I just bought a new horse, and due to his price am strongly considering insuring him. I have never looked into this before and I can’t find much information and none of my horse friends have their horses insured. Please let me know your experience with insurance and any recommendations. I am looking at mortality and possible major medical depending on the cost. I am in Maryland, if it matters.
I just insured a new horse yesterday. The cost was 3.7% of the insured value (for mortality) plus $575 for $10k in major medical or $775 for $15k in major medical. I never get mortality for the full value of the horse because it gets quite pricey and my experience is that I’m more likely to need the major medical portion than the mortality portion. But that’s a judgment call - someone else’s calculus may differ from mine.
Lots of old threads on this if you want to do a search. But in general, I recommend going through a broker who can help you understand different options/policies. I have had very good luck with Central VA Equine insurance - Jennifer Oliver. She posts here, I think, but she’s been terrific to work with.
Expect to pay around 3% of insured value for mortality, and maybe another 1.5-ish% for major medical. Make sure you understand whether you have an agreed value policy or market value (https://horsesport.com/magazine/miscellaneous/understanding-your-equine-insurance-policy/)
For just general information I found this article that answers most basic questions:
But keep in mind it’s going to vary from policy-to-policy.
