For mortality coverage you can generally expect to pay premiums of anywhere from 2.5 percent to 4 percent of the horse’s value. That means, for example, that the cost of the annual premium to insure a horse valued at $7,000 will likely be between $220 to $280.
What is the average cost of horse insurance?
- Your horse doesn’t need to belong in a showring to warrant taking out a policy for it. Horse insurance costs around $150 a year, so you can get the peace of mind you need for your animal and know you’re covered should anything go wrong.
How much does it cost to insurance a horse UK?
The cost of insurance to cover death, straying, theft, vets fees is expected to cost a minimum of £25 per month. The cost of insurance will vary quite dramatically depending on the type of cover taken, the value of the horse and intended use, it is not unusual to see insurance costs of over £50 per month.
What insurance do you need to own a horse?
Public liability cover is vital Aside from cover for vet fees, one of the other essential features included in an equine policy is public liability insurance. You need this cover, also known as ‘third party cover’, in case a third party is injured by your horse, or in case your horse damages property, such as a car.
Do I need horse insurance?
Horses require special medical care that can be expensive. If your horse becomes ill or is injured, you’ ll need a quality insurance policy. This form of insurance helps you save on veterinarian bills as well as medications. It’s similar to human health insurance in that it covers part or all of health-related costs.
Why is horse insurance so expensive?
1. Why has horse and pony insurance become so much more expensive? “Insurance premiums reflect the risk. An insurer cannot pay for claims if they have not received enough premium to cover the payments,” explains Nicolina MacKenzie of South Essex Insurance Brokers (SEIB).
How much does a horse cost per month UK?
According to the latest BETA survey, on average during 2019 owners spent £2,652 (£221 per month) on livery or £1,498 (£125 per month) on grazing. Bear in mind, it’s possible to spend an awful lot more. The cost of keeping your horse at a livery yard depends on the location, what you require and the facilities on offer.
What is covered with horse insurance?
Equine full mortality insurance reimburses you the insured value of your horse for death due to accident, injury, illness, disease or humane destruction (when deemed necessary by a veterinarian) and includes theft. Eligible horses must be between the ages of 31 days through 20 years old.
Can a horse be insured?
Insured Value In most cases you can insure your horse for its purchase price or less, if the horse is a recent purchase. If you have owned the horse for some time and believe he has increased in value, you may have the option to insure for more than the purchase price.
Can you insure a horse on loan?
Cover Whether You Own or Loan Horse insurance is also important if you take out a horse on loan and should be included in the written agreement between you and the owner. Some Rider insurance policies also provide cover for emergency vet fees if the horse you are riding is injured and needs immediate treatment.
Do you need a vet check for horse insurance?
What vet certificates do I need to take out insurance for my horse? This depends on the sum insured, the age of your horse, the type of cover you require and the company you insure with. However, if a vet examined your horse before purchase, you should supply a copy of the examination certificate with your application.
What is death of horse cover?
When a horse reaches this ‘Veteran’ age (often between 15 and 20 years) cover is reduced to accidental external injury only for Death and Vets Fees. Most companies won’t cover horses over 15 years for Permanent Loss of Use.
Can you insure a 20 year old horse?
Is my veteran horse too old to insure? No, if your veteran horse is older than 20 years you can get cover under our Veteran Horse policy. There is no upper age limit.
Options in Basic Equine Insurance
The most common forms of insurance coverage obtained by horse owners are mortality and major medical plans, which are approximately equivalent to life and health insurance for people, respectively. In most cases, mortality insurance reimburses a horse owner in the event of the horse’s death. It is possible for the owner to get reimbursement for the entire value of the horse, or only part of the value, depending on the insurance terms. Accidental medical and surgical insurance plans provide for the costs of treating an injury or disease that results from an accident or illness.
Insurance Against Death Every horse has a monetary worth.
Are you willing to carry the financial load on your own, or do you require an insurance policy to assist you in bearing the strain?
Humane destruction and theft are frequently included in the coverage.
- Although age restrictions differ from provider to provider, complete mortality coverage is often offered to horses as young as 24 hours and as long as 17 years old on average.
- For example, if a horse dies as a result of genuine or perceived neglect or other human mistake, a corporation may be unwilling to compensate the owner.
- You may insurance your horse for up to 100 percent of its market value, but the higher the worth of the horse, the higher the premiums will be.
- For the majority of business owners, the most challenging variable to establish is the worth of their company.
- A jumper’s career may be ended by an injury, and the owner may be able to recover up to 60% of the horse’s insured value in this situation.
- Alternatively, some insurers provide two options: a larger payout if the insurer retains ownership of the horse or a reduced reimbursement if the owner retains ownership.
- The purchase of an insurance policy may keep you from having to make the sad decision of whether or not you can afford the veterinary care that might save your horse’s life.
Some companies refer to its coverage as “major medical,” although it frequently includes coverage for surgical procedures as well.
Health insurance policies that cover medical and surgical services often do not cover basic care such as vaccinations and dental treatment, nor do most policies cover elective or cosmetic procedures, nor do most policies cover treatment for developmental or congenital birth disorders.
Other restrictions are rather self-explanatory; for example, don’t expect compensation if an animal is operated on by someone who is not a qualified veterinarian (for example, a pet groomer).
In average, you may anticipate to pay premiums ranging from 2.5 percent to 4 percent of the horse’s worth for mortality insurance coverage.
Inevitably, premiums will be cheaper the lower the claimed worth of a horse being covered, and vice versa; nonetheless, many providers charge a common minimum of $150 for mortality insurance plans.
Adding major medical/surgical insurance to your mortality policy can be complicated.
A wide range of major medical/surgical insurance are available from most providers at a fixed premium, which is defined by the coverage limit (usually $5,000 to $10,000), the deductible (often $150 to $250), and the specifics of the policy coverage.
Choose a somewhat less expensive “surgical-only” insurance, which normally covers only the costs of surgery and after care, in order to save money on medical coverage.
Surgical-only insurance are less frequent than major medical policies, mostly due to the fact that the coverage is less comprehensive and the cost reductions are sometimes insignificant.
Many owners also save money by getting mortality insurance at a fraction of the value of their horses’ full market value.
