Equine Insurance Companies (Mortality and Medical)

[wildhorses]

I have some clients who have purchased horses that want to insure them until they are transported to their new home in a few weeks. I know there are tons of equine insurance companies out there that provide Major Medical and Mortality insurance, but know many have very high rates for minis. I am wondering who has the best rates and coverage for minis? Do the registries any alliances with any of these companies as sponsors or anything? The last time I checked with my large horse insurance company, minis were 10% premium of their insured value, where as the quarter horses were about 3.5%, so a huge difference. So in anyone has any companies they recommend for minis, I would appreciate that info to pass on. Many thanks.

 

[Jill]

I use Christine Phillips at Gencorp and am happy with the service and the rates. You pay a set fee per thousand of insured value / mortality with a minium premium of $200 (I think -- the amount to cover $5,000 worth, regardless of if the value is less than $5,000). If the horse is valued over $5,000, then you pay the per thousand rate (.025, I think -- it seemed very cheap to me!).

The major medical is an additional rider. Right now, I cover DunIT and Destiny for mortality / major medical and it runs under $1,000/year. I think the major medical part is $250/each and then the balance is what I'm paying for their mortality insurance.

This is the second year I have used Christine. Previously, I insured a show filly who unfortunately needed colic surgery. I actually don't recall now the company name but they paid as I expected them to, and quickly (maybe American Livestock?).

Christine Phillips

16 Main Street

East Greenwich, RI 02818

Tel: (800)232-0582 x180

Website: gencorp-ins.com

I always want to point out how the colic riders work on most policies. If you have a $2,500 horse insured and do not add major medical, all most policies pay out is a portion of the insured value towards the colic surgery -- which may or may not be enough. I've only had to have colic surgery on one horse, an 11mos old filly, and she was insured for mortality and major medical. The bill for her operation was just under $5,000 and the policy covered it. And, thank God, she's a healthy mare today!

 

[Tommy]

I hope you all don't mind my imposition here. I do not post very much at all, maybe a couple times a year, LOL!!

Anyway, I purposely bumped this up to see if there are any more inputs on this subject of insurance for Miniatures.

At our ranch, we also use Gencorp and are happy with them but appreciate any input as we have quite a few horses that are insured and are curious as to any considerations/thoughts that others are willing to pass along to the rest of us in this regard.

I am particularly interested in, but not limited to, any experience that some of you may have in regards to use of any insurance company for those unwanted times.

Thanks again for your time and consideration.

Tommy of Lost Spoke Ranch :saludando:

 

[Nathan Luszcz]

I use Great American. They are pretty much the most complete insurance avalible... no discounts for minis, but no extra fees either. They also offer surgical insurance without major medical, which works good for me. I have mortality, major medical, surgery, and liability on Charlie, and mortality, surgery, and liability (for driving horses) for Deacon. Don't ask me why they charge more for driving horses, its BS to me.

 

[CZP1]

I use Independent Equine Agents. Marla Moore is my agent. They have been wonderful to deal with and are very reasonable. I have both my horses insured by them. 1-800-346-8880

They search for the best rates available etc. Hope that helps.

Chris

 

[Jill]

Again, my policy is through Christine Phillips of Gencorp... but I think that is "just" an agency? The paper my policy is printed on is Great American.

At one point, Lisa (Ruff-N-Tuff) posted something about an insurance plan that sounded really good and pretty inexpensive to me but I don't remember the details.

You might be able to type in her nickname and insurance into the forum seach engine and come up with something worth looking into.

Nathan -- can you tell me why you'd have both surgical and major medical? It's my understanding that the major medical on my policy will cover up to the limits surgery (and that's how it was with Khaki's colic surgery). However, I want to be sure I have not overlooked something.

 

[Nathan Luszcz]

I haven't read the small print yet (bad me) but major medical and surgical are different policies (sorta). One covers things like medical colic, lamenesses, eye injuries, ulcers, etc. The other does broken bones, surgical colic, and other surgeries. So on the big horse I find those things more important to me that they be covered. For Deacon, as much as I love him, if he had a major chronic nonsurgical health problem I'd put him down rather than spend huge dollars. And if I did decide to do it anyways, it should cost less. That and he doesn't do as much... if Charlie had a proformance issue I'd work had to get it fixed. If Deacon did, he'd go from 90% pet to 100% pet

But surgical is important to me for both. Deacon can colic just as easily as the big horse, and if I can't fix it I need to be able to accept the surgical option. And its $85/yr, so why not?

That's just my personal justification for it... insurance covers what I can't afford to spend, and that's how i've decided my finances should be directed.

 

[wildhorses]

Thanks for the input.

I do know you have to be careful and read the small print. When I was breeding quarter horses, I had my whole herd insured for their replacement value, with a mortality insurance plan. I did not have major medical on any of the horses. I did have the stallion covered for loss of fetility as well. I paid this policy for 2 years, and then I learned of this stipulation.

They told me, that if I was to have a horse colic, or break a leg, or whatever, and I opted not to go through with the surgery and have the horse put down, they would not pay the mortality insurance on the horse, because I did not make every attempt to save the horses life. Now the closest vet that can do colic surgery is 5 hours away from me, and same with fixing a broken leg, so they would not take that into consideration. So what I learned after 2 years of paying premiums is that if you don't pay the major medical along with the mortality, which are 2 seperate policies and 2 seperate expenses for each horse, you are throwing your money away paying just mortality. So I canceled my policy, as it was costing me too much money to throw down the drain. Now every company may not be like this, but I'm guessing most are. Just my experience.

 

[Nathan Luszcz]

That's very true, UNLESS, and its a huge unless, the vet supervising says its in his best interest to be put down. So have a good vet that will willing to work with you and see your ability to take care of him, his quality of life, and the risk involved to make that decision. NOT TO SAY DROP ETHICS. That's not what I'm saying. But sometimes its best to put them down rather than do surgery, in your paticular case, and its important to have a vet that takes that into account. Yes, it may be possible to save him, but is it worth the pain and suffering, and what will life be like when he's recovered, IF its even a high chance he will recover?

 

[Jill]

Nathan -- okay, well, I just called Christine Phillips because it's important to me that DunIT and Destiny are COVERED for things including colic surgery. My major medical endorsement through Great American does cover surgeries, including colic, up to $7500.

ALSO, Wildhorses, mortality insurance will NOT pay off if you have a sick / injured horse and for whatever reason do not go with recommended treatment (like if it's not affordable to you, or if it's too far away, whatever). The reasoning is that the insurance company is not reasponsible for if a person can or cannot afford to have a horse treated (unless the horse is insured for Major Medical). For this reason, I just don't think I'd consider ever insuring a horse for mortality alone.

 

[Nathan Luszcz]

That's because Great American does offer Surgical alone, but Major Medical isn't just Major Medical, its Major Medical and Surgery. That combines both policies together rather than offering them seperate. I also use Great American (through Dietrich and Company, 1800 331 0211) and have MM+S on the big guy and just S on the little one.