Ponderings/mystifyment/bafflement - The 75K+ sales horse

[musical comedy]

So that's one of the big differences between expensive autos and expensive horses.

There is another difference, but it jmo. In general a plain, inexpensive car/truck will get you where you want to go just as well as a fancy, expensive one. That is not the case with horses. While there are overpriced horses, generally in order to get a horse with very good movement, soundness, temperament, looks, safety, etc. etc., the price tag is going to be high. Sure, someone will also point to some cheap horse that managed to defy the odds, but that is the exception not the rule.

[khall]

I have successfully made a claim for loss of use, but that was years ago and they changed the rules afterwards to make it way more difficult to successfully claim loss of use. I did get to keep the horse because I chose to accept half of the claim and keep the horse who is now buried on our farm. He lived until almost 27 when neck arthritis made him too uncomfortable to continue on. BTW it was his feet not his neck that the claim was about:) He ended up sound after 8 months of TO and pulling his shoes but never returned to his level of schooling (3rd with starting FEI work). I used the money I got from the claim to buy Rip's dam as a foal. Still have her, she is 24 this year.

So in no way do I think loss of use would be viable safeguard for your equine investment (They do not pay loss of use on mares since they can become broodmares instead of riding horses if injured). Now I do believe in both mortality and major medical. I have made several MM claims over the years. Not sure if I saved the cost of insuring all of my horses but it certainly has paid for some expensive treatments I have had to have done over the years with various horses. 3 of mine have both MM and mortality.

IMO with horses you just have to be willing and understand that they can and will break your heart with being unsound or not working out or out right losing them and rarely do we get back the $ we put into them. While I know some people do make money buying and selling horses it is not an easy task. That $75,000 dollar investment is just as likely to go toes up. Now I do know you can buy a lemon truck (a good friend had one, it never ran right from the day he bought it) but except for this possibility the insurance usually will cover the value of your vehicle (not what it cost you but what it is valued at the time of the accident.) You can also collect what your vehicle is when it devalues if in a wreck caused by another driver. I was able to get paid when my truck was hit and had a good bit of work done to make it drivable again. I was paid how much it devalued because of the accident.

Me personally and I think several others here have also said that they would not spend that kind of money on a horse. That is a significant amount that you would have to be comfortable with being able to lose. I'm not nor would I ask my family to accept that risk with that kind of money. But I am not a pro needing scores or showing to build a resume for teaching. The little I teach or ride other horses is not reliant on my showing capabilities. I completely understand though where a beginning pro would be served well in investing in such a horse (or do like Cedar and become an assistant trainer riding and showing the farm's horses) I can also see MC's point re cost of nice horses, but again that is assuming one wants to be a huge show arena success when I think most of us just like riding fun safe horses that we can progress with. Having huge showing goals is not nor do I foresee in the future to be a big goal of mine. Now do I like training for the higher level stuff? Absolutely. and yes at some point I would like to go down CL for a FEI and possibly a GP test if all the stars align. But I am not going to hold my breath if I don't. Especially since I much prefer showing at schooling shows for the fun factor.

[Chisamba]

Equine Loss of Use Insurance. Equine Loss of Use Insurance will reimburse you for a percentage of your horse's insured value should they sustain a career ending injury, illness, lameness or other issue that warrants them as PERMANENTLY unusable for their intended use

Another big difference between truck and horse, you drive your 75 k truck off the lot and the next day it's worth 20% less. Horses sustain or increase in value if they stay sound and maintain good scores.

Honest question, have you ever successfully made an equine loss of use claim? They are not easy to do, and in some cases if successful, you have to hand the horse over to the insurance company.

I bought a horse from the insurance company after it was paid off for loss of use. The owner begged me to get him because she did not know what would happen otherwise. Yes its is difficult because if you love the animal giving over the ownership is complicated emotionally.

this is the horse I bought from the insurance company after loss of use was paid off, he was blind, his eyes looked normal but his optical nerve had been damaged. He had some limited vision in one eye i showed him to third level, the vets said he would never be able to be trained because of his loss of vision

anyway, I took him on, i guess i was always a sucker for a sad story

[kande50]

Exactly the reason so many forego insurance, because then the insurance company gets a say in any decisions that involve a claim. So after I've spent countless hours bonding with my horse then they get to decide how he'll be treated based upon which option is most beneficial to them? I don't think so.