Insuring for full-value mortality is prohibitively expensive for me, therefore I insure for less than full-value mortality in order to have medical and surgical care.
It’s all water under the bridge at this point.
Regardless of how high the premiums are, they are still far less expensive than purchasing a new horse or paying for serious surgery.
“This is not true.” For example, if you acquire the bare minimum of mortality coverage, which costs $150, together with major medical insurance, which also costs $150, your monthly payment is only $25, or less than a dollar a day.
She currently resides in Thousand Oaks, California, and in her leisure time, she participates in a variety of events. The original version of this story appeared in the May 2000 edition of EQUUSmagazine.
Compare Horse Insurance Policies: Get On The Right Financial Track
Major medical plans, which are approximately equivalent to life and health insurance for people, are the most common forms of coverage obtained by the majority of horse owners. Death insurance for horses, in general, reimburses a horse owner in the event that his or her animal dies. Owners of horses may be entitled to a reimbursement for the entire or partial worth of their animals, depending on the terms of their insurance policies. Accidental medical and surgical insurance coverage pay for the costs of treating an accident or disease that has occurred.
- Insurance for the Unexpected Death of the Policyholder The worth of each horse cannot be overstated.
- This is a difficult but necessary consideration to have.
- Most mortality plans provide coverage for nearly any cause of death, including natural occurrences such as colic, as well as fatal injuries caused by accidents, fire, lightning, and other sources of injury.
- Even odd occurrences, such as a horse being mauled to death by wild canines or a plane’s debris falling from the sky, are covered by certain insurance plans.
- Whenever you are reviewing an insurance, be certain that the exclusions are clearly stated.
- It is also important to examine the quantity of coverage you will really require when purchasing a mortality insurance policy.
- However, the charges for insurance will be greater the more valuable the horse.
According to most owners, the single most difficult variable to decide is the cost.
Unavailability The term “loss of use” refers to a variation on mortality coverage that pays a proportion of the horse’s worth if an accident renders him permanently unable to function in the discipline specified in the insurance policy.
Be sure to read the tiny print, though, since The insurance company has the right to take control of the horse once it has paid a claim under a number of loss-of-use insurance plans.
Indemnification for Medical and Surgical Treatment The influence of technological improvements on horse health care is enormous, yet the expenses of some treatments might be prohibitively expensive.
In accordance with its name, major medical/surgical insurance provides coverage for medical and surgical care for diseases and injuries that occur within the insurance policy’s coverage term.
Diagnostics, drugs, surgery, and postoperative care are all often covered under this plan, as well.
Alternate therapies, such as chiropractic, acupuncture, and magnetic therapy, are frequently prohibited from insurance coverage; however, some companies will consider such treatments on an individual basis in certain circumstances.
Cost-benefit analysis Whether you purchase mortality insurance on its own or in conjunction with medical/surgical insurance, the cost of your annual premiums will vary based on your horse, your location, and the terms you select.
That means, for example, that the cost of an annual premium to insure a horse worth $7,000 will most likely range between $220 and $280.
You’ll pay an additional flat cost based on the coverage limit and the size of the deductible, the amount you’ll be responsible for paying out of pocket if you file a claim.
In addition to the mortality premium, you should budget an additional $150 to $250 every year.
The cost of a mortality policy does not vary depending on the horse being insured.
Diagnostic tests and hospitalization expenses incurred prior to surgery are usually excluded from these programs.
This is mostly because surgical-only policies provide less comprehensive coverage and because the cost reductions are typically negligible.
Additionally, many horse owners save money by acquiring mortality insurance for a fraction of the total value of their equine assets.
‘I never want to be in the situation of having to put a horse down simply because I cannot afford the therapy that could save him.’ According to Rich Maggard of West Coast Equine Insurance Services in Central Point, Oregon, this type of attitude is not unusual.
Nothing can be done about it.
The insured value of a horse decreases as he ages, for a variety of reasons, including the desire to be able to obtain substantial medical coverage while also believing they do not require as much mortality coverage.
The owner of Equine Insurance Specialists in Muncie, Indiana, Andy Beauchamp believes that many people believe insurance is more expensive than it actually is.
Greg Ditto is a freelance writer who specializes in business communications and public relations. A native of California, she currently resides in Thousand Oaks and enjoys a little of event planning in her own time. In the May 2000 issue of EQUUSmagazine, this piece was published for the first time.
- Horse Insurance: What You Should Know
- What to Consider Before Purchasing
- Should I Insure My Horse
- What About My Other Pets
What Are The Different Types Of Horse Insurance?
First and foremost, it is beneficial to be familiar with the many forms of horse health insurance available. Here’s a quick overview of what’s going on:
Veterinary diagnostics, treatment, medication, and surgery for horses who have suffered from disease, accident, or injury are often covered by major medical horse insurance.
In the event that major medical insurance is out of your price range, surgical insurance may be a viable option; however, it only covers expenses directly linked to operation, such as the surgeon’s fee and anesthetic costs. It does not cover hospitalization expenses, which account for a considerable portion of the payment. Having surgical insurance, on the other hand, is preferable to having no insurance at all.
When you obtain a significant medical or surgical coverage for your horse, you are obligated to get complete mortality insurance. Purchasing full equine mortality insurance protects your investment in the event that your horse dies as a result of a sickness or an accident, or if he is stolen and not recovered. The value of your horse is established when you purchase the policy.
If your horse dies as a consequence of an accident or disease, you can obtain limited equine mortality insurance, which would compensate you for the value of the animal. Without having a medical or surgical coverage, you can obtain this form of insurance on your own.
Loss Of Use
Insurance against loss of use is available to you if your horse is injured or becomes unwell and is unable to perform the purpose for which you purchased him, such as giving riding lessons or breeding. It compensates you for the money you would have gotten had you participated in the activity, less routine expenditures. In order to obtain a loss of use policy, you must have significant medical insurance coverage.
Horse liability insurance covers you in the event that your horse causes injury or property damage to another person or animal. Before acquiring this form of insurance, double-check to see whether your homeowner’s policy currently covers the situation.
What Should You Consider When Comparing Horse Insurance Companies?
When comparing equine insurance providers and plans, there are several aspects to take into consideration.
