Last updated: September 15, 2026
If you’ve ever watched a horse break down in a race and wondered whether the owner just lost everything, or you’re getting ready to put your own horse into training, you’ve probably landed on the same question: are race horses insured, and if something goes wrong, does the owner actually get anything back?
Yes, some racehorses are insured but the options narrow considerably once a horse is actively racing or in race training. Most insurers will only write mortality coverage – essentially life insurance for the horse.
Below, I’ll cover what kinds of coverage exist, what’s actually available to you once a horse starts racing or training, what it really costs, and whether it’s worth carrying on a racehorse specifically.
Table of Contents
Are Racehorses Insured?
Most owners who’ve got real money in a horse carry at least mortality coverage on it, and plenty of trainers and breeders expect to see it in place. But racehorse insurance works a little differently than insurance for a trail, show, or barrel horse. Once a Thoroughbred is actively racing or in race training, most carriers will only sell you mortality coverage – the medical, surgical, and loss-of-use options that are available to other horses generally aren’t, according to Marshall+Sterling’s guide to racehorse coverage. Those coverages typically open back up once a horse’s racing career ends, or if you insure a young prospect before it goes into training.
Miles’ Take: We typically insure our racehorses, especially while they’re young and in training. Young horses are notorious for breaking down, and if you’ve got real money invested in one, insurance lets you recoup some of that if the worst happens. It’s one of the first calls I make once a horse goes into serious training.
What Types of Horse Insurance Are There?
Most people don’t think about insuring their animal, but insurance is critical when you own a valuable horse, and making a claim can be a headache if you don’t understand your coverage going in. Whether you’ve got a trail horse, a stud, a barrel horse, or a racehorse, there are four basic types of coverage available. Not every type applies to every horse at every stage of its life – more on that in the next section – but here’s what each one actually does.
- Mortality
- Medical
- Loss of Use
- Liability
Mortality
Mortality insurance is essentially life insurance for your horse – it pays out for accidental death, humane euthanasia, or theft. The premium depends almost entirely on the horse’s insured value, along with:
- Age of the horse
- Declared and provable value
- Pre-existing conditions
- The horse’s use (racing, breeding, pleasure, and so on)
Most insurers require a veterinary exam and a copy of your purchase receipt or invoice before binding coverage. Many full mortality policies also automatically include a modest amount of emergency colic surgery coverage, often in the $2,500 to $5,000 range, though the exact limit varies by carrier.
Medical
Medical coverage typically comes in two tiers. Minor medical handles smaller vet visits, diagnostics, and routine treatment. Major medical/surgical covers bigger-ticket procedures like colic surgery or orthopedic work, usually with annual limits somewhere between $5,000 and $15,000. Both tiers carry a deductible, and as with most insurance, a higher deductible means a lower premium.
Some brokers offer a cheaper, surgery-only version of medical coverage. Terms vary a lot from broker to broker, so it’s worth reading the fine print before you assume two policies are equivalent.
Loss of Use
Loss of use insurance pays out if a horse is permanently unable to do the job it was insured for – a career-ending injury in a dressage or jumping horse, for example, or infertility in a breeding stallion. It usually requires a veterinary exam up front and mortality coverage as a prerequisite, and it can be genuinely difficult to claim, since proving a horse is no longer viable for its intended role isn’t always straightforward.
If loss of use ever seems like a good fit, read the fine print closely. Some carriers require the horse to be euthanized or surrendered to the insurance company before a claim will pay out.
Liability
Liability insurance matters most for owners of training facilities or any horse used around the general public. It covers you if your horse injures someone or damages property. See the liability section below for more on how this plays out for racehorse owners specifically, including a note on Louisiana law.
What Can You Actually Insure While a Horse Is Racing?
This is the part that surprises a lot of new owners. Once a Thoroughbred is actively racing or in race training, most companies will only write mortality coverage on it – not medical, not surgical, not loss of use. Marshall+Sterling’s racehorse coverage page confirms this is standard across most of the market: those other coverages become available again once the horse retires from racing, or if you insure it as a young prospect before it enters training.
That narrower window comes with a higher price tag, too. Mortality rates for Thoroughbreds actively racing or in training commonly run higher than the roughly 2.8% to 4.5% of value that a non-racing horse would pay – often somewhere in the 5% to 6.5% range, reflecting the real breakdown risk that comes with training and racing at speed. As an example, Marshall+Sterling cites a mortality premium of about $1,300 a year on a $20,000 racehorse at their 6.5% starting rate.
One practical tip worth knowing: insuring a horse as a yearling or before it starts training is typically cheaper than insuring it once it’s already racing, since the horse hasn’t taken on race-day risk yet. If you know a horse is headed for the track, getting a mortality policy in place early can be the more economical move.
How Much Does Race Horse Insurance Cost?
Cost depends on the horse’s age, value, use, and any pre-existing conditions, but here’s a realistic range for each type of coverage, drawn from current industry data.
| Coverage Type | Typical Annual Cost | Notes |
|---|---|---|
| Mortality – non-racing horse | About 2.8% to 4.5% of insured value | Example: roughly $280 to $450 a year on a $10,000 horse |
| Mortality – racehorse in training/racing | About 5% to 6.5% of insured value | Example: roughly $1,000 to $1,300 a year on a $20,000 racehorse |
| Major medical/surgical | $250 to $850 for $5,000 to $15,000 limits | Generally not available while a horse is actively racing or in training |
| Liability | $85 to $275 | Fewer carriers write liability specifically for racehorse owners |
| Loss of use | Varies widely by value and discipline | Not typically available for horses actively racing |
These figures come from USEA’s current horse insurance cost data for the non-racing ranges, and from Marshall+Sterling’s racehorse coverage guide for the racing-specific rate. Actual quotes vary by carrier, state, and the individual horse, so treat this table as a planning range rather than a guaranteed price.
