Do you have insurance for your horses?

Question

I have been thinking about getting horse insurance for my barrel horses. Any recommendations and also what the policies cover?

Answer 1

Policies cover death, theft or loss of use (including if you have to have the horse put down.) You can also get policies that cover medical costs and surgury; these are the "major medical" ones that many posters are mentioning.

Here's what you want to consider in the case of life insurance. How much is the horse worth; in other words what would it cost to replace him/her? When you consider this, figure in what you've spent in training and competing, including what your horse has won (more winnings make him worth more.) Consider what you'd do if you lost one of your horses to death or theft--how much, realistically, would it cost to replace him? That will give you your answer as to whether to insure him.

Life insurance premiums are based on the horse's value, and the insurance company will consider not only his purchase price but his show record and the professional training expenses you've put into him. If your horse is worth a lot, you might consider paying for an independent appraisal so you can insure him to his full value, especially if you bred him yourself or didn't pay much initially.

Major medical covers major health expenses including surgery up to some dollar value and premiums are based on the dollar value of coverage you're getting. Again, think about how you'd cover a major cost such a surgery for colic--if your pocketbook is deep enough to cover that without insurance, you might not want it. If on the other hand you'd be strapped to pay for a major unexpected health problem, insurance can see you through.

Be aware that if you file a claim, the company may exempt you the next year from covering that condition. For example, if you file a claim for colic, when the company renews you they may then exempt all colic claims in the future. So only file if it's an expensive treatment, not for something you can afford the cost of yourself.

Agri-Risk is another company you can try. Get quotes from two or three companies and compare.

If you belong to an association (like AQHA) they may have some insurance companies as corporate partners and you could check them out.

Answer 2

There are plenty of Equine insurance companies out there. You might just try online and see what comes up when you type it in. I wanted to get insurance, but most require you to pay all the premium upfront and for surgical and mortality on a $25,000 horse is gets expensive. Just surgical runs a couple of hundred bucks per year (when I looked into it a number of years ago). You need to read the policy carefully to make sure they will cover what you need. Many mortality clauses will only pay if the euthanasia is approved. Colic or something like a drastic injury would probably be paid, but something like my friend's horse had would not. He had a degenerative bone disease in his foot that rendered him permanently unsound. They wanted him to remain on pasture on pain medications until they no longer worked before they'd approve euthanasia. The horse was young and would have had to go around sore until they decided that it was o.k. to put him down. My friend chose to euthanize anyway and they would not pay. Use caution!! Otherwise the surgical insurance would be a great idea. Many policies also have limits on how long they will cover the horse.

Answer 3

I insure my show horse who if died or was injured I wouldn't be able to afford to replace him. My trail mare is worth under $5000 so she is not insured. You can pick what you want the policy to cover such as major medical etc etc.There are several companies that have website that can give you a feel for how policies work. Just try searching them on the internet.

Answer 4

Both my horses are insured, and thank goodness they are! I have claimed over $14000 in vets fees, and had a loss of use claim on the older one, which paid out $7000, over the last five years.
My policies cover third party liability, vets fees and loss of use. Because they are both on the same policy, I get a 10% reduction in my direct debit.
You need to shop around for the best quality cover, which isn't usually the cheapest option.

Answer 5

touch all equine coverage firms. you will choose for third social gathering coverage as properly as some different varieties, yet they oftentimes roll all of it into one. third social gathering is in the experience that your horse damages something e.g. fences to human beings's components, autos etc - all people can get on your horse as long as they have own criminal accountability coverage. NFU Mutual is nice - they oftentimes pay out (in the event that they're iffy approximately paying out for some thing, say you will take them to court docket and it scares them apparently.) i'm with them and that they have not circled and stated we gained't insure my 19 365 days previous Connemara, like some others might. puppy Plan Equine are meant to be good, yet are somewhat extra costly i've got self assurance. As I stated above, touch the coverage firms, say you're loaning a horse and thinking of doing somewhat competing and additionally talk on your mothers and fathers, instructor and the owner of the horse - the horse's modern-day coverage might conceal him while he's at your backyard and on your care, yet you're able to could provide the owner somewhat money in direction of it (relies upon how the own loan works out fairly and if the horse is staying at its modern-day backyard etc)

Answer 6

If you only have one or two horses then definitely worth it. I don't as I have too many and it would cost me more in premiums than I pay the vet every year. In UK, Petplan, Norwich Union are good and pay out quickly. Make sure they give vets fees, loss of use and 3rd party in case your horse accidently causes damage to someone else or their property.

Answer 7

neither of my horses are but reading these answers is having me reconsider this. I am new to horseowning and didn't think to insure. Great question!

Answer 8

no, but I should have- my horse had eye cancer and we just removed the eye after several expensive surgeries that did not work. Insurance would have saved me a ton.

Answer 9

My Studs and 2 best mares are insured.

Mulereigner I saw a insurance co. advertising for Mules if I find where it was I'llsend you their contact info.

Answer 10

DO IT! At least major medical. I didn't do it with my horse and I wish I had...It would have saved me a lot of money.
Try blue bridle or markel...both have good reputations.