How much does Horse Insurance Cost?

Horse insurance is often more affordable than many owners expect — but how much equine insurance costs can vary widely depending on your horse, discipline, and the level of protection you choose.

For example, insuring a $10,000 horse typically costs between $280 and $370 per year for mortality (life insurance) coverage. That mortality policy also typically includes up to $5,000 in free Emergency Colic Surgery coverage, with additional medical and surgical protection starting around $250 annually. The right coverage isn’t just about price — it’s about protecting what you’ve built and making sure you’re prepared for what comes next.

What Does Horse Insurance Cost?

While every situation is different, most horse insurance policies fall within these general ranges:

• Mortality coverage: typically 2.8% to 4.5% of the horse’s insured value
• Mortality policies automatically include up to $5,000 in free emergency colic surgery coverage
• Major medical/surgical coverage: approximately $250 to $850 per year for annual limits from $5,000 – $15,000
• Liability coverage: often $85 to $275 per year depending on exposure

The exact cost depends on how your horse is used, its value, and the type of protection you choose. For example, for a horse age 2-14 years at an insured value of $10,000 you could expect an annual mortality insurance premium of:

• $280-$300 if used for dressage, reining, cutting, ranch, or pleasure.
• $325-$370 for show hunter/jumpers, barrel horses, and roping horses
• $390-$450 for eventers and first field fox hunters

Wondering what coverage for your horse might cost? Get a free, customized quote today so you can be confident in making a decision to protect your bank account, your horse, and your peace of mind.

Equine Insurance Costs by Coverage Type

Mortality

Equine Mortality insurance coverage is life insurance, plus theft, and usually includes varying limits of free emergency colic surgery coverage. This type of policy protects the financial investment you’ve made in your horse. Cost is calculated as a percentage of the horse’s insured value (called the “rate”)  — typically between 2.8% and 4.5% annually for horses age 2-14.

The rate is determined by the horse’s age, breed, and use, and rates vary depending on the insurance company. Since the Mortality premium is based on a percentage of the value, if you double the horse’s value, the annual premium doubles as well.

• At age 15 or 16 (depending on the company) rates gradually increase each year through 20, which is the age most companies will no longer offer a Full Mortality policy.
• The rates for foals and yearlings are higher, with the highest applied to the youngest.
• Foals age 24 hours (the youngest age that coverage will be offered) to 30 days old range between 6-8%.
• Insuring a foal when it is at least 31 days old typically lowers the rate by a couple of percentage points.
• Pro Tip: For horses one year and older, insurance companies base age by the year of birth. For those younger than one year, they use either days or months.

How your horse is valued plays a direct role in what you’ll pay. If you just recently purchased your horse, the maximum you can insure him for is the purchase price you paid. With some companies you might be able to include all or a portion of transportation costs and/or commission paid.

If you have owned the horse for 6 months or longer, purchase price is your jumping off point, but you could potentially insure the horse for more if the horse has been in competition and/or you have paid for professional training.

You can learn more about how your horse’s insured value is determined here: Equine Insurance Value

Free Emergency Colic Surgery (ECS) endorsement

Most Full Mortality policies automatically include an ECS endorsement, providing the horse does not have a history of colic or gastrointestinal issues.

• ECS limit depends on the insurance company offering the coverage and the horse’s insured value
• $7,000 if the maximum available in the marketplace
• $3,000-5,000 is the average limit

Comprehensive Medical/Surgical

• Helps reimburse for covered medical and surgical veterinary expenses related to an injury, illness, accident, lameness, or disease that occurs during the policy period.
• The name for this endorsement varies by company. Names include Major Medical, Veterinary Expenses, Equine Medical & Surgical, or Medical Assistance, and others.

Annual limits (the maximum available during the 12-month policy period) range from $5,000 to $15,000 with annual premiums ranging:

• $250 for $5,000 of coverage
• $375-$575 for $7,500
• $525-$675 for $10,000
• $625-$850 for $15,000

Surgical Only

Not losing sleep worrying about medical expenses, but instead more concerned about a high-dollar expense such as a colic surgery? Consider coverage restricted to just surgical expenses. These coverages come with significantly lower premiums than the comprehensive Medical/Surgical endorsements.

• $100 for $5,000 of coverage
• $150-$250 for $7,500-$15,000 of coverage

A Bit of Both

For horseowners that are somewhere in middle, definitely concerned about a surgery, but also worried about medical expenses for a severe injury or illness, some companies offer endorsements that are a mix of coverages. These hybrids typically respond for colic surgery, as well as illnesses such as Lyme or EPM, and for serious external injuries such as a laceration, with names such as Catastrophic Accident & Illness, or External Accident Major Medical, with annual limits starting at $5,000 for premiums of $300.

