To keep the horse-racing industry on the level - and especially to prevent financially motivated (and otherwise unnecessary) destruction of unwanted horses - the kind and amount of insurance coverage available for thoroughbred racehorses is very limited. For example, there is no case (except at some horse farms, as mentioned above) in which an owner can be compensated, by any kind of insurance, for injury to or loss of use of his steed. That bears re-reading. Nobody - not the jockey, not the trainer, not the racetrack, not another horse or rider, not a stable hand, not a veterinarian (and not any of their insurance carriers, personal or otherwise) - can be held financially responsible in any degree for injury to or the loss of use of your racehorse, unless negligence or intentional harm is proven.

What is more, there is no set premium on any type of insurance concerning racehorses. The insurance company is not merely underwriting the "simple value" of the horse, but the history of the trainer, and in fact the moral character of both the owner and the trainer.