I just wanted to ad that I am currently going through getting my horse insured with Broadstone. I originally was looking to go with Dietrich but after a terrible customer service experience with one of the agents, I decided to take my business somewhere else. Broadstone was super polite and responsive and the agent was great to work with - thorough and honest and gave me tons of options.
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I carried StarNet and just recently had a medical and mortality claim. While my agent was very helpful, the adjuster was amazing. He was very willing to communicate directly with the vet to determine if the procedures would be covered. The policy paid out promptly - everything was settled within 3 weeks.
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I use Laura Fetterman’s Champion Equine. The underwriter for my policies is XL. Unfortunately, I recently had a mortality claim; it was a little unusual in that I had a young horse with severe neck arthritis, but no neuro symptoms. Laura, the adjusters, and the underwriters were terrific to deal with. I feel like it is so rare to be taken care of and have a company do the right thing, which they did. It meant a lot at an extremely difficult time. I plan to stay with Champion Equine for my current and future equine policies.
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I got quotes from lots of different companies, C&C, Broadstone, etc. Jennifer Oliver found the best deal by far through Praetorian. No co-pays on diagnostics, low deductible, and lots of coverage. I highly recommend.
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I’ve been with Cunningham & Cunningham for many years. They’ve taken good care of me.
I would think twice about The Hartford. They did pay out promptly on claims for an ulcer scope, ulcer meds, a really crappy abscess and a neck/back xray for my 8yo horse 2 yrs ago. However at the end of the year, they declined to renew the policy, although I hadn’t come close to maxing out my coverage (it was $7.5k I think). As it turned out, I wasn’t too fussed, I ended up retiring the poor guy. But those costs wouldn’t have been completely unusual for a riding horse. So if I ever get another horse, I will definitely look elsewhere for insurance.
We use LEGIS Equine and they’ve been easy to work with but we haven’t needed to use them for anything… yet. knock on wood
I’ve used StarNet for 2 horses and for my own liability insurance. I’ve had medical claims with both horses and they’ve been super easy to deal with, great with information, and very prompt with payments.
As others have already mentioned, it is important to understand the type of policy you have purchased and make sure you read the fine print.
Regardless of who you go with, make sure you know your policy inside and out! Will your horse be insured for “agreed value” or “actual cash value” (fair market value)? With agreed value, if your horse is insured for $10,000 and the horse dies, the insurance will pay out $10,000 as long as there is proof of value. With actual cash value, you may be paying premiums on $10,000 for 5 years, but if your horse dies, the insurance company will only pay out what your horse is worth at the time of death (fair market value). If the economy tanks, etc., and the fair market value is only $4,000, that is unfortunately all you will get.
Most horse owners are under the impression that if they insured their horse for $20,000 and they’ve paid their premiums every year that they will get $20,000 if they die. Unfortunately, no always true! Unfortunately, I find some insurance brokers don’t always explain the type of policy you are purchasing. 
There honestly is nothing wrong with purchasing an actual cash value insurance policy. That’s what I have in place for two of my horses. That being said, I’ve been very careful to only insure them for what they are worth (haven’t inflated the value) and I have kept excellent records for each horse, including current videos, photos, show results, etc.
Regardless of the insurance company you choose, please, please, please make sure to keep good records on your insured horses - including pictures, video and show records…and remember to continue to update them! I’ve done several very tough equine appraisal cases in which the owner didn’t have a single photo or video of their insured horses that passed away, no show record, nothing…which makes it extremely tough to prove their value! And, if you feel like the insurance company is giving you the run around, and you truly believe your horse is worth more, get your own independent equine appraisal done and present it to the insurance company. I do a lot of these…and it does work!
What is the mortality value of the horse? (The mortality value is generally the purchase price + paid commission). Do you also want loss of use? When you declare a value, be prepared to prove a bona fide transaction (e.g. bank records) in the event of a claim. The head trainer at our barn has two prominent clients who each have insurance portfolio values upwards of $3 million (hunters). One uses THIS, the other uses EMO. Both have had mortality claims in the past two years - one for $650,000 and the other for $300,000. Both were paid (neurologic conditions). However, loss of use is very tricky to claim and there is a lot of fine print. In my opinion, the medical coverage is less of a factor than is the mortality and loss of use coverage for a big ticket purchase. Also, the advice to document EVERYTHING is very wise. The burden will be on you to substantiate any claims. The independent appraisal is also an excellent idea. Lastly, the insurance agent matters a whole lot less than the underwriter. The agent is a friendly face. The underwriter decides your claim. Neither is your friend when it comes to a claim.
Loss of use can be a whole other issue and can be very complicated. As a result, some insurance companies do not offer this type of insurance coverage to horse owners. The intent of loss of use coverage is to cover a portion of the value of a horse that is no longer able to perform or compete in their designated discipline. Insurance companies that offer loss of use policies will normally only pay up to a maximum of 60% of the horses insured value. It is important to understand that the loss of use must be permanent. For example, if a dressage horse suffers a suspensory ligament injury and a veterinarian has recommended the horse can start back into training after six months of stall rest and then start competing again, this horse would not qualify for a loss of use claim, as the injury has not been considered permanent or a career ending injury to the horse.
