After all the issues I've had over the year, I've decided to insure my horses. Previously I hadn't because they weren't worth that much $$$, but I am realizing they're priceless to me... and so is their vet work! LOL.
What companies are best for this? Not neccesarily cheapest, but the best to deal with with the best coverage. I'd be looking for Major Medical and Mortality, and potentially Liability as well. From what I've heard, I don't think I am interested in Loss Of Use.
I have American Livestock. I intended to renew with Great American, but did not because of their new 30% co-pay on diagnostics.
I use an agent (Cunningham and Cunningham), who in turn contracts with several different companies- so she went over the different options available from a few companies before we picked American Livestock.
I have GA and on all but 1, I got ride of the MM and just kept the surgical option. I've never had a claim, and now with the 30% thing, I really think I'm better off putting that money in the bank in case something happens. I think the main reason I'd need it is for something catastrophic that would require surgery. Dropping the premium from $375/yr (per horse) for full MM to $150/yr for the surgical.
. Dropping the premium from $375/yr (per horse) for full MM to $150/yr for the surgical.
Only $375 for MM and Surgical?! That's a lot less than I was expecting/seem to have it in my head what horse insurance costs! I pay about $300 a year for a dog and $180 for a rabbit (both of which have paid themselves off, fortunately/unfortunately) so I was thinking a horse would be upwards of $500+.....but that seems really reasonable, considering how much a simple lameness workup can cost!
I use Hallmark, and have for years. Love them! Very fair in what they pay for, excellent agents when you have a claim, pay in a timely manner. I have had 2 major medical claims, and a mortality claim with them over the years and they have always been fantastic. I pay just over $500 a year but my horse is insured for $12K and I event at a higher level so the rate is higher. I also have the higher major medical limit.
There is no "best" insurance carrier. I think that every one of them has the wherewithal to pay claims, so it's really a matter of preference in policy language and service.
A number of the recommendations listed her are NOT insurance carriers, but rather insurance brokers. I'd recommend going with a broker if you are new to insurance. The broker can help you determine what features matter to you and shop several carriers for you.