insurance on show cattle

[noel73]

How do I go about obtaining insurance for a couple of show heifers.  We have never done this before, but with these two animals it is going to be needed.  We will be showing a heifer for someone that is going to want her back and both parties want to make sure that if something happened we would not be out money.  If ya'll want to share what you know about insuring cattle - the good, the bad and the ugly- I'd appreciate it.

 

[coachmac]

might try this! 

http://livestockins.com/

 

[noel73]

Thanks,  that is all I need - a name of somewhere to get started. 

 

[coachmac]

Try this one as well.  Ask for Scott Gonsior! Great Guy!  Just be sure to tell him I sent ya!  8)

http://fullertonnational.com/content/index.php?module=phatform&PHAT_MAN_OP=view&PHPWS_MAN_ITEMS[]=2

 

[chambero]

My general opinion on cattle insurance is that if you can't afford for them to die, don't spend the money on them.  You'll spend a lot of money over the long-haul insuring them.  Your situation is a little different with a loaner calf, but...........

The animal probalby isn't truly worth what the breeder claims it is, otherwise they would have sold it.  If it was truly as valuable as they claim for breeding and they didn't want to sell it, it wouldn't be worth the risk of having it showed.  So, be careful about letting them make you spend as much on insurance as you could buy a good heifer for.

Me and my family have shown heifers for people before that didn't want to sell them.  And I've provided heifers for other kids to show.  Every deal I've ever been a part of - both on the receiving and giving ends - is if an animal dies - for whatever reason - nobody owes anybody anything.  The breeders loses his animal and you've lost your hard work and feed.  The issue needs to be discussed upfront, but I'd be very reluctant to take on an animal otherwise.  If they want it insured, tell them to buy it.

 

[worthabit]

I recently insured our new herdsire from his travel across the country to our place and for an entire year against all causes of death for $4/thousand of value with our local mutual insurance company. I questioned them on the coverage as I think this is extremely cheap but they assured me he is covered. We already have a showing of livestock clause in our policy so maybe that is taken into consideration.

 

[chambero]

I've always heard of rates around 5-10% of the insured value per year.

 

[noel73]

Thanks for all the input.  I am looking into some of the places suggested.  We have never felt the need to do this before, but I just want to make sure there would be no hard feelings if something did happen.  It would only be for about 20-24 months. 

 

[wiseguy]

$4/ thousand seems way to cheap to me. I just insured our bull that is traveling from Canada to Illinois for the first 6 months that we own him. After that he will never be insured again. We will collect him then turn him out with cows. That semen is better than any insurance policy that I could ever buy. Anyway it cost us 4% of the purchase price and I thought that was cheap.