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 Member
Posts: 25
Location: TN | What companies do you trust with insuring your babies? How much does it normally cost to get mortality and loss of use insurance on a horse? Also, how does an insurance company decide a horse's value?
I have never insured one before but I have come to realize that (god forbid) if something were to happen to my current horse, I could not afford to replace him. |
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 Extreme Veteran
Posts: 396
Location: Iowa | I just went through my local insurance agent J&K Insurance in Sutherland, IA. I have mortality (10k) and major medical with 1k deductable for about $800 per horse per year. |
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 Guys Just Wanna Have Fun
Posts: 5530
 
Location: OH | Plains Horizon is who we use, the fee is 3 1/2 % of insured value. We have mortality, loss of use, and colic surgery at $ 2500. |
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Guys Just Wanna Have Fun
Posts: 5530
Location: OH | Mighty Broke - 2014-08-01 2:58 PM Plains Horizon is who we use, the fee is 3 1/2 % of insured value. We have mortality, loss of use, and colic surgery at $ 2500.
Plus, they advertise on here. |
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Expert
Posts: 1611
| Mighty Broke - 2014-08-01 3:00 PM
Mighty Broke - 2014-08-01 2:58 PM Plains Horizon is who we use, the fee is 3 1/2 % of insured value. We have mortality, loss of use, and colic surgery at $ 2500.
Plus, they advertise on here.
what do you mean when you say colic surgery at $2500? Do you mean your deductible that you pay is $2500 and they pay the rest or? |
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  Neat Freak
Posts: 11216
Location: Wonderful Wyoming | astreakinchic - 2014-08-01 1:02 PM
Mighty Broke - 2014-08-01 3:00 PM
Mighty Broke - 2014-08-01 2:58 PM Plains Horizon is who we use, the fee is 3 1/2 % of insured value. We have mortality, loss of use, and colic surgery at $ 2500.
Plus, they advertise on here.
what do you mean when you say colic surgery at $2500? Do you mean your deductible that you pay is $2500 and they pay the rest or?
it usually means that is all they cover of it, but it won't touch the $8000 plus that it costs for colic surgery. We were almost at that point this spring and my insurance covers $5k...we would have opted to put him down instead. |
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Red Hot Cardinal Fan
Posts: 4122
| I have used Albracht Insurance in the past and recently went through them again. 3.4% of value of horse for full mortility, plus I believe covers up to $5,000 in colic surgery.
With them, I have not had to show anything to prove the value of the horse prior to getting insurance on them. (Proof of earnings, bill of sale, etc.) I just stated the value that I wanted and that's what they insured them for. Some companys require that documentation before they will insure them. A few years ago I had to put one down that was insured and I had to provide a bill of sale before they paid me. It was a yearling so there was no additional documentation that I could provide, but I'm sure if it was an older horse I would have had to provide additional information.
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Expert
Posts: 1611
| wyoming barrel racer - 2014-08-01 3:17 PM
astreakinchic - 2014-08-01 1:02 PM
Mighty Broke - 2014-08-01 3:00 PM
Mighty Broke - 2014-08-01 2:58 PM Plains Horizon is who we use, the fee is 3 1/2 % of insured value. We have mortality, loss of use, and colic surgery at $ 2500.
Plus, they advertise on here.
what do you mean when you say colic surgery at $2500? Do you mean your deductible that you pay is $2500 and they pay the rest or? it usually means that is all they cover of it, but it won't touch the $8000 plus that it costs for colic surgery. We were almost at that point this spring and my insurance covers $5k...we would have opted to put him down instead.
I haven't got my recent 3 yr old insured yet and I was talking with a University vet about the rising cost of colic surgery and it has me wanting to reinsure everyone to get the most colic that they will pay in for colic surgery. |
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Guys Just Wanna Have Fun
Posts: 5530
Location: OH | wyoming barrel racer - 2014-08-01 3:17 PM astreakinchic - 2014-08-01 1:02 PM Mighty Broke - 2014-08-01 3:00 PM Mighty Broke - 2014-08-01 2:58 PM Plains Horizon is who we use, the fee is 3 1/2 % of insured value. We have mortality, loss of use, and colic surgery at $ 2500. Plus, they advertise on here. what do you mean when you say colic surgery at $2500? Do you mean your deductible that you pay is $2500 and they pay the rest or? it usually means that is all they cover of it, but it won't touch the $8000 plus that it costs for colic surgery. We were almost at that point this spring and my insurance covers $5k...we would have opted to put him down instead.
