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  1. #1
    Join Date
    Jul. 15, 2005
    Posts
    840

    Default Insurance company is going to drop me. Now what?

    After this year, my insurance company has told me that they are not going to renew my policy. They paid out for a big surgery last year and a bone scan the year before so I'm sure they feel my horse is too much of a risk to continue to insure. What happens now? Will another company take me after I disclose the information or am I just out of luck with insurance? Options?



  2. #2
    Join Date
    Apr. 14, 2001
    Location
    Fort Collins, CO
    Posts
    16,168

    Default

    Interesting. I've heard of companies excluding essentially the whole horse, but I've not heard of an insurance company declining to renew a policy. I'd call around and see what other brokers/underwriters will offer you. You might pay a lot for very lttle if you're looking for major medical coverage, but I'd think that you would at least be able to get mortality.



  3. #3
    Join Date
    Apr. 22, 2006
    Posts
    1,331

    Default

    That so totally sucks but it does seem like business as usual for the insurance industry.
    "The captive bolt is not a proper tool for slaughter of equids they regain consciousness 30 seconds after being struck fully aware they are being vivisected." Dr Friedlander DVM & frmr Chief USDA Insp



  4. #4
    Join Date
    Feb. 19, 2009
    Posts
    4,475

    Default

    I imagine your current policy is with a standard carrier. There are substandard equine insurance carriers out there too, who will likely provide *some* insurance to you (although I'm sure a lot of exclusions will be added on) but the premiums will be very high. I would call your agent (or find one if you don't have one) to discuss options and get some quotes. At that point, you can evaluate if its worth it to continue to try and get insurance, or just sock away extra money for those emergencies.



  5. #5
    Join Date
    Aug. 25, 2007
    Posts
    8,409

    Default

    Quote Originally Posted by kiwifruit View Post
    After this year, my insurance company has told me that they are not going to renew my policy. They paid out for a big surgery last year and a bone scan the year before so I'm sure they feel my horse is too much of a risk to continue to insure. What happens now? Will another company take me after I disclose the information or am I just out of luck with insurance? Options?
    If you're willing to pay the premium, you can find somebody to take the risk. I worked for an company that wrote a fire policy after the fire and made money on the deal.

    Insurance, like any other business, is there to make a profit. If you offer a risk where profit is unlikely then they'll not take it.

    Contact your agent and shop the risk.

    G.
    Mangalarga Marchador: Uma Raça, Uma Paixão



  6. #6
    Join Date
    Jun. 14, 2002
    Posts
    525

    Default

    Try Cunningham & Cunningham - they're agents for a few different companies & may be able to help. I turned to them after my last company kept jacking up the rate & adding exclusions out the wazoo.



  7. #7
    Join Date
    Jul. 15, 2005
    Posts
    840

    Default

    Thanks for suggestions! At this time I just want mortality since 3 out or the 4 legs have issues. I definitely got the better end of the deal with insurance on this horse! Don't blame them for dropping me.



  8. #8
    Join Date
    Oct. 6, 2002
    Location
    Philadelphia PA
    Posts
    15,334

    Default

    Shop around.

    I was royally pissed when my insurance underwriter, who I had used for multiple horses for many years and had probably put in $1000 total in claims and paid 10x over that in premiums dropped my horse after he had a single, treated issue in one foot from which he recovered. Called a different agent who had access to other underwriters, and got a cheaper policy. Yeah, it excluded that limb, but like you I am more concerned with the mortality and I guess overall surgical for a colic emergency.

    It pays to shop around!
    ~Veronica
    "The Son Dee Times" "Sustained" "Somerset" "Franklin Square"
    http://photobucket.com/albums/y192/vxf111/



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