Pro Tip: In the event of a colic surgery, the ECS endorsement limit will be used in addition to a Major Medical/Surgical or Surgical Only endorsement. With some companies the ECS is primary coverage and will kick in first. If fully depleted, then any other endorsements on the policy respond. For other companies the Medical and Surgical endorsement limits must be exhausted before the ECS becomes available.

Stacking: Some companies allow you to purchase multiple endorsements, effectively “stacking” them. An example is choosing a Surgical Only endorsement plus a Catastrophic Accident & Illness endorsement.

Private/Personal/Individual Horse Owner’s Liability coverage (PHO/IHOL)

For horse owners concerned about liability risks associated with their horses, most companies offer a Horse Owner Liability Insurance policy. Some will add it as an endorsement to a Mortality policy, while most offer it as a standalone policy.

These types of liability coverages help protect the horse owners if their horse injures a third party or damages their property. Coverage for these types of damages present a concerning gap for the average horse owner since often the standard homeowners or renters policy does not provide coverage for exposures related to horse ownership, or if it does, is likely very restrictive.

There are multiple options to get this coverage:

• $85/year for a $1 million PHO endorsement added a Mortality policy
• $25/year for $25,000 in coverage with a different company
• $250-$275/year for standalone $1 million policies,

Want an official quote and more information and see about a PHO/IHOL policy? Our team is ready to help.

Equine Extras

One carrier we work with offers an endorsement to help with costs related to loss or damaged tack, evacuation expenses, and even costs for necropsy and burial.

• $150-$250/year for $15,000 in coverage for tack and limited related equipment, $30/day for up to 15 days for emergency evacuation, and $1,000 for necropsy and burial.

One size does not fit all

Every horse — and every owner — is different. That’s why the right insurance approach isn’t one-size-fits-all. At Marshall+Sterling, we take a consultative approach to equine insurance, helping clients understand their options so they can make confident, informed decisions — not just find the lowest premium.

Real World Cost Examples

Sample rates shown are only to illustrate how much horse insurance costs, and are not guaranteed quotes. Actual premiums vary by carrier, location, horse details, and coverage selections, and may change at any time.

What Most Horse Owners Overlook About Insurance Cost

Cheapest isn’t always Best
No one wants to be insurance poor—paying for coverages that you don’t want or wouldn’t use. But you also want to make sure you are covered for what matters most to you. With this in mind you want to make sure to talk to an agent who specializes in all things equine, and go over the details. Here are some things to consider:

Mortality

Agreed Value vs Fair Market Value
Ask the agent if the policy is written on an agreed value basis or has an agreed value endorsement, or if it’s written on a fair market value basis. Agreed value means that you can expect to be paid the insured amount on the policy, which would have been approved by the underwriter when the policy was issued. With a fair market value policy, or one that doesn’t include some sort of wording addressing how value is determined in the event of the horse’s death, if your horse passes away, you may be in a position of having to prove that the horse was worth the amount you insured it for.

Coverage Extensions or Guaranteed Renewal endorsement
Also ask the agent if a coverage extension is written into the coverage wording or if an endorsement is included for potentially life-threatening issues that occur during the policy period, and providing the horse survives, could cause death at a future date. For example, if your horse suffers a severe colic that requires surgery during the policy period and survives, you can expect a colic exclusion on the next year’s policy when you renew. This is because equine mortality policies are underwritten each year. This means that issues that occur during one policy can be considered pre-existing and therefore excluded on the next year’s policy.

That said, most Mortality policies include some sort of coverage extension wording, or Renewal Extension or Guaranteed Renewal types of endorsements (often depending on the horse’s age), that helps protect you for at least a year after the policy expires in the event the horse passes away. Your agent should be able to let you know if this sort of endorsement exists, and how it works.

Major Medical/Surgical

Determining the best option for your horse and your budget becomes more challenging when it comes to the Medical/Surgical endorsements. These coverages come with deductibles (the amount of covered expenses that you are responsible for before the insurance kicks in), and often co-insurance, co-pays and/or sublimits that typically affect expenses such as diagnostic testing (radiographs, ultrasounds, MRI, CT, bone scan, etc.), treatments for lamenesses (shock wave, regenerative therapies, bisphosphonate, etc.), and treatment for gastric ulcers.

In addition, most of these types of Medical/Surgical endorsements have similar exclusions—for example they don’t cover pre-existing conditions, well-horse care, transportation costs, the vet’s call charge, cosmetic or elective procedures, congenital conditions, joint injections, and experimental treatments to name a few. Other exclusions or restrictions vary depending on the company, and might impact the length of coverage for a claim, or how some conditions are treated, such as arthritis or navicular.

