Many people with multiple head in their barn look at horse insurance and say, “Well, that would be nice - but it doesn’t make sense for me. By the time I insure all my horses I will have spent so much money, I could go buy a new horse if one dies!”
That's true, if you look at the standard horse insurance policy. But did you know there are options?
Option 1: Stable Discounts
This option is exactly what it sounds like! If you have 10 or more horses and qualify, there are discounted base rates on the mortality policy for those horses.
Option 2: Deductible Policies
Most people understand deductibles for their home or auto coverage, but for you horses? Absolutely! Just like your home or auto, the higher you make your deductible the lower the premium you pay. A standard mortality policy does not have a deductible.
Let’s say you purchase a deductible policy with a 2% deductible on your schedule of horses valued at $500,000. That equates to a $10,000 deductible. If you have a horse die with a value of $25,000 you would be paid out $15,000. If you have a second horse die valued at $30,000 you would be paid the full amount as you have already met your deductible for the year.
A deductible policy allows you to significantly buy down the base rate you pay so your up front cost is much lower. It enables you to cover all your horses at a more cost effective up front cost and shift some of the cost to the claims portion. Each individual schedule of horses can be evaluated on their own basis and multiple deductible options can be quoted to help reach the price point and risk point that meets your needs.
Contact us to find out more about large schedule coverage and how we can reduce your risk, meet your needs, and write coverage that also makes sense for your budget.
Contact Us to Find Out More
Give us a call, email, or fill out our horse insurance quote form to find out more about large schedule coverage and how we can reduce your risk, meet your needs, and write coverage that makes sense for your budget.