much research as possible before you spend your hard earned money; it may pay to put it into a savings account, CD or safety deposit box (as interest rates are so horrible right now with no improvement in sight) – just mho…
I have coverage through the Alberta Equine Federation. I don’t know if other provinces/states have an organization like this, but they should. I pay $30 a year for my membership and this is the insurance policy they have for ALL members taken straight from their website:
EVERYONE who rides, handles, or works around or with horses should have the protection of personal liability insurance in case of injury or property damage caused by a horse or horses. This will provide peace of mind for you as a parent, rider/driver, student, coach, barn staff, groom, recreational rider, volunteer, competitor, judge, and trainer. Liability Insurance is one of the main reasons to join the AEF.
When you join, you will automatically receive:
* $5,000,000 Personal Liability Insurance that will protect you, the member if you are sued by a third party because a horse that you own or lease, ride or handle, causes property damage or bodily injury to a third party. This coverage is in force 24 hours a day, seven days a week, and covers the member anywhere in the world.
* $30,000 Accidental Death & Dismemberment coverage if you, the member suffers a catastrophic and permanent injury (or death) related to an incident where horses are involved. This coverage is in force 24 hours a day, seven days a week, and covers the member anywhere in the world.
* Transportation Insurance for Non-Owned Horses. Part of the liability coverage provided through membership addresses the exposure that could arise if you, the member, transports (trailer) a horse that does not belong to you (in a non-commercial situation). Please note – this is not commercial horse transport insurance and is not life insurance for the horse being transported – this is liability insurance to protect you if you are sued by a third party.
Those are included with your membership. For an extremely low price you can also get:
Members Named Perils – Optional Coverage for your own horses(s) in case of death resulting from fire, lightning or collision/overturn of a conveyance in which a horse is being transported. This insures up to a maximum of $4,000.00 and can be applied regardless of the number of horses owned. Losses are restricted to one claim per year.
Enhanced Personal Liability Coverage
The non-commercial care, custody and control of up to a maximum of 3 non-owned horses in any environment. Valuable coverage in circumstances such as:
a) Emergency boarding situations. (Example – the displacement of horses due to a catastrophic event like flood or fire)
b) The neighborly and not-for-profit housing of up to 3 non-owned horses on a short or long term basis.
Optional Accidental Death & Dismemberment Coverage
Provides an ADDITIONAL $50,000 Principal Sum A.D.D. coverage that also includes benefits for Fracture & Dental, which are not covered currently by the basic coverage.
*It is important to note that unlike other types of insurance, A. D. D. policies “stack†– meaning that if there is a loss covered by more that one policy, both or all of the policies respond.*
Optional Travel (out of Province/Country)
Provides $1,000,000 out of province/country coverage for Medical/Hospitalization. Trips up to 90 days in duration, any number of trips/year, worldwide and does NOT EXCLUDE participation in and/or preparing for equine activity/competition. Many policies in the market do exclude such activity.
NOTE: Members must be 69 years old or younger to qualify.
Optional Members Tack
Broad Coverage Insurance, insuring tack & equipment from loss or damage anywhere in North America, limited to $2,500.00, payable once per term, subject to a $500.00 deductible.
You don’t even have to actively show, teach, take lessons or even know how to ride to be a member, this organization is open to anyone who owns or leases a horse and lives in Alberta. Frankly, for $30 per year you’d have to be stupid NOT to be a member if you’re from Alberta.
I also have mortality and medical coverage on my race horses. I wouldn’t have mortality, but it is mandatory to have mortality insurance to have the medical. My horses medical covers up to $10,000 with a $500 deductible. I don’t know what the rate would be for the average person, and I’m not allowed to tell people what I pay. My boyfriends uncle is our broker, we’re both professional horse people and we rarely make a claim, so we get an incredibly good deal. If I do make a claim and it is something that is covered by both this insurance AND my insurance through Alberta Equine then the policies do stack.
I’ve had insurance through Barnes Equine using their Great American Insurance for several years. (www.barnesequine.com) I have personal liability, major medical, mortality and theft. I’ve had to use the medical and they were fast in processing everything. They have several different billing options and the rates are reasonable. They even paid for the bandages, vet wrap, etc all I had to do was provide receipts.
Topic suggesiton…
I would really like to hear your thoughts on the recent AQHA Journal articles on the market and the economy. They are anticipating a market rebound soon, what do you think? The latest article had a by discipline discussion of the market which I thought was really interesting.
I don’t see how the market is going to rebound if the economy does not rebound. I highly recommend following a twitter called themoneygame — it is a GREAT source for easy-to-read articles about the state of our economy, real estate, unemployment, etc. You don’t have to be a financial junkie to understand the content. From what I’ve read, I think things are VERY slowly improving out there but things are far from being all sunshine and roses. I don’t want to see people return to their previous numbers where breeding is concerned and then regret it. Just be realistic – if your foals are all selling quickly for good money (my general rule of thumb is $2000+ – of course that varies by area, but if people ONLY bred foals worth $2000 +, we would surely have a lot fewer disasters to clean up) – then you’re probably producing appropriately to the market. If you have 2 year olds you can’t give away, well, duh. Learn from that.
For all interested parties, I did some volunteer photography for a local equine rescue. There are five Paragallo fillies up for adoption. Photos are posted here: http://www.flickr.com/photos/rockandracehorses
Sorry, better link here: http://rockandracehorses.wordpress.com/2010/05/24/five-paragallo-fillies-up-for-adoption/
I’m an agent at Hallmark Equine Insurance. My main suggestions to our insureds have always been to know what you want your coverage to do for you (Are you mostly worried about getting paid for your horse if you were to lose it? Or do you mostly care about getting vet bills covered if there were an injury or illness?) and ask questions. My job is to help you know what you are buying. PLEASE read your policies (and the wordings are on our website and available for review prior to your paying any money for premium) and ask your agent if there is something you don’t understand. We don’t want you to realize at the time of a claim that you don’t have the coverage you thought you had.
Generally speaking, with the underwriting company we use, the Mortality coverage is available through age 20, although the rate increases every year starting at age 15, and they include some free colic surgery coverage. Major Medical/Surgical and Colic Medical/Surgical coverages can be added through age 15 and Surgical Only through age 17. There are currently no additional medical coverages available for age 18 & over. Vet exams are only required for horses valued over $50,000 or if the horse has a pre-existing condition that may cause underwriting to ask for a vet exam (this doesn’t happen very often though).
Loss of Use is normally approved only for certain uses (mostly Hunters, Jumpers and Dressage horses, along with a couple of other uses) and whether it is worthwhile or not is usually a very individual decision. The coverage wording does allow the company to take the horse in the event of a claim, but this is not what they prefer to do. Usually they will come to an agreement with the owner as to the value of the horse in the condition it is in and take it out of the payout. If your horse has a low value or would most likely keep most of it’s value in case of an injury with a secondary career (think broodmare), it may not be worth buying the coverage.
For horses with low or no value (freebies, rescues, etc.), underwriting will normally accept whatever the actual purchase price was for the value, or in the case of a giveaway, will ask the insureds to write something up describing what the horse can do and if the requested value is in line with the current market (would be what someone would reasonably be willing to pay for that horse) they will usually insure it for that amount. Values can often be increased later if the horse receives additional training, starts competing, etc.
Feel free to contact us if anyone wants a quote or has any questions. Our website is http://www.hallmarkhorse.com (you can request a quote online) or call us at (800) 734-0598.