Horse Insurance (recommendations?)

This topic contains 10 replies, has 7 voices, and was last updated by  pamela_lee 3 years, 10 months ago.

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  • chocolatechip Original Poster
    Topics Started: 1Replies Posted: 1

    Hey there.
    I’m interested in buying mortality, major medical, and surgical insurance for my connemara gelding. I was wondering if anybody had recommendations for insurance carriers. Any bad experiences would also be helpful to know about.
    Thank you!

    pamela_lee
    Topics Started: 0Replies Posted: 2

    Hi,

    I have always carried insurance on my horses. It is quite a shock to get an unexpected bill for thousands of dollars!

    Fortunately (and unfortunately), I just had to use my insurance on one horse, and it has worked out so well that other owners in the barn are now getting policies.

    I’ve used two companies: Fry’s and American Equine Insurance Group (AEIG). The claim I had was on the latter company. The customer service has been polite, professional, and I received payment quickly. My vet took the insurance info down from me and faxed all the paperwork to them, so I didn’t have to bother.

    Rates are best when the horse insured is young, and just purchased. Mortality is normally what you paid for the horse. To get more, you have to prove that the horse is winning shows, makes you money as a stud, brood mare, etc. they aren’t going to take your word that your horse is worth 20K if it is put down. You will need a certified Equine Appraiser to put a market-based worth on the horse. Your horse is priceless to you (and me), but insurance is a business. They like market-based facts.
    I get mortality, major medical ( which usually includes colic surgery). (They normally limit this to 10K.) plus I get liability, which is very good to have. Limit is normally 1M/incident-max 3M. If you fall off your horse in traffic and it causes an accident, guess who is going to get sued for injuries? So-get liability. Loss of use is a must for sires, brood-mares, race horses, etc.

    If you are insuring a pleasure horse, costs are normally in the 500-600.00 range a year with a deductible (mine is 300.00). Show, breeding, event, race horses are much more.

    When filling out the forms for the insurance company, they will ask you about the prior health of the horse, I.e., colic, strangles, etc. be truthful-they can and will check out vet records.

    All in all I think equine insurance is a good thing. As we all know having horses, unexpected illnesses and injuries pop up all the time. Can you afford 10 grand if your horse needs colic surgery?
    I know I breathed a sigh of relief knowing I was covered on my horses latest illness! So far my expenses are over 3 grand! Good luck, and I hope my reply has helped you!

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    chocolatechip Original Poster
    Topics Started: 1Replies Posted: 1

    First off, your horse is absolutely gorgeous. What an amazing area to ride in!
    Thank you so much for all of the information. I can’t even begin to express my gratitude. That is wonderful to know. I absolutely cannot afford a $10,000 vet bill which is exactly why I am getting insurance. :]
    Thank you!!

    Dragon Tea Dragon Tea
    Topics Started: 4Replies Posted: 18

    Hallmark Equine, love them!

    VTMorgan06 VTMorgan06
    Topics Started: 0Replies Posted: 4

    I love Markel, my horses have been with them for several years. I love that you deal with “horse people” when you call.

    Iruhl
    Topics Started: 0Replies Posted: 4

    Hello Chocolate Chip

    If you are looking for great Equine Insurance you should definitely check out our website. Here goes some great information to get you started. I hope you enjoy and find exactly what you were looking for.

    Iruhl
    Topics Started: 0Replies Posted: 4

    Hello Chocolate Chip
    If you are looking for great Equine Insurance you should definitely check out our website. Here goes some great information to get you started. I hope you enjoy and find exactly what you were looking for.

    Iruhl
    Topics Started: 0Replies Posted: 4

    Hello Chocolate Chip
    If you are looking for great Equine Insurance you should definitely check out our website. Here goes some great information to get you started. I hope you enjoy and find exactly what you were looking for. https://www.iruhl.com/insurance/equine-insurance-are-you-sure-youre-insured/

    mudassar1
    Topics Started: 0Replies Posted: 5

    Equine insurance is a great idea on paper, but unless you’ve got a race horse or a high end show horse, insurance isn’t a good deal for most horse owners. In many cases, the deductibles are too high for the average horse owner. I looked into insuring one of my Dressage horses this year in anticipation of the show season. horse blankets Aside from the fact that the several insurance agents that I spoke with openly discriminated against my horse’s breed and his estimated value (which I based on several unsolicited cash offers to buy him..

    Orlenda
    Topics Started: 0Replies Posted: 8

    without insurance we would prob be out on the street having to pay for my mares past medical bills. We have had a policy with Markel since she was young and we first got her, and it has mostly been very good. Like all equine insurance, sometimes when you make a medical claim, on your next policy renewal (done every year), they will “exclude” that disease or body part (so if your horse has an eye condition, they wont cover any treatment for the eyes whatsoever for example)-this has happened to us with my mare, but she is still covered for most things, including accidents which is the most important thing (it can be a MAJOR unexpected expense). I dont think this is a fair policy, but i havent heard of an equine insurer that doesnt do this, so just be prepared for that to possibly happen. all in all, it has been worth having, and Markel did not immediately exclude her eyes on the first policy renewal we had after her condition developed, so we got an extra year of coverage because of that…they are allways very nice and sorry to hear when your horse is sick or injured. We allways deal with the same woman when we call (or email).

    also-for many horses, they may not be insurable forever. older horses may not be eligible for medical or surgical ins…so all the premiums you pay when they are younger “could” have gone into a bank acct to cover expenses when they get older, but that wont help you if they get hurt as youngsters and that bank acct isnt very large. So its kind of a guessing game as to which is best for you. I recommend putting emergency money away in a fund somewhere for your horse and adding to it when you can. that will help you cover deductibles if used early, or cover bigger expenses later in your horses life when they will surely need more medical care, and may no longer be insurable. Having good credit, readily available (a credit card with a high line of credit) is important as well, since you may need to put medical expenses on a card at some point (even if your ins will eventually pay, your vet may require a deposit prior to treatment).

    also-read your policy carefully! typically, you need to let the ins company know as soon as your horse is injured or becomes sick, pref before the vet is called. as well-if you want your mortality payout, you MUST get approval from your ins company BEFORE you euthanize your horse regardless of reason.

    Just a few tips! hope you never need to use it, but for me it was worth having! (my mare ran through a wire fence and slashed herself in multiple places (down to the bone in one), required specialist surgery and a 10 day hospital stay-NOT CHEAP! then she was in the vet hosp for a MONTH with an ulcer on her eye…again NOT CHEAP!) I am a big proponent of wood fencing!

    pamela_lee
    Topics Started: 0Replies Posted: 2

    I just purchased a second horse which I may use for breeding in the near future. This horse is much older than my other horse and a different breed. I contacted my insurance company about the possibility of insuring the horse and I was very happy that they did agree to insure it. I did have a complete vet check with x-rays and bloodwork. The horse had a tattoo for identification.
    Although the cost of insurance was higher than my younger mare, it was not outrageously expensive. My deductible remains at 300.00. I would never expect an insurance company to cover previously injured areas of a horse. They are a business and have to make money. If my horse colicked or had laminitis I wouldn’t expect them to keep covering those areas.

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