Yeah---what they said. LOL. They will pay $2500 towards colic surgery and we are responsible for the rest. We have been with Plains for around 10 years but luckily we have never had a claim, knock on wood. Our studs are who we have insured and our Sun Frost daughters and none of them ever leave the farm. |
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Member
Posts: 25
Location: TN | countrygirl2006 - 2014-08-01 2:32 PM
I have used Albracht Insurance in the past and recently went through them again. 3.4% of value of horse for full mortility, plus I believe covers up to $5,000 in colic surgery.
With them, I have not had to show anything to prove the value of the horse prior to getting insurance on them. (Proof of earnings, bill of sale, etc.) I just stated the value that I wanted and that's what they insured them for. Some companys require that documentation before they will insure them. A few years ago I had to put one down that was insured and I had to provide a bill of sale before they paid me. It was a yearling so there was no additional documentation that I could provide, but I'm sure if it was an older horse I would have had to provide additional information.
So they insured the horse for the amount you requested and didn't require any proof of value until you filed a claim? If your purchase price would have been less than what you had the horse insured for, would they still have paid the full amount of your policy? For example, if you paid $5k for the horse but had it insured for $10k, would they have paid the $10k or would they only give you what the bill of sale said? |
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Red Hot Cardinal Fan
Posts: 4122
| npurvis08 - 2014-08-04 12:05 PM countrygirl2006 - 2014-08-01 2:32 PM I have used Albracht Insurance in the past and recently went through them again. 3.4% of value of horse for full mortility, plus I believe covers up to $5,000 in colic surgery.
With them, I have not had to show anything to prove the value of the horse prior to getting insurance on them. (Proof of earnings, bill of sale, etc.) I just stated the value that I wanted and that's what they insured them for. Some companys require that documentation before they will insure them. A few years ago I had to put one down that was insured and I had to provide a bill of sale before they paid me. It was a yearling so there was no additional documentation that I could provide, but I'm sure if it was an older horse I would have had to provide additional information.
So they insured the horse for the amount you requested and didn't require any proof of value until you filed a claim? If your purchase price would have been less than what you had the horse insured for, would they still have paid the full amount of your policy? For example, if you paid $5k for the horse but had it insured for $10k, would they have paid the $10k or would they only give you what the bill of sale said?
All questions you would have to ask your insurance agent. But yes, they have insured mine for the value I requested without needing me to show proof of value. Although none of mine have been insured for a large amount, so they may require it depending on the value.
I insured one that I purchased this summer, and they said that he needed to be insured for his purchase price. But they did not ask beforehand to see a bill of sale or anything. In your example, I would imagine that you would have to show documentation as to why the horse is valued at the higher price after purchasing if you were to file a claim. But again, questions for your agent. |
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 Elite Veteran
Posts: 928
Location: Northern CA | I use Markel and have had very good experience with them. Would highly recommend. |
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Guys Just Wanna Have Fun
Posts: 5530
Location: OH | It was explained to me that if you insure the horse for a certain value if something happened you would need to back up that figure with some documentation, say comparable horses on the market for the same price. |
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Extreme Veteran
Posts: 322
| I have my horses insured with The Hartford. For my yearling filly its about $500 per year. This includes full mortality, major medical at $7,500 limit w/ $300 deductible, and emergency colic (up to $3000). My major medical also includes harvested tissue treatment sublimit of $750 (stem cell / PRP type treatments) and $300 for emergency transportation due colic should I need to hire someone to pick up my horse.
My yearling rate is 4% - not sure if that is high or not, i really didnt shop for rates with other companies because i work at an insurance agency and we do a lot of business with The Hartford.