Horse Insurance Cost
As is true of any insurance coverage, finding the cheapest horse insurance is not necessarily the best option. Horse insurance quotes should be compared, but you should also consider your deductibles, the services that are covered, and any other charges that may be incurred. Major medical coverage costs $5,000 per year on average, therefore you may anticipate to spend around $150-200 per year for this plan. The cost of surgical coverage varies substantially. The age, use, and worth of your horse are all taken into consideration when calculating your mortality premium.
Be sure to read the small print on your policy because exclusions might differ from one provider to another.
The majority of horse insurance policies do not cover animals older than 15 years, and they do not cover pre-existing or degenerative illnesses in horses.
More On Pre-Existing Conditions
Every year, horse insurance plans revise their exclusions and their definition of what constitutes a pre-existing ailment. In spite of the fact that you’re renewing your insurance policy, it’s still regarded a fresh policy period. When an incident occurs while your horse is insured, the insurance company may treat the incident as though it were a pre-existing condition throughout the following year.
In order to provide adequate insurance coverage for horses, it is best to work with an agency that specializes in livestock medical and mortality insurance. You should also check to see if the company’s underwriters are experienced in the livestock industry. I’m curious how long the company has been in operation. What is the company’s reputation? Which insurers have the best financial standing according to your state’s insurance commissioner or A. M. Best, a worldwide credit rating firm that analyzes an insurer’s financial strength?
To Insure Or Not To Insure?
If you’re still on the fence about whether or not you should insurance your horse, have a look at the video below for some important aspects to take into consideration.
Are Your Pets Insured?
While we’re on the subject of animal medical insurance, have you considered insuring your companion dogs and cats? With pet health insurance, you may save a lot of money on unexpected medical expenditures in the future. In order to provide you our comprehensivepet insurance evaluations, which comprise more than 20 businesses, our specialists have devoted hundreds of hours to their study. You can also view winners by category in our best pet insurance comparison, where we recognize the lowest price, the most pets, the most reimbursement, the most payouts, and the “best for” categories such as puppies and older dogs, dental coverage, wellness coverage, bilateral conditions, behavioral therapy, and other services.
What horse health insurance providers are you considering for your horses?
About The Author:Sally Jones
Over the course of many years, Sally has worked as a writer and copy editor for Canine Journal. She has over 25 years of expertise in the field of professional writing and editing. Aside from that, she has years of expertise in the fields of public relations, marketing, and fundraising communications, with a particular emphasis on health-care communication. Some of her previous employers and large freelancing clients have included the University of Virginia Health System, the Virginia Commonwealth University Health System, the MCV Foundation, and a variety of local and regional newspapers.
- Since 2015, she has been studying and writing about dogs for Canine Journal, with a particular emphasis on canine health topics.
- Her writing has featured in a number of significant media sites, including The Washington Post, Entrepreneur, People, Forbes, and the Huffington Post, among other publications.
- She and her two kids, who reside in the foothills of the Blue Ridge Mountains in Virginia, are now proud pet parents to all of the animals they have saved over the course of their lives (one dog and four cats).
- They can’t picture their lives without the company of their entertaining and kind animal pets.
- The items and services described here are not under our control, and nothing stated here should be taken as a guarantee of the functioning, utility, safety or dependability of any product or service reviewed or discussed.
- Thank you.
- Disclaimer: The information contained on this website is meant solely for the purpose of reference.
- Please note that the material presented on this website should not be used for diagnosing or treating a health condition or disease of any kind.
It is not intended to be a replacement for professional treatment. If you have a health problem or believe that you may have a health problem, you should check with your health care practitioner.
Equine Insurance Explained
You’re probably familiar with the broad notion of insurance at this point. Insurance plans are intended to safeguard your assets and to reimburse you for the expenses incurred as a result of personal injury or sickness, theft, accidents, and, in the most severe circumstances, the loss of life. Almost certainly, your household is protected by health and life insurance plans in addition to coverage for your residence, personal belongings (including jewelry), and automobiles. Furthermore, if you own a business, you are almost certainly covered by liability insurance.
- Equine insurance is available in a variety of forms to safeguard your investment in horses.
- Insurance may offer you with peace of mind even in the most stressful of circumstances.
- It also allows you to concentrate on the matter at hand because it eases the financial pressure.
- Mortality/Theft A mortality/theft insurance offers the most fundamental level of protection and is necessary before any extra coverage can be added to the policy.
- If your horse dies or is stolen while insured, you will be compensated for the amount of the animal’s insured value.
- Depending on your insurance coverage, further exclusions may apply.
- Limited coverage has exclusions, but full coverage is extensive and covers not only death caused by acts of God (such as a lightning strike), but also death caused by human action and other causes.
NOTE: Many employers now provide up to $3,000 in colic coverage as part of their standard mortality/theft insurance policy.
The rising costs of veterinary care for lameness, injury, and colic treatment may force them to make this decision.
For significant medical coverage to be available, your horse must first be insured under a mortality/theft insurance, as previously stated.
The average cost of a catastrophic medical coverage with a $5,000 maximum is $200 per year.
According to Colorado State University, the majority of its colic patients leave the hospital with a bill ranging from $3,500 to $5,500; in a severe case, charges can go into the thousands of dollars per patient.
If your horse is facing colic surgery and you decide not to put the horse through the stress of surgery, instead opting to euthanize the animal, the firm is not bound to pay the claim under the insurance coverage.
Deductibles are required by law for all major medical insurance coverage.
Exclusions from coverage include pre-existing conditions, elective surgical procedures, and regular veterinarian care like as vaccines.
If your stallion is unable to reproduce due to an accident, illness, or disease, the insurance policy will reimburse you for the stallion’s insured value, which is the amount you paid for him.
In addition, a veterinarian’s assessment of the sperm is necessary.
Loss-of-Use Depending on your horse’s level of performance, you may decide that a loss of usage is in your best interests.
For your leisure riding horse, it’s unlikely that you’ll be able to secure loss-of-use insurance.
Accidental or restricted loss insurance reimburses a proportion of the horse’s entire worth in the event that an accident renders the horse unable to perform his intended function after the accident.
