If a horse is killed or humanely put to sleep, what is the owner paid?

In the context of equine insurance, the owner of a horse is typically compensated based on the market value of the horse at the time it is killed or humanely put to sleep. This is particularly relevant because the market value reflects the horse's worth in the current market, taking into account factors such as its age, health, breed, training, and performance records.

The concept of "retired value" generally refers to a diminished or aged value that may apply to horses that are no longer performing at their previous level of ability. However, if a horse is actively engaged in its intended use and is killed or put to sleep, the compensation may be calculated based on the higher market value, not just its retired status.

Therefore, the correct answer addresses the nuance that owners will receive market value unless the horse is deemed retired, which could potentially lower its assessed value. This detailed understanding of how the valuation of horses works in insurance scenarios assists owners in knowing what to expect regarding compensation in unfortunate events.