Equine Insurance questions...
Would anyone be willing to share how much they pay for equine insurance? I'm putting together my costs on purchasing a horse to present to the hubby...basically going to plead my case as to why I need a horse in my life (I lease right now, so thankfully not horseless)
Anyways, I would like to get theft, mortality and major surgical, but if that is too expensive, then would get theft and mortality ins. I just need some ballpark figures to add to my "monthly costs" spreadsheet for my presentation:wink:
I pay AU$45/month for insurance on my yearling. He is insured for less than his true value at the moment, I have him insured for $9500 at present, but they make you re-evaluate their value on a yearly basis, so my premium will increase with that price rise.
He is insured for death/humane destruction, and hi-cap vet bills, so my excess is $1000 and they'll cover the rest after that.
I have Robbie insured for $30,000 CAN (full mortality - so if he dies, I get $30k for him) and his yearly insurance costs $1,000.
That covers full mortality, theft, property damage, rider injury, major medical, surgery up to $10,000, etc.
For medical costs I pay a $500 deductable and then they cover the rest.
Insurance costs do vary with how much you insure your horse for though, my last guy was only insured for $15,000 full mortality and I paid $500/year.
I highly suggest insuring, many people I know have not and cannot afford major medical resulting in euthanizing their horse.
I pay $100 per $1000 of value for mortality. My insurance covers $13,000 for colic, although I'm not entirely sure how that's evaluated.
If you're trying to pre-plan for illness stuff, the rule of thumb in my area is expect to write a check for $200 every time the vet comes out. I keep $1000 on hand each year and it seems to be a good amount for a non-accident prone horse.
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