The editors would like to thank Georgia Walker of Integrity Midwest Insurance, LLC for her contribution to this article and for her experience.
Horse Mortality Insurance
Horses are a great passion of yours. It is our responsibility to protect them. Whether your horses are champions, competitors, or companions, our horse mortality insurance may offer you with the insurance protection you require for them.
Why do I need horse mortality insurance?
Markel Specialty’s horse mortality insurance can assist you in covering the costs associated with the death, euthanasia, or theft of your horse, depending on the terms of the policy. Here are just a few highlights from our coverage of horse mortality:
- Claim assistance is available 24 hours a day, seven days a week
- There is no requirement for a veterinarian’s certificate for horses worth under $50,000 and with no pre-existing health issues. Plan options include medical/surgical and surgical-only programs
- Additional benefits include: Emergency colic surgery costs have been included at no additional cost, with optional buy-up limitations available. It is possible to get private horse owner liability insurance for an extra fee. Provision for a 90-day extension of time for some eligible insurance
- Protection for automatic renewal is included at no additional cost.
Waiting until a claim is filed to determine whether or not you have adequate insurance coverage is a mistake. Request a free quotation right now.
What can horse mortality insurance cover?
When it comes to acquiring horse mortality insurance, you know exactly what you want. and Markel Specialty offers a variety of options. Our insurance are agreed-value plans, which means that in the event of a loss, we will pay the amount specified on the policy for the horse in question. All people are at risk of death and thievery. This policy offers coverage in the event of the death, theft, or humane destruction of your insured horse, as well as for illnesses or diseases that affect your horse.
- Death as a result of illness or disease is not covered under this policy.
- Coverages that are optional In certain states, optional coverages are not provided at all.
- Transporation by air When going to and from the United States, mortality coverage can be extended for up to 30 days and is provided for horses awaiting transportation or flying transit.
- Please speak with your Markel agent to learn more about this coverage.
- Expenses associated with an emergency colic surgery In certain cases, emergency colic surgery may be covered by insurance, and it may be offered for horses aged 30 days to 18 years who have no past history of colic or gastrointestinal disorders.
- $2,500 limit | $0 deductible | $0 premium (included for horses with an insured value ranging from $2,500 to $4,999)
- $5,000 limit | $0 deductible | $0 premium (included for horses with an insured value ranging from $5,000 to $4,999)
- $10,000 limit | $0 deductible | $0 premium (included for horses with an insured value ranging from $10,000 to $4,999)
- $15,000 limit | $0 deductible | $0 premium (included for horses with an insured
Optional buy-up limitations include the following:
- Horses with an insured value of $7,500 or greater are eligible for a $7,500 limit with a $0 deductible and a $75 premium
- Horses with an insured value of $10,000 or greater are eligible for a $10,000 limit with a $0 deductible and a $150 premium
- And horses with an insured value of $7,500 or greater are eligible for a $10,000 limit with a $150 premium and a $75 premium.
Enhancement of equine requirements **NEW** Markel is pleased to announce the availability of a new, inexpensive coverage option for horse owners to add to their existing horse mortality insurance policy. Meant to assist with the additional expenditures that may arise as a result of owning a horse, our Equine Essentials Enhancement is designed to help you save money. When you increase coverage to your insurance, you may be covered for the following things: Equine equipment insurance protects you against the loss or damage of any insured horse equipment that you use to ride or drive a horse.
Evacuation in an emergency Our horse mortality insurance may cover the following reasonable expenditures that you may pay in the case of an emergency evacuation of your owned or leased horses that are currently insured by us under a Markel horse mortality policy:
- Horse boarding expenses
- Equine feed expenses
- Transportation expenses to transfer the horse(s) away from the stable
When an emergency evacuation is necessary, it must be carried out in accordance with an order from a governmental or civil authority, and it must be due to an incident caused by a covered cause of loss as specified in the policy. Expenses associated with a funeral and burial In the event of a covered cause of loss, you will be reimbursed for necropsy fees, as well as reasonable expenditures paid by you for the burial, cremation, or disposal of your covered horse(s). There are several different coverage choices to choose from: Option 1: A $89 surcharge is charged.
- Owned horse equipment is subject to a $2,500 per item and $5,000 per occurrence restriction
- Non-owned horse equipment is subject to a $500 per item and $1,500 per occurrence limit. Emergency evacuation costs $30 per day, for a maximum of 15 days. The cost of a horse’s necropsy and burial is $500.
Option 2: A premium of $164. Included are the following topics:
- Horse equipment that is owned has a $5,000 restriction per item and a $10,000 maximum per incident. Non-owned horse equipment is subject to a $500 per item and $1,500 per occurrence restriction. Emergency evacuation costs $30 per day, for a maximum of 15 days. The cost of a horse’s necropsy and burial is $500.
Option 3: a premium of $239. Included are the following topics:
- Owned horse equipment is subject to a $7,500 per item and a $15,000 per occurrence restriction. Non-owned horse equipment is subject to a $500 per item and $1,500 per occurrence restriction. Emergency evacuation costs $30 per day, for a maximum of 15 days. The cost of a horse’s necropsy and burial is $500.
Only a limited amount of permanent incapacity Coverage in the amount of 60% of the sum insured is provided in the event that the horse is rendered permanently crippled as a consequence of a sudden, unintentional, and external injury and is no longer able to be utilized for the purpose for which it was covered. Dressage, Hunters, Jumpers, Western Pleasure, Hunter Under Saddle, and Reining horses are among the disciplines that are available. Horses with an insured value of $10,000 or more are permitted to compete.
- Only medical/surgical and surgical procedures are permitted.
- When an accident, sickness, or injury results in the need for medical or surgical care, medical/surgical coverage will reimburse you for the costs of such services.
- In order to be eligible for medical/surgical coverage, the Mortality insured value of the horse must be at least 75% of the agreed-upon value of the animal.
