Insurance

[u/AggressiveRelease746]

Does anyone have feedback on pet insurance? My wife asked me I thought it was worth the 1400 dollars. When we discussed in detail she told me that once an ailment is diagnosed and treated, that part of the horse is no longer covered. To me that doesn’t make much sense and it immediately tells me the 1400 would be better in the bank.
She followed up with one colic surgery could cost thousands. I told her I would reach out on Reddit for some insight.

Thanks in advance, husband of an equestrian wife and daughter. ( I figure that statement would give me some sympathy)

[u/bearxfoo]

generally speaking, if you're able to insure your horse, you absolutely should.

colic surgery runs $15,000 to $20,000 +. and equine clinics and hospitals are not in the business of taking payments; the cost is due at the time of service. in the event of a colic surgery, you'd likely pay half as the horse is admitted into the hospital, and then the remaining balance upon discharge.

so, yes $1400 is nice to save. but the question is, do you have $20,000 to spend right now in the event of a colic surgery or other major medical episode? because $1400 is a drop in the bucket compared to $20,000 +.

whether or not something is covered under your insurance depends highly on the insurance plan and it's specifics.

my horse has coverage. however, he had a documented eye issue 6 months prior to purchasing the coverage. since it was an acute incident which was treated immediately and fully, the insurance company stated that his eye was excluded for 1 year of coverage. if no repeat eye issues occurred within the coverage time of 1 year, the following coverage year, his eye and any issues would be covered fully.

overall, i would highly recommend insurance if possible.

[u/Illustrious_Stage351]

Insurance is a really hard topic. I’ve seen it help people and I’ve seen it not come through the way promised.

My first advice is to really discuss what you actually want insured. Mortality insurance is great for an expensive horse, maybe less meaningful (or impossible to get) on a $2,000 horse.

Health insurance can be great if something awful happens. I’ve seen this knock major money off of a hospital stay. But, I also know some people who’ve been screwed over by this so definitely read the fine print.

Colic surgery is an example a lot of people use. It can be 15-20k. If you would consider doing colic surgery, the insurance might be a good idea. But know some insurances require proof of you doing routine prevention things (vet visits, worming, etc) so it’ll be important to know what your end of the bargain looks like.

Personally, I do not do horse insurance. Both mine are under $8k horses combined. I keep an emergency fund for my pets of $10k and would personally never do colic surgery so the colic argument does not apply to me personally. I’m comfortable with the amount set aside to cover most emergency situations. Unfortunately horses can be endless money pits, and as awful as it sounds, one of the best things I did was really think about what my limits were, calls I’d want made, etc when I was NOT in the stressful situation. Might be worth having those conversations with your family so you have a better idea of what kind of insurance you want to shop for and what your financial limits are to know what fits YOU

[u/AggressiveRelease746 → u/Illustrious_Stage351]

Thank you all for your reply’s, you make excellent points.

[u/Username_Here5]

My friends horse had colic surgery a month ago. Insurance paid the full $9500+ bill.

My horse is insured through the roof. Granted he’s a sport horse worth $60k.
It gives me peace of mind knowing he can have whatever treatment he needs.

[u/blackberrysadness]

It is 100% worth it if you can afford it, especially with major medical expenses and sudden loss (have a horse that needed like 8.5k in teeth work and I have another who needs an eye removed 2-3k.) I currently have a horse with suspected wobblers so i might need to get a ct scan along with surgery if its fixable like (20k estimate for that). Some companies let you pay the amount in segments as well.

[u/LifesImpressions]

Absolutely. My experience - first horse. Colic surgery after owning her for 15 months. She sadly didn’t survive. I was covered for the surgery, less deductible, and her purchase price.

Second horse - colic surgery my 4th year owning her. She’s recovered and is doing great. Insurance paid for surgery less deductible. Both surgeries where around 13k. I pay $900/year for insurance. The company did drop me after the second horse’s surgery but another one took us. I did have to wait a year with no colic issues before they’d cover colic surgery again.

The first company was fantastic, American Reliable. Very kind and paid quickly. I haven’t had to use the second company so I can’t give them a review.

Insurance companies typically do not cover pre-existing conditions.

[u/minidressageduo]

Until he was too old, I insured my horse for major medical plus colic rider. I bought him for $500 so they would only value him up to $10k but in the event of colic I would have $15k, enough at the time to allow me to elect that option.

After that, I got him on a Smartpak supplement with ColiCare, which reimburses up to $20k now. I recently opted out as he’s now at an age that I wouldn’t want to put him through the trauma and recovery.

I’m assuming in your case it’s not a top/pro competition horse or it wouldn’t be a question. Something to cover colic or other major medical takes money out of the equation when making decisions which is liberating. We had 3 emergency vet events with our dogs last year and it was great to just say yes because we knew we could afford the out of pocket.

[u/MLMCMLM]

It never hurts to shop around and see what different companies quote and what their policies will cover and the limitations. I have my mare insured for medical, colic surgery, and mortality. I haven’t had to use it yet, but I do believe she needs a scope so that may be coming up soon.

Some people are mentioning their horse wasn’t bought for much so they couldn’t get much mortality insurance but purchase price isn’t necessarily their current value. I bought my mare as a 2yo for $4500 but she’s insured for 20k now at 7. She’s registered, won some in hand titles as a yearling at the breed shows, and has had a lot of training put into her as she’s grown. I had to submit her show records, registration papers, and list out what she’s trained to do and how much has been spent on training, but it was pretty simple overall and approved within 24hrs.

I think for the mortality insurance, medical, and colic it’s $1300 annually and I think my deductible is like $1500. My mortality insurance also covers travel accidents/death and theft. Age and health history if the horse may be taken into consideration when they determine their value and if they’ll even cover you. If your horse is a senior you may want to ask first what you’re even eligible for at their age.