HorsesDaily®

We know your horse is priceless.  Placing a value on a horse can be difficult. If you have recently purchased a horse, or if the horse has gone through a professional sale, the selling price is generally an accurate evidence of value, and an indication of where the market is headed.  With more and more horses coming from Western Europe, the transit fee can be quite expensive averaging between $5,000 to $8,000. If shipping within the United States the fee can be upwards of $2,000. You may also add in the cost of professional transport. So how do you determine investment in training and showing?

In these changing times, with so much going on in the world, there is great news for our customers and friends who share our passion for horses, and the lives we share with them. I am pleased to announce I have recently accepted a position, effective March 31, 2003 as an Equine Insurance Specialist, with Markel Insurance Company, a subsidiary of Markel Corporation and “The Insurance Company with Horse Sense.” For the past 15 years I have represented American Bankers Insurance Group as an independent insurance agent, and like many others, was disappointed, but not surprised when ABIG announced their withdrawal from the equine insurance mortality market. This withdrawal has created a legitimate concern among sport horse owners who want to be sure that their financial and emotional investment is fully protected. I have known Markel and its affiliates during the 25 years that I have been involved in the equine industry, and was honored when they asked me to become a Markel associate. For over 40 years Markel has provided uninterrupted protection for horses and horse-related risks in the US and internationally. Throughout my investigative process I have developed the greatest respect for Markel management, underwriting and claims expertise. Markel Insurance Company is rated “A Excellent” by A.M. Best Company and offers the most comprehensive protection for your horse. In the event of loss their mortality policy pays the agreed value of the horse, instead of the fair market value. Their Medical/Surgical endorsement provides for the industry’s longest period…

When you locate your ideal sport horse, you want to validate your investment. To reduce the risk of unsoundness, you contract with an equine practitioner to examine the horse. You're hiring the veterinarian as a consultant to report on the horse's well-being. With a full report, you can make an informed decision to purchase or reject the animal. Whether you buy a horse stateside or in Europe, this task involves a series of specific procedures. The examination is an inspection for soundness, unlike the examination that focuses on lameness. The practitioner approaches the horse assuming it's in ideal shape. During the process, the veterinarian will record findings and any deviations from normal.   Plan the Paperwork As the buyer, you and the seller (or the seller's agent) agree on the veterinarian to engage. You and the seller may sign a release form. Consult with the veterinarian about the extent of the examination. Depending on your intended use of the horse and its cost, you may opt for a more detailed series of tests. The veterinarian will give you a report, summarizing the findings in the procedures conducted. Ask what happens if the horse does show lameness the day of the examination. Veterinarians often encounter lame horses to be examined prior to purchase-as many as 40 percent. In this case, you may want to reschedule the examination. Although there is no "standard" examination, every veterinarian follows typical procedures. When you buy a horse in Europe, you'll usually rely on a local…

Insurance can be a very expensive product. When the premium bill comes, it is easy to get into "that won't happen to me" mode and not adequately insure. But a little cost benefit analysis can help you make a rational choice as to what types of coverage you need and what the amounts of those coverages should be. Liability coverage is both the easiest and hardest coverage to gage. Why? Because what it might have to cover is always unknown. Good liability coverage will pay for whatever injury to other persons and damage to the property of others a court may find you responsible to pay for, AND a good liability policy should also provide for the payment of your legal costs in defending against a claim. The latter can be a significant amount if you become involved in a personal injury or significant property damage claim, even if you are ultimately found not to be liable for damages, and is an important part of any liability coverage policy. It is not unusual for personal injury and wrongful death judgements to exceed $1 million, so this is not coverage to be taken lightly. Liability coverage is often attached to property insurance for assets used in the underlying activity. For instance, your auto policy should provide liability coverage for damage and injury that happens while you are driving your vehicles, and your home owner's or renters policy should provide liability coverage for injuries incurred by others on your residential property. Homeowners…