- All of the states (except CA, DC, FL, LA, PA, WA)
- Disability with a limited duration Ensures that if a horse is rendered fully and permanently incapacitated as a consequence of a sudden, unintentional, and external damage and is unable to be utilized for the purpose specified in the policy, it will be compensated up to 60% of the amount covered. Dressage, Hunters, Jumpers, Western Pleasure, Hunter Under Saddle, and Reining horses are among the disciplines covered. Equine assets must have a value of at least $10,000 on their respective insurance policies. Leasing horses is not possible at this time. Surgical and medical/surgical alone options are available. It is not possible to surpass the amount of mortality insurance in terms of medical or surgical procedures. If you require medical or surgical care as a result of an accident, sickness, or injury, your medical/surgical coverage will pay for the costs. Horses between the ages of 30 days and 18 years old are eligible for this opportunity. A horse’s Mortality insured value must be at least 75% the agreed-upon value of the animal in order to qualify for medical/surgical insurance. For example, if you buy a horse for $10,000, you must obtain at least $7,500 in mortality insurance. States in every country (except CA, DC, FL, LA, PA, WA)
Only for the states of DC, LA, PA, and WA
- Only surgical procedures are covered under Option 1-Surgical only: $5,000 maximum limit | $50 deductible | $237 premium
- Option 2-Surgical only: $10,000 maximum limit | $50 deductible | $317 premium Option 3-Medical/Surgical: $5,000 maximum benefit | $375 deductible | 20% co-pay | $427 premium
- $5,000 maximum benefit | $375 deductible | 20% co-pay | $427 premium
- Option 4-Medical/Surgical: $10,000 maximum benefit | $500 deductible | 20% co-pay | $543 premium
- $10,000 maximum benefit | $500 deductible | 20% co-pay | $543 premium
- Option 5-Medical/Surgical: $15,000 limit | $1,000 deductible | 20% co-pay | $605 premium
- Option 6-Medical/Surgical: $15,000 limit | $1,000 deductible | 20% co-pay | $605 premium
• Option 1: $5,000 limit | $50 deductible | $237 premium; Option 2: $10,000 limit | $50 deductible | $317 premium; Option 3: $5,000 limit | $50 deductible | $237 premium; 3-Medical/Surgical: $5,000 limit | $375 deductible | 20% co-pay | $427 premium; 5-Medical/Surgical: $5,000 limit | $375 deductible | 20 percent co-pay The fourth option, medical and surgical, has a $10,000 maximum, a $500 deductible, a 20% co-pay, and a $543 premium; the fifth option, dental, has a $2,000 restriction. 5-Medical/Surgical: $15,000 limit |
20% co-pay |
$1,000 deductible |
- Option 1-Surgical only: $5,000 limit | $50 deductible | $186 premium
- Option 2-Surgical only: $10,000 limit | $50 deductible | $241 premium
- Option 3-Surgical only: $10,000 limit | $50 deductible | $241 premium
- Option 3-Medical/Surgical: $5,000 maximum benefit | $375 deductible | 20% co-pay | $335 premium
- $5,000 maximum benefit | $375 deductible | 20% co-pay | $335 premium
- Option 4-Medical/Surgical: $10,000 maximum benefit | $500 deductible | 20% co-pay | $426 premium
- $10,000 maximum benefit | $500 deductible | 20% co-pay | $426 premium
- Option 5-Medical/Surgical: $15,000 limit | $1,000 deductible | 20% co-pay | $475 premium
- Option 6-Medical/Surgical: $15,000 limit | $1,000 deductible | 20% co-pay | $475 premium
If you choose Option 1, you will be limited to $5,000 in coverage with a $50 deductible and a $186 premium. If you choose Option 2, you will be restricted to $10,000 in coverage with a $50 deductible and a $241 premium. 3-Medical/Surgical: $5,000 limit | $375 deductible | 20% co-pay | $335 premium; Option 3-Medical/Surgical: $5,000 limit | $375 deductible | 20% co-pay The fourth option, medical and surgical, has a $10,000 maximum, a $500 deductible, a 20% co-pay, and a $426 premium; the fifth option, dental, has a $2,000 limit, a $500 deductible, and a 20% co-pay.
$1,000 deductible |
$475 premium; Option 5-Medical/Surgical: $15,000 limit |
20% co-pay |
- Option 1-Surgical only: $5,000 limit | $50 deductible | $186 premium
- Option 2-Medical/Surgical: $5,000 limit | $375 deductible | 20 percent co-pay | $298 premium
- Option 3-Medical/Surgical: $5,000 limit | $375 deductible | 20 percent co-pay | $298 premium
- Option 3-Medical/Surgical: $10,000 maximum benefit | $500 deductible | 20% co-pay | $338 premium
- $10,000 maximum benefit | $500 deductible | 20% co-pay | $338 premium
- Option 4-Medical/Surgical: $15,000 limit | $1,000 deductible | 20 percent co-pay | $342 premium
- $15,000 limit | $1,000 deductible | 20 percent co-pay
Horse responsibility on a personal level (not applicable for commercial equine operations) Coverage for personal harm or property damage to a third party occurring on or off premises as a result of a covered horse, even if the horse is housed in a stable that is not owned by the horse owner. Optional extra premium per horse per year is available for purchase.
- 1st option: $300,000 limit with a $58 premium per horse
- 2nd option: $1,000,000 limit with a $85 premium per horse
Foal that may be born in the future This endorsement protects against the failure of the prospective foal to be born alive or the death of the prospective foal after it has been born but before the expiration date of the insurance policy. This coverage can only be obtained if the mare has been serviced by the stallion for a minimum of 42 days; a manual veterinary examination of the mare is required to confirm in foal status and sound health of the mare; and ultrasound results (taken between 30-60 days after last service) must be provided demonstrating that there is no evidence of twins are present.
In the event that we pay a claim, Markel Specialty permits you to keep your horse.
In the event of a claim, you will have the option to maintain ownership of your horse as well as return it to competition if you so want.
- Foal in the making With this endorsement, you can be covered if your potential foal does not survive birth or if your prospective foal dies after it is born but before the policy’s expiration date. If the mare is in foal status and in good health, the coverage can only be attached 42 days after the stallion’s last service. In addition, ultrasound results (taken between 30-60 days after the stallion’s last service) must be provided if there is no evidence of twins, which must be done between 30-60 days after the stallion’s last service. Infertility in horses caused by an accident, illness, or disease If your stallion becomes completely and permanently impotent, infertile, or incapable of servicing mares due to disease or injury, this policy will provide coverage. When a claim is paid out by Markel Specialty, the horse is returned to you. If the horse has been castrated or gelded, written confirmation of this must be provided, as well as breed registration papers/certification and any pertinent paperwork. When you get this coverage, you will have the option to not only keep your horse but also to compete with him in the future. In order to purchase this coverage, a current satisfactory veterinary certificate stating that the stallion’s genitalia are suitable for breeding will always be necessary, and an extra premium will be charged in addition to the base premium.
