Valuation for Mortality Insurance

You want mortality insurance on your equine partner, but determining value can be tricky. (By Gretchen Ditto)

Every horse has value. In choosing an equine mortality insurance policy you must consider the amount of coverage you actually need. You can insure up to 100 percent of the value of your horse, but obviously, the more expensive the horse, the higher the premiums will be. Rates for equine mortality insurance depend on several factors, including the horse's current value, age, sex, breed and discipline.

For most owners, value is the one variable that is the most difficult to determine. Basically the question you want to answer is "How much would it cost to buy another horse similar to mine?"

Insurers suggest that you factor in several considerations to arrive at a figure:

- Purchase price. The price you paid is a good starting point for gauging value. However, your horse's worth is likely to change over time, so there are other factors to consider as well.
- Training. The more training you've put into your horse, from ground manners to skills in your discipline, the more his value will have increased above his purchase price.
- Competition records. Your horse's showring successes are a good way to substantiate his current training levels.
- Breeding record. Successful offspring demonstrate the worth of mares and stallions. Higher values can be justified by the selling prices and performances of progeny as well as other measures of success, such as a stallion's fertility or a mare's ability to carry foals to term.
- Appraisals. Another way to determine value is an evaluation by an equine appraiser. Many are breed-specific. To ensure an accurate appraisal, find a professional with a thorough working knowledge of your breed and/or discipline. Some insurers also accept evaluations conducted by veterinarians.
- Market comparison. Even clippings from classified ads can help substantiate your horse's current value. Some insurers recommend keeping a file that shows the asking prices of horses similar to yours, especially if you don't have other documents to support an increase in value.

If you decide to insure your horse for more than his purchase price, your insurer is likely to ask you to complete a value-substantiation form to justify your figure. Sometimes no additional documentation is required; however, if you file a claim you may find that the burden of proof is on you.

Most agents recommend that you keep an ongoing file of relevant information, such as your horse's show record, training fees and breeding record. That little bit of planning can alleviate the frustration of having to scramble for the information later, during a time that's already emotionally difficult.

Just A Horse? I think not!

JUST A HORSE

From time to time, people tell me, "lighten up, it's just a horse," or, "that's a lot of money for just a horse".

They don't understand the distance traveled, the time spent or the costs involved for "just a horse." Some of my proudest moments have come about with "just a horse."

Many hours have passed and my only company was "just a horse," but I did not once feel slighted. Some of my saddest moments have been brought about by "just a horse," and in those days of darkness, the gentle touch of "just a horse" gave me comfort and reason to overcome the day.

If you think it's "just a horse," then you will probably understand phrases like "just a friend," "just a sunrise," or "just a promise."

"Just a horse" brings into my life the very essence of friendship, trust, and pure unbridled joy. "Just a horse" brings out the compassion and patience that make me a better person. Because of "just a horse" I will rise early, take long walks and look longingly to the future.

So for me and folks like me, it's not "just a horse" but an embodiment of all the hopes and dreams of the future, the fond memories of the past, and the pure joy of the moment.

"Just a horse" brings out what's good in me and diverts my thoughts away from myself and the worries of the day.

I hope that someday they can understand that it's not "just a horse" but the thing that gives me humanity and keeps me from
being "just a woman/man."

Anonymous