Equine Insurance--B.S. or for real??

[scrbear11]

My broker posted above.

I maxed out Little Mare’s major medical this year. I paid $480 in premiums and had a $500 deductible. I was reimbursed $7500 total. Farm calls were not covered, her fetlock injections were not covered. But her insurance covered everything from exams, to Osphos, to an MRI and about six ultrasounds.

Her insurance was just renewed, but I imagine she will be dropped next year.

The ASPCA offers a major medical/colic surgery coverage that is about $25 a month for $10,000 maximum coverage. You will want to read the fine print here…

[vxf111]

@scrbear11

The ASPCA offers a major medical/colic surgery coverage that is about $25 a month for $10,000 maximum coverage. You will want to read the fine print here…

Does anyone have any experience with this? I had started my horse on one of SP’s supplements just for the Colicare… but the supplement is ~$30/month and per the calculator, so would $10,000 of coverage with a 90% reimbursement and a $100 deductible. Given that I don’t particularly want the supplement and that the coverage is not only colic but also medical… seems like a slightly better deal to go with this coverage. So curious if anyone has any experiences?

[scrbear11]

Here’s ASCPA Pet Insurance link https://www.aspcapetinsurance.com/horse-insurance/

Colic + Accidents - $10,000 Limit, 90% reimbursement, $100 deductible = $25.13 per month
Colic + Accidents + Illness (cushings, strangles, cancer) - $10,000 limit, 90% reimbursement, $100 deductible = $57.03 per month

[Suspiria]

I’m another vote for Jennifer Oliver (broker posted above) at Central VA insurance. She has been my broker on my horses for a few years now and I have been very happy! She knows equine insurance and compares all the companies and policies so I don’t have to. That’s the value a broker provides.

As far as the larger “is insurance worth it?” question–i would rather have it and not need it than need it and not have it.

[vxf111]

Tangent but @Suspiria … did you like the remake?

[Suspiria]

LOL @vxf111 Congratulations on being literally the second person I have ever talked to who understands the reference. high fives you

I actually haven’t seen it. Personally, I tend to be leery of remakes/reboots in general. For every Battlestar Galactica there are about 50 lame Star Treks or Halloweens or Twilight Zones that just don’t catch lightning in a bottle, much less even come close to surpassing the original.

< close tangent >

[vxf111]

@Suspiria

LOL @vxf111 Congratulations on being literally the second person I have ever talked to who understands the reference. high fives you

I actually haven’t seen it. Personally, I tend to be leery of remakes/reboots in general. For every Battlestar Galactica there are about 50 lame Star Treks or Halloweens or Twilight Zones that just don’t catch lightning in a bottle, much less even come close to surpassing the original.

< close tangent >

It’s totally different than the original but also sort of stylish and creepy and weird. I didn’t like it better but I don’t think it took a big steaming dump on the original (ahem, Jurassic Park sequels, I’m looking at you). It’s suuuuuuuuuuuper Tilda-Swinton-indulgent but I don’t hate that necessarily. She’s earned a little goodwill in my world.

[IPEsq]

@horsegurl

Your thoughts on insuring your horse? I just rec’d $128 reimbursement on a $1300 claim for diagnostics. Insurance pays way less than they cover and after my $500 deductible, AND A COPAY THEY CHARGED ME…welllllll…

In another instance, I had a $2600 claim, got $1300 reimbursed. Ok, that was good, but…

I’ve had this horse only 1 year, so haven’t paid much into the company ($800), but thinking about not making the last payment, and not renewing. Mortality is “only” 15K in coverage, and seems more productive to start a savings account on the horses medical behalf. Lol, would I pay into it monthly?..lol…well that might be my problem!! BUT, it seems like these insurance companies want you to believe they are there to cover you, but they are only there to make a profit.

TIA

You may also want to read your policy before you skip out on your last payment for your current policy.

Find a broker to help you shop around before this policy expires. There are 0 copay options out there. Hard to say how your premium would compare to what it is now. Most of the premium is in the mortality coverage, usually a % of the value, and this changes with age. MM is typically a smaller premium add on but can vary with amount of coverage (7500, 10000, etc), amount of deductible, etc.

[iberianfan]

I have to chime in with the “yes” crowd. The mare I had last year had to have SI injections, Osphos, a body scan, then an MRI a few months later. She is now retired to broodmare status (but may come back, who knows) and the insurance was a saving thing for me. $500 deductible per event, plus 20% copay, out of my pocket and the insurance more than paid for itself.
My current horse, knock wood, has not had any claims. His MM is inexpensive, but mortality is high. I may drop his value in future years as he is getting older…But I’m still glad I have the insurance.

[paintedpony]

I did the math over a 10 year period. In my case, potentially recoverable $ was only a small fraction of the premiums that I would have paid. Perhaps I have been blessed with unusually healthy stock? I will not purchase insurance for my current horses. That said, there are some horses I would insure, I do not currently own one.