Get the protection and peace of mind you deserve.
Send us an online application or get in touch with one of our Markel Specialty representatives to obtain a price on horse mortality insurance right now.
Equine & Horse Insurance
Horses are used for a variety of purposes, ranging from racing and other commercial activities to being cherished household pets. Regardless of the exact function of your horse, it is a valuable piece of property in and of itself since it is a live animal as well as a valuable piece of property. As a result, having the appropriate equestrian insurance in place to safeguard your horse from calamity is quite vital. Fortunately, an independent insurance agent can assist you in obtaining the appropriate horse insurance coverage for your needs.
To avoid getting ahead of ourselves, let’s take a closer look at this essential coverage first.
What Is Equine Mortality Insurance?
Equine mortality insurance is, in essence, a form of life insurance coverage that is tailored exclusively to horse owners. These insurance plans are purchased to provide coverage for the following sorts of horses.
- Breeding horses, show horses, race horses, riding horses, and pet horses are all types of horses.
Equine insurance pays a death payment to the horse’s owner in the event that the animal is killed as a result of a covered loss.
Because horses are so valuable and expensive to care for and replace, it is critical to have adequate insurance coverage. An independent insurance agent can assist you in locating the most appropriate horse insurance coverage for your needs.
What Does Equine Mortality Insurance Cover?
Equine or horse mortality insurance provides coverage for a wide range of dangers that might cause your horse to lose his or her life. Accidents, injury, sickness, disease, and even theft are frequently covered under this policy. In addition, coverage gives the following advantages.
- Medical costs for the horse that are considered major include: veterinary medical treatment or surgery as a result of an accident, illness, or disease
- Expenses associated with the surgery: Equine procedures are expensive, and this coverage reimburses you for the costs of surgery up to a set level if your horse is injured, has an accident, or develops an illness. Lost use: If your horse is not suitable for its initial use, as specified by the policy, due of accident, injury, illness or death, you can be compensated for your losses so that you do not suffer significant financial losses. Infertility of a stallion in your breeding program: If a stallion in your breeding program does not produce as expected, this coverage might assist you in being reimbursed.
Optional coverages can be added to these main coverages as needed, including the following.
- Colic surgery expenses: This benefit specifically covers the costs of colic surgery for your horse. Horse you’ve just acquired: Coverage might provide additional protection for a newly purchased horse. A mare’s worth has been increased, and the coverage limitations for a mare who is pregnant have been raised to include the cost of a stud charge and an embryo.
If you are looking for an equine mortality policy, an independent insurance agent can assist you choose which coverages are the most crucial for you to seek for.
Why Is Equine Mortality Insurance Important?
Horses not only take a great deal of upkeep, but they also cost a lot of money to keep healthy. Horse replacement may be a difficult experience, both emotionally and financially, which is why it is vital to have insurance coverage for your animal. Take a look at a few fast horse racing statistics from racetracks around the United States.
- The number of horses who die at racetracks in the United States is on average 24 every week. Since the beginning of the decade, around 6,600 horses have displayed indications of injury at racetracks. In the previous three years, more than 3,600 horses perished while training or racing at state-licensed facilities.
Having equine insurance may help you and your farm stay afloat in the case of a disaster that results in the death of your animal, which is especially important because horse fatalities are not only common but also expensive.
What Is Equine Liability Insurance?
Owners and renters of horse-related properties can get commercial equine liability insurance to protect themselves and their animals. If you provide horse boarding or riding instruction, having enough coverage is essential. It is especially necessary to get coverage if you are involved in horse racing, horse breeding, or horse training professionally. The usage of equine liability insurance is also common among commercial organizations that hold horse exhibitions or equestrian competitions, sell horses to the public, hire horses for recreational purposes, or conduct team roping or penning training.
Equine liability insurance covers the following:
- In the event that a third party is hurt or property of a third party is damaged, you are protected under this provision. In the event of a fire that you started, your legal obligation will cover you if you cause damage to other people’s property
- Medical payments: This coverage extends to non-employees who are harmed on your property. Professional liability insurance provides coverage for inadvertent errors made by those working in the equine industry. Defends your business or advertising if you do harm to someone else’s reputation and are sued as a result of your actions
- Items/completed operations: Protects any work you conduct in the event that it causes harm or injury later on, as well as any products you distribute.
An independent insurance agent can provide you with further information about the necessity of equine liability insurance and assist you in selecting the most appropriate coverage for your needs.
How Can I Cover My Horse Farm?
Equinsure concentrates on protecting horse owners against the terrible loss of their horses, while equine liability insurance protects owners against litigation, horse farm insurance provides a more comprehensive range of coverage designed to safeguard commercial horse farms.
Horse farm insurance usually covers:
- Agriculture disruption: If your barn or stable is rendered unusable as a result of an insured loss, this coverage will repay you for the expenses incurred in order to continue paying bills and operating your farm. You can also choose to include system failures for computers, equipment, and mechanical devices in your insurance policy. Livestock coverage: Provides mortality coverage for any additional livestock that you may possess. Property damage:Provides coverage for physical damage to structures on the farm caused by covered dangers such as certain natural disasters, vandalism, fire, and other perils. Theft of agricultural equipment:Provides coverage for damage to farm equipment, such as horse feeds, caused by a covered risk, including physical damage and destruction or loss.
Adding equine liability insurance to a horse farm insurance policy is usually a straightforward process. For additional information, contact an independent insurance agent.
How Much Does Horse Insurance Cost?
Depending on the kind and amount of the coverages you select, the cost of your individual horse insurance will vary. Horse insurance can cost anything from $150 to $280 per year, depending on the circumstances.