I guess I should add under the same policy before she was sold I had my barrel horse valued at $25,000 and her rate was 3.25% with the same options as stated above. Premium was about $1100.
Edited by Mis_Trev 2014-08-04 1:50 PM
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 Elite Veteran
Posts: 999
Location: Sunny So Cal | I use Cinquini Insurance. He is really affordable and saved me a ton of money. His name is Stacey and I love that he has horses too and completely understands. (949) 289-4722 stacey@cinquiniins.com  |
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 Dr. Ruth
Posts: 9891
Location: Blissfully happy Giants fan!!! | Just put policies on 2 horses through Albracht. Super easy. I hope I never have to test how easy it is to get money if something were to happen but from what I have heard they are good to work with.
I read a lot about insuring horses and the one thing that I do without fail is if I am doing ANYTHING with my horses, I use their registered name. Even podunk barrel races. The great (and worst) thing about the internet is you can search anything. Which is great because I can prove I did ride those horses and they did place/win money and they can show why we are valuing why we asked what we asked. Vet bills and other things that have their name attached we can prove too. |
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Hungarian Midget Woman
Location: Midwest | Will anyone insure a 17 yo with a history of sand colic and very mild hock issues, or am I wasting my time looking into that?
ETA: I'd likely just want to do mortality and loss of use... His value I'd set at maybe 5-7K? He's a 3D anywhere but will creep into the 2 or 1D sometimes locally (depending on who is running and if I don't suck at riding him. lol)
Edited by barrelracr131 2014-08-05 12:18 PM
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Guys Just Wanna Have Fun
Posts: 5530
Location: OH | I doubt it, it is hard to get them insured after 16 years old unless you have had a current policy on them. |
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Hungarian Midget Woman
Location: Midwest | Mighty Broke - 2014-08-05 12:23 PM
I doubt it, it is hard to get them insured after 16 years old unless you have had a current policy on them.
Kinda what I figured. I will shoot a few emails and see what comes of it, but I doubt anyone will cover him. He's in extremely good shape, but the older they get, the odds are not in their favor. |
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Elite Veteran
Posts: 928
Location: Northern CA | barrelracr131 - 2014-08-05 10:15 AM Will anyone insure a 17 yo with a history of sand colic and very mild hock issues, or am I wasting my time looking into that?
ETA: I'd likely just want to do mortality and loss of use... His value I'd set at maybe 5-7K? He's a 3D anywhere but will creep into the 2 or 1D sometimes locally (depending on who is running and if I don't suck at riding him. lol)
You typically have to claim all history or past issues with a horse before insuring, and they are often times excluded from coverage. Also know, most insurances will not cover inter-articular injections, even if deemed necessary for soundness, etc. |
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Hungarian Midget Woman
Location: Midwest | halter_ego - 2014-08-05 1:00 PM
barrelracr131 - 2014-08-05 10:15 AM Will anyone insure a 17 yo with a history of sand colic and very mild hock issues, or am I wasting my time looking into that?
ETA: I'd likely just want to do mortality and loss of use... His value I'd set at maybe 5-7K? He's a 3D anywhere but will creep into the 2 or 1D sometimes locally (depending on who is running and if I don't suck at riding him. lol)
You typically have to claim all history or past issues with a horse before insuring, and they are often times excluded from coverage. Also know, most insurances will not cover inter-articular injections, even if deemed necessary for soundness, etc.
I'm getting some quotes back. It seems like they will still offer mortality, but exclude some things as mentioned above. I believe they may also require a vet exam in some cases, but it is possible to insure one this old! |
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Extreme Veteran
Posts: 322
| barrelracr131 - 2014-08-05 11:15 AM Will anyone insure a 17 yo with a history of sand colic and very mild hock issues, or am I wasting my time looking into that?