Liability Insurance for Racehorse Owners
If a horse is used around anyone other than its owner, liability insurance is just good business. It’s often required if you operate a training facility with horses available for public use, and it’s frequently required for racehorses as well.
That said, some states limit an equine professional’s liability from the inherent risks of horse activities. Louisiana’s version of this is found in R.S. 9:2795.1 through 9:2795.3, which limits liability for equine and farm animal activity sponsors when an injury or death results from the inherent risks of the activity – provided the required warning signage and contract language are in place. If you operate an equine facility, talk to a lawyer about the specific requirements in your state; the rules vary, and I’m not an attorney.
Think about what would happen during a race if one horse fell and caused another horse or rider to get hurt. That’s exactly the kind of situation liability insurance is built for – it compensates others for injuries or damages, rather than leaving the owner to cover it out of pocket.
Is Insurance Worth It for a Racehorse?
I buy mortality insurance on horses valued at over ten thousand dollars. I’ve yet to make a mortality claim myself, but as a horse owner, you know how fragile they can be – one bad step can be fatal.
When you tally up everything that goes into owning a horse, adding a few hundred or even a thousand dollars a year for insurance can feel like a lot. But skipping it can end up costing far more. Consider a horse you’re still paying off on a payment plan: a freak accident that causes significant injury or death could leave you making payments on an animal that’s no longer alive. In that kind of situation, insurance is close to a no-brainer.
There are also times when insuring a horse isn’t worth it. A pleasure trail horse used only by its owner may not justify the expense from a purely economic standpoint. But veterinary costs for horses escalate fast – their size alone means specialized facilities and equipment, which drives up the bill.
Miles’ Take: We had a racehorse develop colic that required corrective surgery and follow-up veterinary care. The bill ran into the thousands. That’s exactly the kind of situation where having medical coverage in place turns a financial gut-punch into a manageable expense.
So how do you decide? Weigh the horse’s value and the risk of its intended role against the cost of coverage. Some disciplines carry more risk than others, and a horse in a genuinely dangerous role may cost more to insure because of it. In most cases, a minimum of mortality, minor medical, and liability (where applicable) is a reasonable expense, especially once a horse starts making money.
Minimum mortality coverage often works out to close to a dollar a day, which is a lot more affordable than most new owners assume. If your horse is worth over $10,000, insurance is close to a must. And if you don’t have the disposable income to absorb a surprise five-figure vet bill, insurance is a smart way to cover that risk before it happens. As the old saying goes: it’s better to have it and not need it than to need it and not have it.
Below is a helpful video on the basics of equine insurance.
FAQ
Are racehorses insured?
Yes. Most owners carry mortality insurance on a racehorse once real money is invested in it. Once a horse is actively racing or in training, most carriers limit coverage to mortality only – medical, surgical, and loss-of-use options generally aren’t available until the horse retires from racing or is insured before it enters training.
How much does race horse insurance cost?
Mortality insurance for a racehorse in training typically costs about 5 percent to 6.5 percent of the horse’s insured value per year, compared to roughly 2.8 percent to 4.5 percent for a non-racing horse. On a $20,000 racehorse, that works out to somewhere around $1,000 to $1,300 a year for mortality coverage alone.
What does race horse insurance cover?
While a horse is actively racing, insurance is usually limited to mortality coverage, which pays out for accidental death, humane euthanasia, or theft. Many mortality policies also include a modest amount of built-in emergency colic surgery coverage. Liability coverage is available separately for owners and facilities, though fewer carriers write it specifically for racehorses.
Can you get medical or loss-of-use insurance on a horse that’s still racing?
Usually not. Most insurers only offer medical, surgical, and loss-of-use coverage before a horse enters race training or after its racing career is over. While a horse is actively racing, mortality insurance is typically the only option available.
Is race horse insurance required?
Mortality insurance generally isn’t legally required, though some tracks, trainers, or partnership agreements may expect it. Liability insurance is often required for training facilities open to the public, and for some racehorse ownership arrangements as well.
Insurance isn’t the fun part of owning a racehorse, but it’s the part that keeps one bad step at the track from turning into a financial disaster on top of an emotional one. Get familiar with what’s actually available while a horse is racing, price out mortality coverage early, and add liability if anyone besides you is ever around the horse. It’s a small, manageable expense next to what it protects.
About Miles Henry
Racehorse Owner & Author | 30+ Years in Thoroughbred Racing
Miles Henry (legal name: William Bradley) is a professional horseman based in Folsom, Louisiana. He holds Louisiana Racing License #67012 and has spent over three decades managing Thoroughbreds at premier tracks including Fair Grounds, Delta Downs, and Evangeline Downs.
Expertise & Hands-On Experience: Beyond the track, Miles has decades of experience in specialized equine care, covering everything from hoof health and nutrition to training protocols for Quarter Horses, Friesians, and Paints. Every guide on Horse Racing Sense is rooted in this “boots-on-the-ground” perspective.
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