What's the Buzz?

All horse owners out there love to hear horse news from around the world. It doesn't matter if it's your neighbor's pony or the greatest of racehorses, if it has four hooves it's worth discussing. For those that have been a part of the equine community for awhile, you might also have realized that everyone associated with horses is bound to have their own opinion. They might be right and they might be wrong, but they'll express their views anyway.

This doesn't always have to be a bad thing. Sometimes it can spout wonderful sources of information such as the Equestrian Network Magazine. While this online magazine has its own editors, they also welcome articles submitted by their readers. They feature an artist of the month, highlighting those people who have made their living portraying horses and the people that surround them. You'll find cowboy poetry and ideas for horsey halloween costumes right alongside more serious articles that discuss riding smooth transitions and challenging state agencies to preserve trail riding land. There are several back issues to peruse at your leisure and often the magazine will highlight a horse in the spotlight.

You might ask what this has to do with equine insurance. Honestly, not much. We just ran across the nice site and thought it might be something our clients would enjoy. Now that we've covered the fun stuff, on to the serious part of this post!

We've already discussed the basics of insuring your horse. We discussed full mortality, major medical with surgical, and surgical only coverage. We discussed how to find an agent, and what value you should place on your horse. Believe it or not, there is more.

My horse is too old to be covered by full mortality. What do I do now?
There is another option for the horses that might not be eligible for full mortality. While not as comprehensive as the full mortality coverage, you could speak with your agent about Specified Perils coverage. The rate for specified perils coverage is generally lower than the rate for full mortality coverage. It will only cover your horse for theft or "Acts of God" (lightning, flood, etc.). While not as comprehensive as the full mortality, it is still an option for people with older horses that still want some coverage on them.

I have a younger horse that has full mortality and major medical coverage. Will these cover my horse if I can no longer use it for its intended purpose?
There is something called Loss of Use coverage available. While this may be helpful in some cases, it is not always commonly used. There are two types of loss of use coverage. The first is Full Loss of Use. This will provide between 50-75% of the horse's insured value should the horse become unable to perform in the area for which it was purchased. Most companies will only insure the horse for full loss of use coverage between the ages of 2 and 12. The company may take control of the horse if they pay up to 75% of the horse's value. If you wish to maintain custody of the horse then the company will pay up to 50% of the horse's value. The horse will not be able to be insured for its original listed use or be used for its original listed use again. Please note that this coverage may cost just as much if not more than full mortality coverage.

The other option is External Injury Only Loss of Use. This will cover horses between the ages of 2 and 17. It will pay up to 50% of the horse's value in the case of a visible external injury that has caused the loss of the horse for its particular use. It will be slightly cheaper than the full loss of use coverage. Please note that the insurance company may only provide loss of use for certain breeds of horses or for certain activities. Most often there is a specific vet exam that must be completed, along with x-rays and a drug test. Some companies may require a horse to carry a value of $25,000 or more before they will provide loss of use coverage.


That's the weekly buzz from Equisport. We will leave you with these words of wisdom from Pat Parelli. "A horse doesn't care how much you know until he knows how much you care."