Determining the insurance value of your horse

Horse and owner in a barn

Q:
  I would like to insure my horse for mortality insurance, how do I determine the insurable value?
A:  

Horses are an investment and establishing the value is important to protect this investment. An equine Mortality policy is designed to reimburse your financial investment if you were to lose that horse today. At Markel, we offer an Agreed Value policy and the horse’s value is established by its original purchase price or stud fee paid. However, there are other factors that play a role in determining the value:

  • The horse can be insured for more than its original purchase price once you have invested additional training, successful showing, or even breeding to the horse. The increase in value can be demonstrated by submitting the horse’s show, breeding, and/or training records.
  • If the horse was homebred, the insured valued begins with the stud fee paid. This value will depend on the age when the insurance policy is acquired. We may also require confirmation of value by submitting the horse’s show, breeding, and/or training records. Markel establishes the horse’s value prior to the policy being taken out, which will provide you with peace of mind in the event of a covered claim. The insured value is different for each individual horse, so please reach out to your agent or underwriter to discuss your options. Remember the insured value can be adjusted anytime during the policy period on a healthy horse.

Markel establishes the horse’s value prior to the policy being taken out, which will provide you with peace of mind in the event of a covered claim. The insured value is different for each individual horse, so please reach out to your agent or underwriter to discuss your options. Remember the insured value can be adjusted anytime during the policy period on a healthy horse.

Horse and owner in a barn
This document is intended for general information purposes only, and should not be construed as advice or opinions on any specific facts or circumstances. The content of this document is made available on an “as is” basis, without warranty of any kind. This document can’t be assumed to contain every acceptable safety and compliance procedures or that additional procedures might not be appropriate under the circumstances. Markel does not guarantee that this information is or can be relied on for compliance with any law or regulation, assurance against preventable losses, or freedom from legal liability. This publication is not intended to be legal, underwriting, or any other type of professional advice. Persons requiring advice should consult an independent adviser. Markel does not guarantee any particular outcome and makes no commitment to update any information herein, or remove any items that are no longer accurate or complete. Furthermore, Markel does not assume any liability to any person or organization for loss of damage caused by or resulting from any reliance placed on that content.

*Markel Specialty is a business division of Markel Service, Incorporated, the underwriting manager for the Markel affiliated insurance companies.
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