Need Equine mortality Insurance opinions asap

wgc517

Normally I would not consider insurance but my best mare is going to KY to be bred and I am thinking I should insure her (I can't afford to lose her) in case anything happens. She is a 16yo. and will have a foal by her side. I know she is old but she has a few stakes horses and one of them is a multiple graded G2 placed horse still racing. (no I don't own any of them)

I don't even know what she is worth. How can I value a mare that old? Am I thinking correctly or being over cautious? Can really use some guidance.

LB · Posted: Mon Apr 16, 2012 8:41 am Post subject:

I'm not sure you will be able to get mortality insurance on a 16 yo mare (I believe the age cut-off is 15.) If you can find it, the cost will be prohibitive.

wgc517 · Posted: Mon Apr 16, 2012 9:05 am Post subject:

Thanks LB, if that is correct then I don't have to make a decision. Can anyone verify whether or not you can insure a 16 yo mare? thanks

docjocoy · Posted: Mon Apr 16, 2012 9:16 am Post subject:

LB · Posted: Mon Apr 16, 2012 10:30 am Post subject:

docjocoy, do you mind if I ask which insurance company you used for the older mare?

LB · Posted: Mon Apr 16, 2012 10:43 am Post subject:

Just to explain further...when I talked about a prohibitive cost, it wasn't the premium per se but the way the policy was structured for an older mare. This may not apply for all insurance companies but we've had 20-25 horses insured over the last fifteen years and all the policies we were offered for older mares worked like this:

(Copied directly from a contract)
In the event of the horse being more than fifteen years of age at the time of death, our limit of liability shown on the schedule will automatically be reduced as follows:
25% if a horse is 16
33% if a horse is 17
40% if a horse is 18
50% if a horse is 19

So, wgc, with regard to your mare, you will pay a 100% premium for a potential 75% pay out should something go wrong.

docjocoy · Posted: Mon Apr 16, 2012 11:04 am Post subject:

docjocoy · Posted: Mon Apr 16, 2012 11:07 am Post subject:

LB · Posted: Mon Apr 16, 2012 11:17 am Post subject:

Thanks for the info, docojoy! Sadly (for us) that was not our experience.

wgc, if you do insure your mare, I'd advise reading all the fine print. The information I posted above was buried deep in the back of our contracts.

Good luck! Smile

ckaye · Posted: Mon Apr 16, 2012 11:25 am Post subject:

Great American is an underwriter, not an agency. You cannot purchase a policy directly through Great American.

I like GA, too, and I purchase my policy through Blue Bridle. They've always been excellent.

docjocoy · Posted: Mon Apr 16, 2012 11:29 am Post subject:

wgc517 · Posted: Mon Apr 16, 2012 11:51 am Post subject:

Ok so I called BB, (thanks for the info). It would cost me roughly $875.00 per 10K. The cut off was 15yo where the multiplier is 3.4 vs 8.75 for a 16yo. At this point I think I will leave it up to faith and hope that her trip to KY goes well. I guess I am more protective of this mare since she has been a pretty good producer. Thanks for all of your insights....

Laurierace · Grade II Winner Joined: 07 Dec 2004 Posts: 1276

Insure the foal. They are cheap.
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madelyn · Posted: Wed Apr 18, 2012 6:43 am Post subject:

I have a client who is looking for foal insurance - what is the best deal on that?
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Laurierace · Grade II Winner Joined: 07 Dec 2004 Posts: 1276

I don't know if it is the best deal but I use Independent Equine Agents. You can google them. Marla Moore has been my agent for almost 20 years. LaurieB had an agent that was a better deal on the horses that were actively racing but since I haven't had one of those in a long time I can't remember who that was.
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