Insurance for your horse.
 
 

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Insurance for your horse.

This is a discussion on Insurance for your horse. within the Horse Talk forums, part of the Keeping and Caring for Horses category
  • Is 25 000 enough to pay for everything that involves getting a horse keeping it for a year
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    09-28-2010, 02:10 AM
  #1
Banned
Insurance for your horse.

I have been considering taking out insurance for my horse, he is not particularily valuable in financial terms, but he is important to me, and should anything happen, I could not replace him any time soon.

So I'd like to hear of your experiences with insurance, and what I should look for in taking out a new policy for him. Thanks.
     
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    09-28-2010, 02:14 AM
  #2
Started
I don't know alot about insurance and costs, but a client at the clinic had insurance on her horse, he colicked and had to have surgery at another clinic. Lots of money and I guess the insurance paid the whole thing, even to my clinic which did the initial workup and made the horse comfortable enough to transport to the large equine hospital in another state that did the surgery. So, guess it must be worth it, at least to this client.
     
    09-28-2010, 02:37 AM
  #3
Yearling
I have pet insurance for my dog which has been a completely and total godsend and I would recommend it whole heartedly to anyone and everyone who could possibly listen! Petplan is the company for small animals that I endorse beyond any doubt.

Naturally, having such great experience, I wanted to get insurance for my horse but I was frustrated to find that almost all equine insurance revolved around mortality insurance. Even more distressing was that most companies would only insure your horse for how much he was "worth" which doesn't do a whole lot of good for those of us who just want to help our best friends if they need surgery!

I'd basically given up on the whole idea when my trainer turned me on to Great American Insurance (through Wells Fargo). They were the only company we could find that would insure your horse for major medical regardless of how much it was "worth."

I got my horse for free but I was still able to insure him up to $10k or $15k for major medical / surgery. You do have to buy mortality insurance along with major medical but it's worth it for the peace of mind.

Horse insurance to me isn't about compensation if he dies (which is good because his mortality payout is as low as it gets) but it's about enabling me to do absolutely anything and everything to save his life if he ever needs it.

Their website is Great American Insurance Group, a Specialty Insurance Provider - but I just purchased it through a Wells Fargo agent so that may be the way to go.

I haven't had to use it yet but it's not too terribly expensive and worth it for the peace of mind IMO. My trainer had to use hers several times and actually was able to use it to get stem cell therapy for one of her TBs.
     
    09-28-2010, 03:14 AM
  #4
Banned
Thanks for the input Wyominggrandma, it is good to have a view from the other side in what treatment they will pay for.

Deerly, I wish I had taken out insurance for my dogs when they were young, but now one is deemed as being old, he is 7 or 8 and so not old to me, and uninsurable because of his conditions. A month of treatment for him costs about the same amount as the 7 years of owning him with insurance - so I don't want to make the same mistake with my horse.

Thanks for your advise, and I am clicking on your link as soon as I finish typing this. :)
     
    09-28-2010, 04:28 PM
  #5
Showing
Quote:
Originally Posted by AlexS    
I have been considering taking out insurance for my horse, he is not particularily valuable in financial terms, but he is important to me, and should anything happen, I could not replace him any time soon.

So I'd like to hear of your experiences with insurance, and what I should look for in taking out a new policy for him. Thanks.
Well it depends how much your horse is worth. I myself, have always had insurance on my horses regardless of how much they cost. Insurance is fairly cheap and it covers a lot of things. I don't what horse insurance companies are available for your area. You may have to ask around your local barn and see where people have gone to set it up, because its different everywhere you go.

Setting up insurance, usually involves you getting a vet to come and do a full vet check and blood work. You will need to get your bill of sale-which proves you're the owner, and you will need registration papers, if you horse is registered. You need to fill the estimate as to how much you think your horse is worth, and your vet will need to verify and sign the paperwork. You then send all the papers out to the insurance company and they make the final decision as to whether or not your horse will be insurance or not.

My annual insurance fee were a few hundred dollars a year, but I always found it was well worth it had anything ever happened to my horses(which thank god it never did).

I would suggest doing it, it's a good protection to have.
     
    09-28-2010, 04:34 PM
  #6
Banned
Mortality is not the only type of insurance you can get for a horse. You can get major medical and loss of use.

You will have to do your own math to determine if it is worth it for you to buy it. I had mortality (which included colic surgery) on my horse until he reached 15 and they would no longer insure him.


One thing you need to know about horse major medical insurance is that once an area has a claim on it that area will be excluded from the coverage in the future, sometimes permanently, sometimes for some number of years, etc.
     
    09-29-2010, 05:54 PM
  #7
Banned
Thanks for the opinions everyone.

Quote:
Originally Posted by Alwaysbehind    

One thing you need to know about horse major medical insurance is that once an area has a claim on it that area will be excluded from the coverage in the future, sometimes permanently, sometimes for some number of years, etc.
I had no idea about this, what a scam!
     
    09-30-2010, 08:25 AM
  #8
Banned
Quote:
Originally Posted by AlexS    
I had no idea about this, what a scam!
Not a scam. Just a fact of how it works.
     

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