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Loss of Use insurance- Question!! Moderators: luluwhit, gotothewhip, cindyt, crossspur, ForumAdmin Jump to page :	Last activity 2014-09-14 8:17 PM 4 replies, 2466 views View previous thread :: View next thread
General Discussion -> Barrel Talk


livinonlove&horses Reg. Jun 2008	Posted 2014-09-12 12:17 PM Subject: Loss of Use insurance- Question!!
Ms. Poutability Posts: 2362 Location: In my own world	I am researching loss of use insurance on a horse I purchased. One company I contacted said the insurance company retained the right to take my horse if I made a loss of use claim and they paid it. Is this the standard? I was kind of shocked. But it's been a while since I have done insurance
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TheOldGrayMare Reg. Nov 2009	Posted 2014-09-12 12:48 PM Subject: RE: Loss of Use insurance- Question!!
Expert Posts: 4625 Location: Desert Land	livinonlove&horses - 2014-09-12 10:17 AM I am researching loss of use insurance on a horse I purchased. One company I contacted said the insurance company retained the right to take my horse if I made a loss of use claim and they paid it. Is this the standard? I was kind of shocked. But it's been a while since I have done insurance Yes, if you make your claim for loss of use, they can take possession of your horse. They are paying you out for not being able to "use" him, so why would you get to keep him? It's for fraud protection to make sure you don't get paid out and then still end up having the horse for it's intended use. Also, I don't think most companies do Loss of Use policies for barrel horses.
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wyoming barrel racer Reg. Apr 2006	Posted 2014-09-12 12:54 PM Subject: RE: Loss of Use insurance- Question!!
Neat Freak Posts: 11216 Location: Wonderful Wyoming	Most won't do loss of use and I won't take it out on my horses even if they did, just for sentimental reasons.
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livinonlove&horses Reg. Jun 2008	Posted 2014-09-14 6:42 PM Subject: RE: Loss of Use insurance- Question!!
Ms. Poutability Posts: 2362 Location: In my own world	Thank you. I'm not familiar with this type. Yes LCI will do it on a barrel horse and they only pay 60% of the insured price. And at that price I feel like I should get to keep it for a pasture pet or trail horse. Doesn't sound like it's worth it
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SwishMiss Reg. Sep 2008	Posted 2014-09-14 8:17 PM Subject: RE: Loss of Use insurance- Question!!
Pig-Bear Dog Lover	There are companies that will pay you a lesser percentage of you opt to keep the horse. It is very rare for them to take the horse, is what I've herd.
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