Some factors that influence the cost of your horse insurance are:
- The sort of insurance coverage you purchase
- The limits of the insurance coverage you purchase
- The number of horses you have under insurance coverage
- The degree to which your horse is at risk
- The geographical location of your farm
An independent insurance agent can assist you in obtaining specific estimates for horse insurance in your region by researching the market.
Cost of Equine Insurance by Horse Type
The sort of horse you own is a significant role in determining the cost of your horse insurance policy, and this is something you should consider. Check out the table below to get a better sense of how much you may expect to pay for insurance coverage.
|Horse||Price Range||Coverages You’ll Need||Coverage Cost|
|Recreational/Riding||Up to $1,500||Mortality, theft, major medical||$400-$500|
|Youth show horse||$900-$4,000||Mortality, theft, major medical||$1,100 – $1,250|
|High-performance||$10,000-$40,000||Mortality, theft, major medical, loss of use||$1,100 – $1,250|
|Breeding stallion||$10,000-$40,000||Mortality, theft, major medical, accident sickness disease||$1,225-$12,000|
|Senior||No Value||Coverage depends on age||After age 14, costs increase significantly|
Who Sells Equine Insurance?
Equine insurance is offered from a wide range of insurance carriers, and dealing with an independent insurance agent is the most effective approach to locate the best carrier for your specific needs and circumstances. They are knowledgeable about which insurance companies to propose to match your needs, and they can make educated recommendations based on the company’s reliability, pricing, and other considerations.
While many insurance firms may be able to arrange an equine insurance policy for you, the availability of coverage may also be dependent on where you reside. Here are a handful of the most reputable firms that provide equestrian insurance.
Why Are Independent Insurance Agents Awesome?
It’s a straightforward process. When you work with an independent insurance agent, they take the time to look for and compare insurance rates on your behalf. Furthermore, they will cut through the jargon and make the tiny print more understandable so that you know precisely what you’re getting. Independent insurance brokers also have access to a large number of insurance providers, which allows them to find you the finest equine coverage, accessibility, and affordable price possible while working for you on your behalf.
Six Types of Equine Insurance
It may be quite expensive to own and maintain a horse, especially if you are not well-prepared financially. A horse that becomes critically ill might end up costing you a lot of money in medical expenses. If the worst case scenario occurs and your horse does not make it, you will not only be personally upset, but you will also lose your financial investment in the horse as well. Unless your horse is returned, you will be left without a horse and without the financial means to purchase another if it is stolen.
Equine insurance is a good method to safeguard both your horse and your wallet at the same time.
You can also purchase insurance to cover you in the event of a liability issue involving your horse, such as if someone is injured while riding or handling him, or if he causes damage to a neighbor’s property.
Examine the numerous forms of equine insurance that are available to horse owners, starting with the following:
1. Major medical.
Major medical insurance is the first sort of horse insurance to be considered. It goes without saying that if you have a significant medical insurance coverage for yourself, you are already familiar with the basics of how it works for horses. Equine medical insurance provides coverage for veterinary expenses such as diagnostic treatments, surgery, medication, and veterinarian visits that are related with an illness or accident in a horse. For the most part, plans require you to pay a deductible for each occurrence, and they all have a limit on how much the insurance will pay out for each incident and per horse every year.
For example, if your horse colics and requires surgery, and your insurance company covers a portion of your vet cost, the policy may not cover colic the following year if the policy is renewed at the end of the year.
In addition, all insurance firms have age restrictions. If your horse is 15 years or older, you will have a difficult time getting substantial medical insurance that will cover him, but this varies from company to business.
Surgical insurance is the second form of horse insurance available. The difference between surgical and major medical plans is that major medical policies cover all sorts of veterinary bills, but surgical policies only come into effect if your horse requires surgery. They pay for expenditures that are directly linked to the surgery, such as the fee charged by the surgeon and the cost of the anesthesia administered to the horse during the operation. These plans do not pay for hospitalization expenses before and after the surgery, which might account for a significant portion of the costs.
3. Full mortality
Full mortality horse insurance is the sort of equine insurance that follows. To ensure that you will do everything necessary to save your horse, insurance firms require that you acquire complete mortality insurance (and vice versa) when you obtain a significant medical or surgical coverage on him. If your horse dies as a result of a sickness or accident, or if he is stolen and not recovered, complete mortality insurance will compensate you for the previously specified value of the horse, which is calculated at the time your horse is insured, plus any additional costs.
4. Limited mortality
The value of your horse will be reimbursed to you if it dies as a consequence of an accident or another defined reason covered by limited mortality insurance. You do not need to have a medical or surgical insurance policy in place in order to obtain this sort of coverage, though. The majority of people who obtain restricted mortality insurance do so because they have unique conditions that put their horse at danger of being involved in a horse-related incident. Suppose you’re transporting your horse across the nation.
If your horse is killed in a trailer accident while being transported, the insurance company will reimburse you for the amount you stated for the animal’s worth.
5. Loss of use
Loss of use insurance covers you in the event that your horse is damaged or gets unwell to the degree that he is unable to perform the function for which you purchased him—typically riding. The insurance company pays out a preset sum of money, which is based on a sum of money that has been agreed upon by you and the insurance company. When you purchase a loss of use policy, you are also required to have major medical insurance as well. Although loss of use insurance appears to be a good idea, it may be extremely difficult to collect on these policies since it is difficult to demonstrate to the insurance company that a horse is no longer usable for the reason for which it was insured in the first place.
Some plans additionally demand that the horse be euthanized or that the owner surrender the horse to the insurance provider in order to be eligible for a payout.
6. Personal liability
You are protected if your horse is damaged or gets unwell to the degree that he is unable to perform the function for which you purchased him—in most cases, horseback riding. You get a preset sum of money from the insurance company, which is based on a sum of money that both you and the firm have agreed upon. When you purchase a loss of use policy, you must also get significant medical insurance. However, although loss of use insurance appears to be a good concept, it may be very difficult to collect on these policies since it is not always possible to demonstrate to the insurance company that a horse is no longer usable for the reason for which it was insured in the first instance.
