Horse insurance, like most other insurance, seems to be more expensive here in Canada than in the US. I have it mostly for medical care but I put my horse's value at about 50% of his market value just to keep the premium under $100 a month, which kind of sucks. My insurance - despite being the most comprehensive plan I found - also has very limited coverage and a $300 deductible, so I'm still responsible for a lot or even all of the fee when my vet comes out. For me it is really only valuable for major things, like colic, MRIs, etc. I understand why a lot of people choose to forego it altogether.