In order to get adequate equine insurance, you must first answer an important question: How valuable is your horse? The best insurance policies are based on an "agreed value", which means that you and the insurance company agree on how much your horse is worth, and that is the amount that will be paid out in the unfortunate event of death. Some insurance companies, on the other hand, will only write policies on "fair market value", which means that your horse's worth will be evaluated at the time of his death, and that is the amount you will receive.
Placing a value on a horse can be difficult. If you have recently purchased a horse, or if the horse has gone through a professional sale, the selling price is generally an accurate evidence of value, and an indication of where the market is headed. You may also add in the cost of a Professional Transport. With more and more horses coming from Western Europe, the transit fee’s can be quite expensive averaging between $5000 - $8000. And if shipping within the Unites States the fee’s can be upwards of $2000.
If your horse wasn't purchased through a recent sale, many factors go into determining the value. We start off with the purchase price, however higher values can be afforded with receipt of showing, training and or breeding records under your ownership.
We start with a base value of two-to three-times the stud fee for newborns after 24-hours of age, and go from there. Again, there are a lot of variables, so it's important to have an agent familiar with the breed and the discipline.
The bottom line is that there are many determining factors on a horse’s value. Speaking with your Insurance Agent can help determine what value is best for your horse. If you have owned your horse for more than 2 years or you would like to adjust the value of your horse over the purchase price, then please download and complete the following form.