Getting Started with Different Types of Equine Insurance
The cost of horse insurance is determined by a number of criteria, including your location, the reported worth of your horse, and the type of coverage you choose. Major medical and mortality insurance for horses normally costs between $400 and $800 per year, depending on the worth of the horse, the deductibles you set, and the payment ceiling you choose. Asking your physician for a recommendation is the most effective approach to discover a reputable horse insurance. Veterinarians interact with horse insurance companies on a regular basis and are familiar with which firms pay out the quickest and most frequently.
Consult with your horse-loving friends and industry pros to find out who they recommend.
Before you sign up for an insurance policy, ask the insurance agent a lot of questions regarding the policy and the company that backs it.
- What is the cost of my annual premium
- Are there any exclusions from the insurance
- What is the policy’s deductible
- What is the percentage of each claim that will be paid
- And what is the percentage of each claim that will be paid
- Which firm is responsible for underwriting the coverage
- What is the length of time that company has been in operation? (You are looking for an answer that indicates that the firm has been in operation for at least ten years.)
Understanding the many types of equine insurance plans available might assist you in determining which, if any, policies are most appropriate for you and your horse. This essay first published in the September 2009 edition of Horses USA magazine.
Pet Insurance for Horse in 2021
Due to the complexity of horses, they require an insurance coverage that provides protection against a wide range of potential difficulties. Aside from the usual health concerns and ramifications, horses are also prone to accidents when being ridden, so you’ll need a coverage that covers all of the bases. Pet Assure is a long-standing alternative to your standard insurance company, providing coverage for horses of all ages and breeds, regardless of whether or not they have pre-existing medical concerns.
What Does Horse Insurance Cover?
Your horse’s health and treatment needs may need the purchase of horse insurance, which can give financial assistance for any of these needs.
Public liability, death, and theft are some of the other forms of insurance available. Continue reading to learn about some of the most common aspects of horse insurance.
Major Medical: Major medical is one of the two types of equine health insurance available. It’s the type you’ll need should you want help with veterinary treatments, medication, or covering the costs of surgery through illness, injury, and even accidents. The cost of life-saving treatment is often so high that euthanasia is often the only option for those without insurance.
Surgical: The second sort of horse health insurance is referred to as Surgical. Surgical insurance is not intended to cover the expenses of therapy and medicine; rather, it is intended to assist with any emergency surgeries or essential procedures as a result of an injury. Routine treatment and pre-existing conditions are not covered by either surgical insurance or major medical insurance. In order to purchase one of these plans, you will also need to purchase mortality insurance. Full Mortality: Full mortality is effectively horse life insurance, and it protects both you and your horse.
- This includes theft as well, and horses up to the age of 20 can be protected by this policy.
- Whereas complete mortality insurance would cover the majority of accidents and injuries, limited insurance will only cover certain causes such as floods, fire, and lightning, as well as anything else that is specifically included in the policy.
- Colic Surgery: Colic surgery is the greatest cause of mortality in domestic horses, and it is almost always lethal if it is performed without abdominal surgery.
- Colic surgery is a costly treatment that sometimes necessitates extensive followup.
- It is understandable that not everyone has $10,000 laying around, which is why it is preferable to have insurance in place.
- Loss-of-use insurance, like mortality insurance, can be purchased to cover particular causes of death or disfigurement.
Is Horse Insurance Worth It?
If you want to purchase a horse or if you do not have insurance for the one you already own, it is undoubtedly worthwhile to make the investment. Owning a horse entails making a financial commitment as well, because horses are prone to suffering from health problems at some point in their lifetime. If you have insurance, it implies that you are prepared for when something like this happens and that you have the financial help to go through it. If you don’t have insurance, you’re also not protected in the case of a death or if your horse is taken away from your possession.
Policies can cover a wide range of expenses more than simply medical costs for your horse, but the more coverage you have in your policy, the more expensive it will be. Make careful to examine not just what your horse need, but also how much money you have available to spend.
Common Health Issues Horse Insurance Should Cover
Horses suffer from a variety of health problems in addition to colic and sunburn, all of which may be covered by horse health insurance. Listed below are some of the most prevalent horse ailments that can be covered by horse health insurance policies.
- Arthritis in Horses – Arthritis is an issue for horses in the same way that it is for humans. Although it is more common in older horses, it can develop in horses of any age group. It is believed that inflammation is responsible for the erosion of the joints, which can cause long-term harm to the joint structures of horses. It may affect any joint in the body, although it’s most typically found in the knees and shoulders, among other places. Laminitis is a disorder that occurs often in horses throughout their lives and may be quite painful for them. It can be found in the tissues that connect the hoof wall to the pedal bone, and it is contagious. Horseshoe fungus is typically caused by improper hoof trimming and repeated damage from activities such as riding and leaping on a horse. If one of the horse’s limbs becomes injured, the horse will be forced to bear the majority of his or her weight on the other limbs, which can lead to laminitis. Cushing’s Illness – Veterinarians might have a difficult time diagnosing Cushing’s disease. It’s an issue with the pituitary gland, which is located in the brain and plays an essential part in the health and well-being of horses. As the gland grows in size, it results in an increase in hormone production, which causes symptoms such as diminished strength, recurrent infections, and delayed shedding. A common misconception is that Cushing’s illness is the same as Equine Metabolic Syndrome.
Generally speaking, you should anticipate to pay between $150 and $200 each year to cover a variety of medical bills. The cost of insurance, on the other hand, differs from one insurance company to another.
How much land do you need for a horse?
In general, 1-1 and a half to 2 acres of open maintained laned land for one horse is considered adequate space for one horse.
What is the life expectancy of a horse?
Horses have an average life expectancy of 25 to 30 years, depending on the breed. Domestic horses, on the other hand, are known to survive into their 50s and 60s in exceptional instances. Numerous variables influence a horse’s life expectancy, with diet being one of the most significant.
What are some common health issues that horses face?
It is estimated that a horse has a life expectancy of 25-30 years. Exceptionally, domestic horses have lived into their 50s and 60s in a few isolated instances. Many factors influence the longevity of a horse, and one of the most significant is diet.
What are some signs that your horse is in bad health?
The following are examples of indicators that your horse may be suffering from poor health: changes in behavior or temperament; changes in weight; changes in drinking or eating habits; changes in droppings or signs of diarrhea; and changes in foot or coat condition.