Is your horse insured?
 
 

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Is your horse insured?

This is a discussion on Is your horse insured? within the Horse Talk forums, part of the Keeping and Caring for Horses category

     
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        12-08-2010, 09:41 PM
      #1
    Foal
    Is your horse insured?

    Hey everyone,

    Is your horse insured? What is the reason you insured him or didn't insure him? I'm trying to figure out whether or not to insure my horse. We got him for a decent price as he was a prospect that we are now training as a hunter jumper. But I do expect his value to increase once he gets enough training and gets some shows under his belt. Also, if you guys don't mind sharing (if you do I totally understand), approximately how much do you pay for your horse's insurance?

    Thanks!
         
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        12-09-2010, 09:46 AM
      #2
    Foal
    My horse is insured, I wont say for how much, but basically for the price that I paid for him. When I bought him, he was shipped up to Canada from Florida, so we felt insurance would be benificial and decided to stick with it as he has become a great prospect. I think having insurance is great. Hopefully we never need to use it, but just in case, it is only a small dollar amount each month to pay for ease of mind.
         
        12-09-2010, 09:52 AM
      #3
    Foal
    Sorry for the double post. I forgot to mention that the amount you pay for the insurance all depends on how much you insure the horse for and the type of premiums and limits you want to apply to it. I personally have quite a bit of coverage, and feel that it's very affordable. I am sure you could get some information from some of the different insurance companies and "shop around" and get a feel for what they offer.
         
        12-09-2010, 11:25 AM
      #4
    Yearling
    No I never insured any of my guys and I don't know anybody who does either its not a very common practice over here
         
        12-09-2010, 01:33 PM
      #5
    Started
    Yep, my guys have liability and mortality insurance. Liability is required in my area.
         
        12-09-2010, 02:47 PM
      #6
    Weanling
    Absolutely 100%. For medical (up to $15,000) and surgical (up to $15,000), as well as mortality. I believe the medical and surgical is per incident as well. I went with the best company possibly available in my area and 100% do not regret the decision - knowing that if my mare gets hurt and I'll be able to help her through it without basing my decisions on my financial situation is the greatest freedom I could ever have. Good luck with your decision!
         
        12-09-2010, 09:19 PM
      #7
    Foal
    Just an FYI for a couple of things.

    Generally you can only insure your horse for it's value. If the horse wa bought within the last year that will generally be the value (certain things could increase it such as show records, blood lines being proven, ect.) Most of the time if you choose to add medical the limitation will be for the value of the horse up to a certain amount (usually 10k-15k). Most carriers have minimum premiums and generally discourage insuring lower valued horses. For most the rate is 3%-4% for mortality and $300-$500 for medical. So say you have a $10,000 quarter horse and want mortality and medical. You would be looking at approxiamately $600-$650 a year.
         
        12-09-2010, 09:29 PM
      #8
    Showing
    No, my horses aren't insured because none of them were bought for more than $1000 and I don't see the need to
         
        12-09-2010, 09:56 PM
      #9
    Trained
    Mine is insured. Colic surgery alone would wipe me out without it. It's well worth the piece of mind it brings.
         
        12-09-2010, 10:05 PM
      #10
    Yearling
    All four of mine are fully insured for the amount I paid for them. I think it's pretty affordable too. I have mine through the EMO agency and they helped a lot with medical pills (and our horses a very healthy).
    Horses are kind of like car that get damaged more easily according to my mom, so we've insure a horses the day we buy them so they are covered for the trailing home.
         

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