Horse Insurance in USA and other countries.
   

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Horse Insurance in USA and other countries.

This is a discussion on Horse Insurance in USA and other countries. within the Horse Talk forums, part of the Keeping and Caring for Horses category

     
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        08-01-2013, 11:42 AM
      #1
    Foal
    Horse Insurance in USA and other countries.

    I have been reading a good few threads on here about sick horses and their owners being unwilling or unable to pay for the proper veterinary treatment. I must say I have been quite shocked at a few people being really reluctant to call a vet out when the horse clearly needs professional help.

    It has occurred to me that perhaps insuring your horses against unexpected vets fees isn't usual in other parts of the world?

    I know in the UK and Ireland it is fairly common to take out insurance when getting a new horse to cover against vet's fees and being stolen and public liability etc.

    I would be really interested to hear your comments. Obviously calling a vet out for every minor scratch or snuffly nose is ridiculous whether they are insured or not........just wondering though if the lack of insurance and large vet's bills for more serious ailments and injury sometimes is the decider on this?
         
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        08-01-2013, 06:33 PM
      #2
    Green Broke
    I know insurance is easy to find in the US, but I'm not sure how many owners actually buy it. I have it for my horse (mortality + major medical; liability is covered by my homeowner's policy), but I feel like I'm in the minority
         
        08-01-2013, 07:22 PM
      #3
    Green Broke
    We don't insure ours. Over many years we've found that if just put what the insurance would cost in a "vet fund" we have come out ahead.
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        08-01-2013, 07:43 PM
      #4
    Green Broke
    Neither I nor anyone I know has insurance on their horses. I have a friend who used to have insurance on her horses and one colicked and had to have colic surgery. The insurance paid for most of it, but if I understand it correctly, the insurance company dropped his coverage after that. So my friend dropped all her horses off the insurance plan. They are wealthy enough not to need insurance on their horses anyway.

    I personally don't because I don't have that much excess income and my horse's aren't that valuable.....money wise. Emotionally they mean everything to me though.

    I have lost two horses to colic but they were in their mid to late 20's and I don't even know if insurance would still have covered colic surgery for horses in their mid 20's? But I wouldn't have put my older horses through surgery anyway. So I guess I am taking a risk. I will treat them medically as much as I can within reason. But something big like colic surgery will likely result in euthanasia for a horse of mine.

    Pretty much everyone I know is in the same boat. Except for said friend who can afford to pay out of pocket if she needs to.

    I think it depends a lot on what kind of horses we are talking about. I would bet most valuable show horses are insured. I am in a rural area and most of the horses are just kept for pleasure and trail.
         
        08-01-2013, 07:47 PM
      #5
    Green Broke
    ^^^ Most insurance companies won't insure after around 15yrs old or so.
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        08-01-2013, 09:00 PM
      #6
    Foal
    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.
         
        08-02-2013, 08:57 AM
      #7
    Foal
    Thats interesting that it doesn't seem so popular in America, and I am not sure off the exact exchange rate but 100 dollars a month in Canada does sound a lot of money. I pay roughly 60 dollars a month and that gives me up to 5,000 for any one incident (like colic or a major injury.) But over here we also have the clause where once they have paid out treatment for one area of the horse it is excluded from cover in following years.

    I can see that if you don't have insurance it would really sway your decision on just how far to go with trying to save a horse. And of course I agree, who would want to put an elderly horse through major surgery anyway. But maybe in a younger horse it would be a very sad decision if you just didnt have the funds to help?

    Interesting the differing ways we all have of preparing for those huge unwanted vet bills. I do feel though, that unless you are very wealthy, if you don't insure then to at least put something away each month 'just in case' is probably wise.
         
        08-02-2013, 10:26 AM
      #8
    Green Broke
    I always insure any horse that I would put through any form of major medical treatment.
    So my 32yr old pony is not insured (except for 3rd party at 50 a year) as If he needs any major vet interventions like surgery or sustained periods of box rest I wont put him through it.
    My 5yr old competition horse however is insured to the hilt andinsurance has already paid out over 5000 on him due to a fractured pelvis.
         

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