ETA: I'd likely just want to do mortality and loss of use... His value I'd set at maybe 5-7K? He's a 3D anywhere but will creep into the 2 or 1D sometimes locally (depending on who is running and if I don't suck at riding him. lol)
I'm sure there are companies that are willing to insure a 17yo horse and they can possibly add exclusions pertaining to sand colic or any prior lamesness -- the decision will come to you whether the price is worth it or not. The higher risk - higher price. |
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Hungarian Midget Woman
Location: Midwest | Mis_Trev - 2014-08-05 1:14 PM barrelracr131 - 2014-08-05 11:15 AM Will anyone insure a 17 yo with a history of sand colic and very mild hock issues, or am I wasting my time looking into that?
ETA: I'd likely just want to do mortality and loss of use... His value I'd set at maybe 5-7K? He's a 3D anywhere but will creep into the 2 or 1D sometimes locally (depending on who is running and if I don't suck at riding him. lol) I'm sure there are companies that are willing to insure a 17yo horse and they can possibly add exclusions pertaining to sand colic or any prior lamesness -- the decision will come to you whether the price is worth it or not. The higher risk - higher price.
The price wasn't bad actually that I got back, but I will probably pass considering he's a 3D horse solid that sometimes hits 2nd or 1st div. I'm going to think on it and get more quotes. |
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 Super Woman
Posts: 1365
| I just got done dealing with this. Plains will NOT do loss of use on a rodeo horse. |
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Super Woman
Posts: 1365
| If anyone has insurance for loss of use on a rodeo horse please let us know!! So far I can get everything but that. |
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Extreme Veteran
Posts: 322
| The Hartford will do loss of use for a barrel horse. I dont know what agencies write with them - I did my own since I work for an insurance agency.
I personally did not take Loss of Use - I heard that even if you buy it many companies still dont pay out. Many times our/your definition of 'loss of use' and an insurance companys definition are different. Also my understanding is the insurance company could (many times dont) take your horse if they pay out on Loss of Use. |
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 Born not Made
Posts: 2931
Location: North Dakota | Regarding LOSS OF USE insurance companies.... don't do it.
I called around to several different companies when I was price shopping and I asked all of them about a Loss of Use Policy. They all told me don't do it.
You pay a high amount of money, for what you are getting.
If you file a claim for your lame horse (not dead horse .... but a horse that has lost its use), they come and TAKE your horse.
And you only get a percentage of what your horse is worth, not the full amount.
Either way, a Loss of Use policy is a waste of your money and I don't recommend it.
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 Don't Wanna Make This Awkward
Posts: 3106
Location: Texas | r_beau - 2014-08-05 4:21 PM Regarding LOSS OF USE insurance companies.... don't do it.
I called around to several different companies when I was price shopping and I asked all of them about a Loss of Use Policy. They all told me don't do it.
You pay a high amount of money, for what you are getting.
If you file a claim for your lame horse (not dead horse .... but a horse that has lost its use), they come and TAKE your horse.
And you only get a percentage of what your horse is worth, not the full amount.
Either way, a Loss of Use policy is a waste of your money and I don't recommend it.
Yup I wanted loss of use on my gelding but when I heard they would take him?? Ummm? Take him WHERE? No money is worth knowing that my horse is still safe and happy at my home, especially one that is worth so much to me.
I just recently switched to Wilkins from Markel, my dad handled everything with Markel and I've done everything with Wilkins. When they got my inurance request form they called me and went over everything, I explained exactly how I got to the price I thought he was worth. They agreed with me and everything has gone smoothly thus far. |
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Veteran
Posts: 105
| horseinsurancenow.com handles our insurance with excellent results. Please understand what you buying and he explains it very well. The insurance carrier is the Hartford, but remember you have to have a agent to represent you when you have problems. |
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Veteran
Posts: 105
| horseinsurancenow.com handles our insurance with excellent results. Please understand what you buying and he explains it very well. The insurance carrier is the Hartford, but remember you have to have a agent to represent you when you have problems. |
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 Banned by Booger
Posts: 2168
Location: Huffman, Texas | I use LCI.. one of mine had to have colic surgery...i never read the small print till then..LOL...my mortality and thief policy only covered 3K of the surgery..i had to pay the other 7K...and then they would not insure him for one year after his surgery, he was fine for the year after and then they covered him again..he was 13 when he has his surgery. |
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Insuring your horses?