Ask the agent to send you a copy of the wording so that you can go over it in detail. And make sure to get clear answers for any questions you have.

How to Choose the Right Coverage for Your Budget

Insurance of any sort is basically a risk/reward calculation, which is something only you can decide when it comes to your horse, your financial situation, and your risk tolerance in general. Here are some considerations:

Coverage gaps or limitations – Value, Use & Breed
One of the most common challenges horseowners face is finding comprehensive Medical/Surgical coverage for horses used for certain disciplines such as eventing or barrel racing, certain breeds, and especially at values under $15,000-$20,000.

• With our strong relationships with most major U.S. insurance carriers, at Marshall+Sterling—unlike most agencies—we work with multiple companies, including those with the flexibility to offer comprehensive coverage to horses with more modest values, including youngsters, gifted or adopted horses, and prospects just purchased off of the racetrack.
• In addition, as the Official Insurance Provider of the USEA we offer excellent, comprehensive and cost-effective programs for event horses at all levels and values.

Newly Purchased Horses
If the worst happens and your brand new horse tragically passes away tomorrow, do you have the funds to spend the same amount of money to pay for your next horse? If like so many of us you would be out of financial options to purchase your next partner, consider insurance with a value at the purchase price, to get you through at least the first year which can be the most challenging when it comes to getting to know each other, living at a new barn with new  pasture mates, etc.

Successful Partnerships
If you have worked with your horse for years, paid for training, and achieved a level of competition success, you might realize that you do not have the funds to purchase a horse with the same training and at the same competition level. Insurance will protect your financial investment if the worst happens, so you don’t have to start from scratch with a much less expensive (and less experienced) horse.

Or you might decide your budget doesn’t support insuring your horse to its full value, and instead insure for a substantially lower value in order to save on premium and at least have enough to start over with a newbie.

Your Four-Footed Family Member
Your horse isn’t a piece of equipment; he’s part of the family. And especially if you have children who adore him, you don’t want finances to impact whether you can give him the best care if something goes wrong, like a severe colic, serious illness, injury, or lameness. And then God forbid, if the horse passes, you don’t want your bank account to determine if you’re able to find your child a dependable new partner. Mortality and Major Medical coverages help alleviate those concerns. While nothing will replace the horse you lost, insurance gives you the option of starting new when you’re ready.

Frequently Asked Questions

How much does horse insurance cost per year?
Equine Mortality insurance policies range from a few hundred dollars annually for lower-value horses to several thousand for high-value performance horses. And then additional coverages like Major Medical can be added to the Mortality policy, increasing the premium by as little as $250 to as much as $850, depending on the coverage limit and insurance company.

Is horse insurance worth it?
For many owners, equine insurance provides protection for the financial investment they have made in their horse—from the purchase price to training and competition fees—as  well as peace of mind that they can take care of their partner in the event of accident, illness, or injury.

Does horse insurance cover vet bills?
Medical and surgical coverage can help cover veterinary costs, including expenses related to diagnostic tests as well as treatments such as medications, therapies, and even surgery, depending on the policy.

What affects the cost most?
The horse’s value, discipline, age, and coverage type all influence pricing.

For more information, check out our FAQs section

Next Steps

Looking for more information?

• Give our offices a call at (844) 320-8060 and one of our equine risk advisors will be happy to provide a consultation to walk you through your options, and of course talk horses!
• Prefer to do business by email? You can request an emailed quote using our quote request form. It takes just a minute to find out how much it will cost to insure your horse.
• Or send an email directly to us at equineinfo@marshallsterling.com with your horse’s breed, age, use, value you would like to insure for, and limits of any other coverage you are interested in (such as Medical/Surgical), and we’ll get back to you right away.
• Your horse is already insured? Contact us by any of the above methods and request a personalized equine insurance review. We’re happy to talk through the right coverage for your horse and budget.
• Check out our FAQs page

Final Thoughts

Putting into perspective all the time, money, and effort that we put into our horses, who we consider members of our family, and the fact that we insure all our other major investments–trucks, trailers, houses, barn–consider adding your horse to that list.

From life’s big moments to its unexpected turns, at Marshall+Sterling we help you plan for every chapter, tailoring strategies around your evolving journey — anticipating change, adapting to your goals, and making sure your home, family, and belongings are protected.

About the Author

A lifelong equestrian starting out in 4-H trying everything from western pleasure and halter classes to barrel racing, and then moving on to show hunters, eventing, and dressage, Amy J. Daum has more than three decades of experience in the equine insurance industry. A founding partner of Broadstone Equine Insurance Agency, she joined Marshall+Sterling seven years ago when Broadstone became part of M+S, and now serves as the Equine division’s Vice President of Operations.