What you need to know if you are considering equine mortality insurance

There is a special bond between your horse and you.

What would you do if your riding horse seriously injured herself, became ill, and had to be euthanized?

The emotional devastation that comes from losing your friend, also often leaves you with a stack of vet bills, that only adds salt to that open wound.

Equine insurance policies can help cover the cost of a vet, as well as help with the replacement of your horse in the event of a sudden accident or life-ending illness.

Many of us, when we acquire an expensive horse, generally want to protect that investment.

How do we decide on the value of my horse?

Valuing your horse for purposes of insurance can be a tough question. Value can be expressed in several ways.If you just purchased the horse, the purchase price is the value.Sometimes, in today's market, you can buy a good horse for a great deal.Even if you think your horse is worth more, it doesn’t matter, because the value of the horse is the amount you wrote the check to purchase that horse.We all know that your hard work of training, showing, etc., adds to the value of your horse. So if it is a horse you have raised or bought several years ago, there are ways to document the increased value of your horse, we basically need to convince the underwriter why the horse is worth the value you claim.

Let’s take a hypothetical example: You bought a horse for $3000.Put a year of training into it, winning at open shows, placing at breed shows, then you might be able to establish a higher value for your horse. You need to save your training bills, as well as show records, having a paper trail when establishing a value is in question, is of utmost importance.

Age is important

Mortality insurance is designed to protect you from loss due to the premature death of your horse. Just like us, as horses age, the likelihood that they will die increases. Insurance companies each have their own upper limit for full mortality coverage. Some companies will provide some limited perils coverage for over age horses that only can protect them from loss from certain named perils such as, acts of God, transportation, accidents, or theft.If you have questions, please email Toni, our farm insurance expert at toni@janjinsurance.com or contact her at 208-762-2122.

Who Decides about Euthanasia

Vets abide by the American Association of Equine Practitioners guidelines for the recommendations of euthanasia of an injured or diseased horse. The question becomes “Is there hope for recovery, and at what cost?” Otherwise, for most other claims the insurance companies will want you to do what you can to prevent death.

The Bottom Line

If you have a horse that if it passed away, would cause you emotional and financial pain, you might want to consider equine mortality insurance. If you have any questions about this or any other farm-related insurance matter, please contact us at toni@janjinsurance.com or 208-762-2122.