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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.Â
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.
Â
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 [email protected]  |
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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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