|
|
 Total Germophobe
Posts: 6443
   
Location: Montana | I thought I'd do a poll to see how common it is for people to insure their horses. I haven't to date (knock on wood), but I've not had an "expensive" horse yet. I mean no disrespect by asking this, I'm just curious. :-) |
|
| |
|
Elite Veteran
Posts: 915
Location: SE KS | I didn't think we had an expensive horse either, til it died & we had to replace it!!!! Husband has been thru 5 horses & we are on the 6th horse & he is still not happy! Hopefully with a little riding and getting to know each other him & the 6th horse will at least be able to get along with each other long enough to team rope!!
|
|
| |
|
 Best of the Badlands
Location: You never know where I will show up...... | All of mine are insured.
The higher value ones have full risk/mortality, colic, and major medical insurance.
We have fertility insurance on our stallions.
We even have an unborn embryo insured this year because we have a lot of money wrapped up in it.
My lesser valued horses (such as open recip mares & yearlings) are covered on our farm policy for things like blizzard, lightning, theft, drowning, ect. |
|
| |
|
 Living within my means
Posts: 5128
Location: Randolph, Utah | We insured a horse we borrowed and when my cousins had my horse they insured him through the home/ranch insurance.
I have a mare right now I wish I'd have insured, but with her soundness issues I doubt anyone would take her now. |
|
| |
|
Industrial Srength Barrel Racer
Posts: 7268
| My horse isn't what I would call "expensive" but I sure don't have the money to replace him so he is insured. |
|
| |
|
 Expert
Posts: 1440
Location: Texas | They have to prove themselves to a certain point to warrant being insured. I was real glad I had my horse insured with major medical past year as we used every penny of it. |
|
| |
|
 Reaching for the stars....
Posts: 12708
| Question on horse insurances, any kind:
If you use it, does the company cancel you or raise the rates?
I have filed precious few claims in my life. We filed one claim on our homeowners after the Doracio (sp?) and that company cancelled our insurance outright.
I filed one claim on my auto insurance back in 1996 and my rates doubled, and have only in recent years returned to anything reasonable.
After these experiences, and dealing with medical claims here and there over the years (where it seems the only objective of the insurance company is to DENY, DENY, DENY) I have a bad attitude toward insurance companies. |
|
| |
|
  Neat Freak
Posts: 11216
Location: Wonderful Wyoming | stallions and broodmares are insured. My show horse and usually anything I start to get going on barrels. I have filed 2 and 1/2 claims. They paid on one that died, missing mare turned up so I canceled that claim and they DID NOT pay on my stud that died last year. That was vet BS though, not the insurance company. My rates have never gone up due to claims. I use LCI and really like them. |
|
| |
|
| I had mortality and major medical on my 5 year old when I bought her last year. They never paid me a dime on any claims because they were minor issues, but yet the company WOULD NOT renew the medical, just the mortality. I checked with other companies but with their "per occurrence" deductibles, it just wasn't worth it. Insurance companies stink!!!
ETA: I do have mortality coverage on mine because that's all I could get :(
Edited by darchick 2014-03-14 2:43 PM
|
|
| |
|
Best of the Badlands
Location: You never know where I will show up...... | My rates have not gone up on the major medical or mortality ones but they will put a rider on ones that you've had issues with. I saved probably $2500 last year on surgeries because I had major medical insurance on both of my mares that had to have chips removed. |
|
| |
|
Veteran
Posts: 105
| The biggest thing as mentioned above is if something happens and we have to go replace them. If they still weren't worth anything then that is different. Most of us can't afford to replace them once we get them to where they are. Plus there are many differences in insurance policies and companies. |
|
| |
|
Neat Freak
Posts: 11216
Location: Wonderful Wyoming | rockinas - 2014-03-14 3:01 PM My rates have not gone up on the major medical or mortality ones but they will put a rider on ones that you've had issues with. I saved probably $2500 last year on surgeries because I had major medical insurance on both of my mares that had to have chips removed.
I put Maj med on anything I am showing and actually competing on. So far it has been a waste for me though. My stud had a knee injury that wasn't fixable and my barrel gelding last year had a broken pelvis. I still think it is to have though, like in Amy's case, it could save a ton on chips etc. |
|
| |
|
Total Germophobe
Posts: 6443
Location: Montana | I don't currently insure my horse (she's a decent bred mare that will probably tap out in the 3D area that I bought as a prospect), but was thinking if I ever bought a horse or had a horse trained that ended up competeing in the 1D-2D level, I think I'd want insurance on that thing because I can see how much it would cost to replace a horse of that caliber. Thanks for all the input...good information out there! |
|
| |
|
 Whack and Roll
Posts: 6342
Location: NE Texas | For a horse that I bought as a weakling and is now a 4 YO, how would one justify the insured amount when the purchase price is much lower than the actual worth of the horse? Not that he's worth a lot, but I would like to protect my time and investment. |
|
| |
|
 Midget Lover
Location: Kentucky | My premiums are cheap, so there's no reason why I didn't insure my broodmare. |
|
| |
|
Neat Freak
Posts: 11216
Location: Wonderful Wyoming | Herbie - 2014-03-14 5:53 PM For a horse that I bought as a weakling and is now a 4 YO, how would one justify the insured amount when the purchase price is much lower than the actual worth of the horse? Not that he's worth a lot, but I would like to protect my time and investment.
add lots of training to him |
|
| |
|
Veteran
Posts: 256
| This is probably a stupid question but how much does it cost to insure a horse say in the 20-25000 dollar range? I know insuring bulls which is for mortality and breeding is about 550.00 for a 6000 bull. that does not include any surgerys needed. I know that insurance on cows with calves at a community pasture costs about 40/head for mortality which only paid out 370 bucks for 1 pair that died. which in my eyes is way too expensive |
|
| |
|
Elite Veteran
Posts: 900
Location: Monticello, AR | I recently sold my seasoned solid horse. He was the picture of consistency, but wasn't in the 1D picture, lol. The family that bought him are super, super nice, but really green. I didn't feel supremely confident that they could detect a problem if it arose, and I took out insurance for a year for them. My conscience would NOT let me turn them loose without having a safety net....and the price was in the $10,000 range....not enough to bankrupt them, but that is still a lot of money. Other than him, I don't have any of my others insured. Probably will regret it one day, but there is only so much money to go around!! |
|
| |
|
Best of the Badlands
Location: You never know where I will show up...... | cristole - 2014-03-14 9:02 PM This is probably a stupid question but how much does it cost to insure a horse say in the 20-25000 dollar range? I know insuring bulls which is for mortality and breeding is about 550.00 for a 6000 bull. that does not include any surgerys needed. I know that insurance on cows with calves at a community pasture costs about 40/head for mortality which only paid out 370 bucks for 1 pair that died. which in my eyes is way too expensive
It'll usually range from 3-3.5% of the horse's value for the mortality insurance. |
|
| |
|
 That's White "Man" to You
Posts: 5515
| rockinas - 2014-03-14 10:57 PM cristole - 2014-03-14 9:02 PM This is probably a stupid question but how much does it cost to insure a horse say in the 20-25000 dollar range? I know insuring bulls which is for mortality and breeding is about 550.00 for a 6000 bull. that does not include any surgerys needed. I know that insurance on cows with calves at a community pasture costs about 40/head for mortality which only paid out 370 bucks for 1 pair that died. which in my eyes is way too expensive It'll usually range from 3-3.5% of the horse's value for the mortality insurance.
Mine are under 3.5% but I understand it can go up as high as 9%. Age, use and breed are usually the determining factors for the insurance companies. |
|
| |
Folks on-line