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  1. #1
    Join Date
    Oct. 25, 2005
    Posts
    1,746

    Default tell me about "loss of use" insurance and the show horse

    Especially in the gelding. Also if a show horse becomes unable to show but they are a mare or stallion and can be used for repro, will you still get your money back since they are unable to show? I'm just not sure how "loss of use" works. Thanks.



  2. #2
    Join Date
    Mar. 8, 2004
    Location
    Baltimore, MD
    Posts
    21,301

    Default

    Loss of use is generally a bad deal. Its expensive for starters, hard to prove and in the end if you do successfully get your claim paid you have to give them your horse. They can then do what they like with him.



  3. #3
    Join Date
    Oct. 25, 2005
    Posts
    1,746

    Default holy cow

    GIVE THEM THE HORSE??? What will they do with a lame horse............I can only imagine! OK, not for me.



  4. #4
    Join Date
    Jan. 31, 2003
    Posts
    18,472

    Default

    Also.. they have a say in if the horse is euthanized or not. There was a horse here that was insured for loss of use, for a price somewhere around what you would pay for a nice luxury SUV.. he became laminitic, foundered badly and the attending vet wanted to euthanize him. The insurance company called in another vet who stated that it was possible that the horse could someday perhaps do dressage again...

    and so the horse lay there in the stall, suffering, for quite some time while they all fought it out. It was ugly and awful. I do believe they euthanized him against the second vets recommendation and of course did not get payment on that loss of use claim but just could not see him suffering any longer.
    "Kindness is free" ~ Eurofoal
    ---
    The CoTH CYA - please consult w/your veterinarian under any and all circumstances.



  5. #5
    Join Date
    May. 10, 2003
    Location
    central CA
    Posts
    1,503

    Default

    A friend of mine bought a very nice mare almost 10 years ago that had been turned in on a loss of use policy. She was owned by a BNT in Holland, getting ready to start the GP when she developed a mystery lameness. They had a 75K LOU on her and only did the minimum required by the ins co on diagnostics. The mare ended up in a pasture at a breeding farm in CA. 3 years after the mare arrived she looked sound and the farm owner needed some quick cash, so my friend got her for 10K. Solid PSG, 12 yo, bred to the teeth dutch mare for 10!!!!!! The mare has been sound since she bought her.
    Don't toy with the dragon, for you are crunchy and good with ketchup!



  6. #6
    Join Date
    Jun. 12, 2007
    Location
    CT
    Posts
    6,591

    Default

    Some loss of use policies offer you 50% of the value plus you keep the horse, or 100% of the value and they get the horse.



  7. #7
    Join Date
    Jul. 22, 2009
    Posts
    12

    Default

    It is very difficult to prove loss of use (most vets won't make that statement). You have to read the policy very carefully and interpret it word for word, within your policy year (hint). If a vet can say that the horse cannot be used for it's intended purpose as of the policy end date, then it is a valid LOU claim. And yes, they will threaten to take your horse if they pay on the claim. Tell them ok, take the horse....and then they will come back to you and pay the 50% (without taking the horse) per the policy.



  8. #8
    Join Date
    Mar. 20, 2007
    Posts
    535

    Default

    on our insurance you can only get loss of use with 50K or more policy.. and even then the premiums suck.



  9. #9
    Join Date
    Sep. 6, 2003
    Location
    WA, Land of the damp Thongpend
    Posts
    2,451

    Default

    Quote Originally Posted by EqTrainer View Post
    Also.. they have a say in if the horse is euthanized or not. There was a horse here that was insured for loss of use, for a price somewhere around what you would pay for a nice luxury SUV.. he became laminitic, foundered badly and the attending vet wanted to euthanize him. The insurance company called in another vet who stated that it was possible that the horse could someday perhaps do dressage again...

    and so the horse lay there in the stall, suffering, for quite some time while they all fought it out. It was ugly and awful. I do believe they euthanized him against the second vets recommendation and of course did not get payment on that loss of use claim but just could not see him suffering any longer.
    The insurance company can do this on just a mortality policy as well, if they have to be euthanized for something like founder.



  10. #10
    Join Date
    Nov. 5, 2002
    Location
    Hometown: San Antonio, TX ; Current Location: Amarillo, TX
    Posts
    1,605

    Default

    If they are breeding sound most insurance companies will not approve the claim. My mare was running around Advanced aiming for Rolex CCI**** and pulled up lame with a bone chip in her coffin joint that many vets said would never put her back at 100% for flat work and almost 0% chance for ever jumping again. We had a $150K Loss of Use policy on her. The insurance company laughed and told us she had to have a reproductive exam to examine soundness. Of course she was breeding sound so they told me I was SOL and have fun with the baby
    Be very cautious with LOS on mares.
    RIP Kid Gloves (Holly) 1992 TBxHanv CCI*** mare.
    http://photobucket.com/tx3dayeventer/holly
    New mare: Miss Bunny Express (Missy) 1995 AQHA Jumper mare.
    http://photobucket.com/tx3dayeventer/missy



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