Equine FAQ
- Why insure my horse?
- What is the cost of horse insurance?
- How much horse insurance do I need?
- When I'm transporting my horse, is it covered?
- How do I renew my policy?
- How do I make a claim?
1. Why insure my horse?
Insuring your horse protects you against costly, unexpected incidents or medical emergencies. If you're a new horse owner, you may want to carry the standard Mortality and the optional Major Medical & Surgical coverage until you know more about the horse's health.
2. What is the cost of horse insurance?
Premiums vary depending on the horse's breed and age, its value, and intended use. Mortality coverage, similar to life insurance covers the value of the horse. You may opt for extended surgery and medical coverage, as well as loss of use or infertility insurance.
When compared to the overall costs of owning and maintaining your horse, insurance costs are minimal. Contact us for a quote.
3. How much horse insurance do I need?
You can insure your horse for any amount up to its fair market value (the price you would receive if you were to sell it today). The price you paid for a recently purchased horse is considered the fair market value. For home bred foals, the base value is approximately three times the stud fee.
If your horse has been placing in competitions, its value may well have increased. To confirm the value, simply submit competition or breeding records. We also recommend you include an evaluation by a professional equestrian.
4. When I'm transporting my horse, is it covered?
Most mortality insurance, unless your policy states otherwise, covers your horse while in transit in the US or Canada.
5. How do I renew my policy?
Review and complete renewal paperwork, which you will receive 30 to 60 days before the policy expiration date. Call us with questions or changes to your coverage. Be sure to include any address, telephone or email changes so that we may contact if necessary.
You will also need to provide current show records, breeding records and training fees to justify the insured value of your horse. It is very important that you report any health problems that have occurred, including the date of incident, the diagnosis, treatment and current status of the horse.
6. How do I make a claim?
Emergency contact numbers are always provided with your policy. When you call the insurance company, they will assign an adjuster who will advise you on how to proceed.
If you need immediate help during business hours, call our Equine Specialist, Matt Backe at 847-289-7538. To report a claim after hours, call our emergency claims line, 866-581-9270.