[mkunk1]

I'm looking into getting insurance on a horse I'm leasing (free lease, offsite).

What are your opinions/reviews on all the different insurance company. I'll definitely be going with the major medical/surgery in addition to the mortality.

Thanks!

[Simkie]

Tons of discussion about this, especially with the recent Great American policy change.

Here's a good enough place to start:

http://www.chronofhorse.com/forum/sh...than-15k-horse

[BaysofourLives]

Stay AWAY from Great American. TERRIBLE experiences w/ them

[DancingFoalFarms]

I've used Markel and Blue Bridle, and had good experiences with both.

[ActNatural]

im having good experiences with Broadstone at the moment. In the middle of a claim. Very helpful!

[Simkie]

I've used Markel and Blue Bridle, and had good experiences with both.

I don't know about Markel, but Blue Bridle is just an agent. They don't actually carry the policy, they only sell it to you, and you won't work with them in a claim. Blue Bridle sell policies from a variety of underwriters.

They are quite nice to work with, and my policies have always been purchased through them (Great American, now moving to AEIG/Diamond State most likely) but saying they're a good insurance provider is a bit like recommending a grocery store when someone is asking for a good brand of bread.

Broadstone is also an agency. I think they offer The Hartford (and maybe Chartis?)

[Diamondindykin]

Hallmark Equine Insurance

[Simkie]

Hallmark Equine Insurance

Another agent, who offers The Hartford and Chartis. Which company is your policy with?

[sorrelfilly721]

I use Broadstone (Hartford agent). They have a pretty wide variety of major medical policies as well as mortality for reasonable prices.

[DancingFoalFarms]

I don't know about Markel, but Blue Bridle is just an agent. They don't actually carry the policy, they only sell it to you, and you won't work with them in a claim. Blue Bridle sell policies from a variety of underwriters.

They are quite nice to work with, and my policies have always been purchased through them (Great American, now moving to AEIG/Diamond State most likely) but saying they're a good insurance provider is a bit like recommending a grocery store when someone is asking for a good brand of bread.

Broadstone is also an agency. I think they offer The Hartford (and maybe Chartis?)

Thanks so much for clarifying! I used Blue Bridle in early 1980s when they first opened shop, and Lloyds underwrote the policies. However, Blue Bridle -- not Lloyds -- worked with me in 1989 when I needed to make a large mm claim. Although, I'm certain things have probably changed in the past 20+ years. Regardless, in that case both the loaf and the store were excellent.

[drawstraws]

Hallmark only uses American Equine Insurance Group.

[twhs]

Very bad experience with Hallmark

[Simkie]

Hallmark only uses American Equine Insurance Group.

I swear I had a quote from them last fall that was The Hardford, but now I can't find that email. Must have been confused--thanks for the correction.

Very bad experience with Hallmark

With AEIG/Diamond State? Could you talk about this further? Feel free to PM if you don't want to share with the class

[SaratogaTB]

Had only good experiences with Hallmark

[Regardless]

My horses are insured with Hallmark.. I only recently really sat down and read my policy. I need to call the company for clarification, but I believe my horses aren't covered if they die from a communicable disease, and I would not be eligible for reimbursement should I use my horses in any other discipline than what's noted on the policy within the year. I know this is ignorance on my part but really read your policy.

Hallmark has been good to me in the past with partial reimbursements after selling a couple horses but I really need to clarify my policy.

[backinthesaddle50]

I have used Horse Insurance Specialists in Pilot Point, TX as my agent for the past 7 years. Thank goodness, I have not had to make a mortality claim but they were wonderful with the major medical claims I submitted for a former horse. Currently, they have brokered my policies through Diamond State. Hope this helps.

[Daventry]

An insurance company is only as good as how they deal with a claim. Regardless of which insurance company you choose, make sure you know your policy inside and out! Is your horse insured for "agreed value" or "actual cash value" (fair market value)?


With agreed value, if your horse is insured for $10,000 and your horse dies, the insurance company will pay out $10,000, as long as there is proof of value. With actual cash value, you may be paying premiums on a $10,000 valuation for 5 years, but if your horse dies, the insurance company will only pay out what your horse is worth at the time of death, which is also known as fair market value. If the economy crashes, your horse was laid up with an injury at the time of death, etc., and the fair market value is only $4,000, that is unfortunately all you will get.

Most horse owners are under the impression that if they insured their horse for $10,000 and they have paid their premiums every year that they will get $10,000 if their horse dies. Unfortunately, no always true!

As well as knowing your policy inside and out, make sure to keep good records on your insured horses - including pictures, video and show records....and remember to continue to update them! We have done several very tough equine appraisal cases in which the owner did not have a single photo or video of their insured horse(s) that passed away, no show record, nothing....which makes it extremely tough to prove their value! And, if you feel the insurance company is giving you the run around, and you truly believe your horse is worth more, get your own independent Equine Appraisal done and present it to the insurance company. We do a lot of these...and it does work!

I've got other tips and tricks on our website at www.equineappraisers.com

[gottagrey]

Why are you insuring a horse you are leasing? Do you have an agreement with the owner about paying vet bills. Typically in the case of a mortality claim the owner, not the lessee receives the payment. If you are taking out insurance to cover vet bills - you should have that in writing from the owner about who pays for what when. Even if you have insurance you still have to have the funds to pay upfront costs for treatment? So if, for example, your free leased horse colics and you opt for surgery... will you have the $5000 - $10,000 cash to pay for the surgery and treatment until the insurance company reimburses you? These are questions you should address w/ the owner first... as mentioned typically owners will ask for lessees to pay for insurance but the owners, not the lessees, will be the beneficiary of any insurance benefits. Clarify that first, if you haven't already. As far as insurance goes, Ive had Markel and Hallmark. I never had a claim during my Markel days but did have 2, yes 2, colic surgeries back to back and Hallmark was great. I might not be saying that when my policy is up for renewal... I also found that Hallmark seemed to provide more coverage for less premium but after reading some of the other posts, I guess I should re=read policy.. or research again come renewal time.