EQUINE MORTALITY AND MAJOR MEDICAL
Horse Mortality Insurance
If you own a horse you have a financial investment you should protect.
Over the last few decades Corinthian has become the agency of choice when it comes to insuring our most precious horses with the best in mortality and major medical protection. Most horse owners feel insurance is too expensive. Truth is, if you own a horse and could not afford to replace it or pay thousands in vet/hospital bills you should seriously consider insuring your horse(s).
A Horse Mortality policy is basically life insurance for your horse with you as the beneficiary. Mortality coverage will provide you with the agreed limit of policy to replace your horse if it dies or needs to be humanely destroyed. Coverage is provided in most cases of death due to injury, illness, humane destruction or transportation accidents, and it also covers theft or mysterious disappearance.
Major Medical: An equine mortality policy including a major medical endorsement could save you a bundle if your horse is injured or becomes ill. The major medical coverage helps pay for “major” vet bills incurred from accident, injury or illness. Please note: preventative treatment such as worming, coggins, and routine physical exams are not covered. This coverage is typically available for horses 31 days -15 years old. (Please inquire about coverage now available to older horses) Annual limits range from $2,500 to $15,000.
Surgical Only: This endorsement provides coverage for the expense of surgery necessitated by accident, injury or illness. The term surgery refers to medical treatments that require the horse to undergo anesthesia. This coverage is typically for horses above the age of 15 years old but is available to any horse between 31 days and 17 years old. (Please inquire about coverage now available to older horses). Annual limits range from $2,500 to $10,000.
Transit Coverage: This endorsement provides coverage when a horse is traveling out of or into the US. For example, it would be added to a policy for a horse purchased in Europe and shipped to the US for about .5% of the insured value. Please note: Some parts of the world are considered “un-insurable areas”.
Named Perils: This endorsement provides coverage for death as a result of specific named causes, such as fire and lightning. This also includes coverage for theft. This is available for horses over the age of 24 hours old.
Loss of Use: This coverage pays the insured up to 50-60% of the insured value of the horse for the discipline listed on the policy. This endorsement may require additional veterinary examinations, and is typically only available to “athletes”.
Call or email us to request a quote and see how one of our equine insurance professionals can help you insure your horse.
The biggest exposure in owning a horse are liability claims, which happen when your horse hurts someone or damages someone’s property. We offer a separate private horse owners liability quote with all mortality quotes.
IMPORTANT! PLEASE READ
EXCLUSIONS & PREVIOUSLY EXISTING CONDITIONS
FAQs: What does it all mean and how does it impact my policy
Equine Insurance is very different from your home, auto and health insurance policies. If you have a claim during the year – it does not result in surcharges. Instead you will likely end up with an exclusion on your policy. Likewise, if your horse has a previously existing condition or malady, it is likely to show up on your Equine Insurance policy as an exclusion.
What is an exclusion?
EXCLUSIONS are usually worded on the policy as such:
“It is hereby understood and agreed that any loss or death as a direct or indirect result of the following condition(s) is/are hereby excluded with respects to the horses and coverages that follow:
EXAMPLE: Horse Name: Thunder
Do Exclusions last forever?
Exclusions can be removed from a policy on a case by case basis. Other exclusions may last forever. It often depends on the nature of the exclusion and how long ago it happened.
Where do these exclusions come from?
Exclusion wording can come from information provided on your application, information provided by your vet on the pre-purchase exam or previous claim activity (or even previous insurance information known about the horse).
How will I know if my policy will have exclusions?
We will know what, if any , exclusions will be placed on your policy at the time of binding. If you find that the exclusions are such that you do not want the policy, we can cancel the bind and negate the policy (as long as it is done within 30 days of the effective date with no claims having been filed).