If deciding whether to purchase a loss of use policy for your horse, it is important to find out what will happen to your horse if a loss of use claim is filed. Some loss of use policies state the ownership of the horse is transferred over to the insurance company after a claim has been paid out. As a result, the insurance company then has control over the fate of the horse. Some insurance companies may offer a lower settlement and allow the owner to keep the horse. In other cases, the horse is destroyed or the insurance company resells them. In the UK, loss of use horses are freeze branded with a C on the hip. Due to the complexity of this type of policy, it is important to discuss loss of use policies in detail with your insurance broker.
I have them also- just lost my 17 yo gelding due to severe colic. We’ll see how it goes . They have been good so far with my mare who has had some issues. My gelding has been underwritten by great American since he was 6 mo old- I bred, raised, showed him so he was tough to lose. Looks like the colic surgery will be almost fully covered, but we will see what they do with the mortality part since my last show was 2015. He’s been sound and working, just personal circumstances have kept me short on $ and time to show.
You guys are so lucky. We have literally only a handful available in Canada which makes it tough. Not a lot of competition so the prices are also ridiculously high because of it. You guys are very fortunate to have so many options in the US>
Cunningham & Cunningham! Not only are they fantastic to deal with, but they sell some policies that nobody else does. Less exclusions, longer treatment times, etc. I will never insure with Hartford again, and Broadstone wasn’t worth a damn as an agent either.
Forgive me for being late to the discussion - this is a tricky topic. “Insurance” is a very broad topic. You reference your “horse of a lifetime” so I’m going to assume that this purchase represents a significant investment. Some of the conversation has related to medical benefits. Respectfully, for most top horses, the medical coverage is not a meaningful aspect of the insurance consideration. Mortality - and, more critically - the ability to collect in the event of a legitimate mortality claim is the most important consideration. In the scheme of things, being reimbursed for colic surgery (less a deductible) is unfortunately peanuts in the context of the overall value in insuring an expensive horse.
While I think that the advice that you’ve received about a personable, communicative agent is great, please remember that the agent has literally NO POWER over the claim. This is the purview of the underwriter. If the underwriter rejects your claim, then the friendly agent’s primary job is to deny your claim with a smile. The real question that people should be asking is: In the worst case scenario, what company will reliably honor a six (or even seven!) figure claim?
I can speak to clients’ experiences and say that THIS is a very reputable insurance provider with good underwriter relationships when it comes to top hunters and jumpers. If I had an expensive horse, then THIS is the first phone call that I would make. You should expect to pay between 3-4.5% of the horse’s insured value as an annual mortality premium. I would strongly advise against loss of use coverage - it is a 1-in-1,000 chance of actually getting paid on a claim (and that may be an optimistic assessment). I would be inclined to pass altogether (or minimize) the medical coverage. Again, in the scheme of things, what most people really need for “horses of a lifetime” is the opportunity to replace said horse - not offset vet care.
The last thing to consider: Are you ever going to want to sell your horse? If so, then the reporting requirements associated with medical claims might make your disclosure burdens as a seller very onerous. Also, in terms of a potential mortality claim, many medical issues that are paid as a benefit are consequently exempted from mortality-related coverage.
So, it comes down to: Why do you need insurance? If it’s to replace an expensive animal if (heaven forbid!) the worst should happen, then you want mortality coverage from a provider like THIS. If you’re worried about medical bills and cash flow, then a Hartford-type policy is probably OK. Be honest with yourself: If you’re stretching to afford a $50,000 horse and can’t afford an unforeseen medical event, then the medical coverage is probably very important. If you have $250,000+ invested in a horse of a lifetime, then the mortality coverage might be far more important.
I hated Hartford - they were horrible to deal with and they excluded everything. That said, there is a difference between the underwriter and the insurance company - For example, I have used Broadstone but my policy was through the Hartford.
Currently, I am using Dietrich Equine Insurance but my policy is with Great American. I absolutely love them. My horse coliced and had to go to the hospital this week impending surgery and they were absolutely phenomenal to deal with. I highly recommend them.
Thanks to those who recommended Jennifer Oliver. She is licensed in EVERY state and is easy and approachable and explains things in laymen’s terms. Even if you don’t use her, please at least get her to give you a quote. I can promise it’s the best rate you will receive. Excellent quality, excellent service.
Here is her page on Facebook - https://www.facebook.com/JenniferOliverEquineInsuranceSpecialist/?ref=bookmarks
I too am late to this thread but thank you for all of the information. I’ve been insuring my horse for three years through Great American and never put in a claim until this spring, but it’s been a NIGHTMARE, although I cleared the procedure first. I filed my claim in June, and they’ve come back several times (after I’ve had to call to follow up) to request just one more thing… just a little more detail… what a disaster. Three months later, no payment so far. I’m planning to buy another horse in the fall and cannot bear to think of another claim with these people. My agent is wonderful and doing as much as she can, but as someone mentioned previously, the agent has NO CONTROL over the claim. Thousands of dollars later, no coverage from Great American, I feel totally ripped off.
Any update from Great American, Serenedipity?
I agree with the post regarding choosing a good agent. They use multiple insurance carriers and will help choose the best one for you. I have used EMO out of Warrenton, Va for years. One year I switched for a bit of a lower premium on an expensive horse, and was very unhappy with the agent ( billing errors, no communication, etc). Switched back to EMO and no problems. Won’t make that mistake again!
