For my horse (valued at $7,500) it will cost me $360 a year. It will cover death (the will pay her full market value price if the horse passes away) Emergency surgery up to $7,500 and emergency medical up to $5,000. It also covers $1500 worth of my tack if it gets lost/stolen at a show.
So how do they determine value? That seems like a reasonable price actually.
They ask you the purchase price of the horse and then that is the value that they start with. If your horse is worth more than that now they ask you to fill out a form telling you why the horse is worth more than that. And if something happens to your horse and it dies you will need a letter from a trainer/vet/farrier etc stating that yes the horse was worth more then what you purhcased it for and what reason the horse was worth more.
What insurance company was that through Tiffany? I have insurance on ours through our farm policy as livestock. It doesn't pay any medical just accidental death and theft. Our tack is also an add on to the policy.
Tiff, which company are you going through? I had Denny with BFL (Classic Equine I think?) as they were the only ones who would insure him for mortality and major medical. (I bought him for $2500 which is less than most companies will insure major medical for.) But it was expensive - $370 for the year, he was insured for $5,000, which included mortality (full payout) and major medical up to $5,000. I am going to be calling around to a few companies this week - since he was valued at $5,000 through one company, I can likely get more out of another company.) Yay for insurance shopping!!