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 Veteran
Posts: 226
 
Location: Middle Tennessee | After all the injuries they've sustained lately, I've decided to look in to insuring my horses. Can someone explain the process? Which types are best? How do I determine/ prove what they are worth and the amount to insure them for? |
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Rad Dork
Posts: 5218
Location: Oklahoma | RodeoGirlJodi - 2014-11-06 9:24 AM After all the injuries they've sustained lately, I've decided to look in to insuring my horses. Can someone explain the process? Which types are best? How do I determine/ prove what they are worth and the amount to insure them for? I have Markel (be sure and ask about AQHA discount, I didn't at the time) just mortality. I just insured him for the amount I gave for him. I don't think they ask many questions about value unless it goes over the $50,000 threshold. I could be wrong, I just know that I didn't have to prove what he was 'worth'. I don't think they will insure anything over 16 years old.
I am going to look into medical...just like you, I've have lots of injuries this year! I'm curious if anyone would care to explain that??
ETA: Mine was all done via a phone call. When I wanted to remove a payee (I bought the insurance before I hauled the horse to his vet check and had it payable to the actual owner) all I had to do was send an e-mail and it was taken care of. They were easy to contact and fast.
Edited by Longneck 2014-11-06 9:31 AM
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Elite Veteran
Posts: 725
| The major medical endorsment that can be added to your full mortality policy is usually a very good endorsment. I will say that depending on the company will greatly determine exactly what coverage you are purchasing. Each company has thier own major med endorsment and they can vary the limits or coverage. Unlike the full mortality every company is different. You will need to spend some time with your agent and discuss the different coverages. Some provide Stem cell, shock wave IRAP, some have limits as to the amount of coverages. Just be carefull and have your agent tell you the various coverages and if any limits apply. In addition depending on the company they provide major med limits anywhere from $5000 to $15000. and some companies will not offer the major medical endorsement unless your horse is insured for a certain limit for full mortality.
If I can be of any help please feel free to give me a call.
Chuck Dunn
Dunn Insurance Agency
P.O. Box 101
Henrietta, Tx 76365
800-888-4896 |
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  JMHO
Posts: 1869
Location: Oklahoma | Chuck,
Does you company offer Major Med for a horse insured for less then $15000?
Say a horse just purchased for $7000. Loss and theft ect at 3.8 %, but was told I couldn't get Major Med unless the value is $15,000 or grater. Is this correct? Thanks!
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Elite Veteran
Posts: 725
| We could go thru Hartford and they do offer a major medical endorsement for the lower valued horses. In addition the rate with Hartford is 3.25%. We have just recently started placing business with Hartford.
Chuck |
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JMHO
Posts: 1869
Location: Oklahoma | I've been calling around and getting rates, what they offer and what the deductables are too. It is interesting. I'm leaning toward Thomas Merritt with Magill Livestock. His rates are in my price range. PM me if you'd like his #. |
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 Veteran
Posts: 101
Location: would like to be where it does not snow | I have been with Wilkins Livestock for years. They have always been very helpful and I feel the rates are reasonable. |
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 Expert
Posts: 4625
Location: Desert Land | I'm currently using Wilkins. I have only been through them about a year. I really like their rates and coverages - BUT I did have to make a claim this summer and it took them about 9/10 weeks to finally reimburse me after I had already sent in all the bills / vet paperwork. Not exactly sure what the hold up was. I kept calling to check in and they were "reviewing it".
I used to use Great American and when they did approve a claim the $$$ came quick. But I had issues with them not wanting to approve putting down a horse even though the was reccomended by my vet. |
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Insuring my Horses