February 22, 2012
Equine Mortality
You will be paid the value amount stated in the policy.
Mortality coverage is on a full or limited basis. Limited mortality covers for death caused by certain named perils such as fire, transportation accidents. Full mortality covers all causes of death except those that are excluded; coverage is provided for death as a result of injury, illness, humane destruction, and transportation anywhere in the continental USA or Canada and includes loss or death as a result of theft. The horse's use, breed and age determine the premium rate used. The Full Mortality policy also includes the following at no additional premium:
- Colic Surgery Coverage of up to $3,000 at no additional charge. (Available with certain companies)
- Agreed Value Coverage provides that if a covered mortality claim occurs, you will be paid the limit on the horse that is stated in the policy provided the value of that horse at any time during the policy period was at least equal to the limit of indemnity,.
-Guaranteed Extension Coverage provides that if a condition occurs and is reported during the policy period, the mortality coverage will automatically continue for up to 12 months from the expiration date of the policy for that specific condition. (This extension applies only to horses ages 16 years and under.)
The following coverages are optional and may be added to your full mortality policy on an individual basis:
Major Medical and Surgical
The coverage has a$10,000 Annual Aggregate Limit subject to a $250 deductible for each illness, injury or incident. The premium is $300 per horse and is fully earned (no refunded premium if coverage is cancelled for any reason). There is also an Annual Limit of $7500 subject to a $250 deductible for each illness, injury or accident. The annual the fully earned premium for this coverage is $250 per horse. Both limits are subject to the insured value of the horse (for example if the horse is insured for $6,000 the annual aggregate payout is limited to $6,000.)
Surgical
(Limited to surgery)
Surgical coverage covers reasonable and customary charges for surgical treatment (including anesthesia) necessitated a by accident, injury or illness. Coverage includes up to 35% to 100% for approved non-surgical medical fees, incurred during the 30 days following the surgery for services directly relating to the surgery. The maximum payable for non-surgical veterinary fees will not exceeded 100% of the actual surgical operating room charges. Depending on the insurance company there is a $0 deductible or $50 deductible for each claim, with a $5000 aggregate limit per year. The premium varies by company and is $85 or $100.
Trip Transit and Air Transit
Mortality coverage may be extended to include international transportation to and from other approved countries and areas that are outside of the coverage territory. The premium charged for Trip Transit coverage is rated at 0.5% one-way and 1% for round trip of the horses insured value and is fully earned. This coverage requires prior notification to the company.
Stallion Infertility for Accident, Sickness, and Disease
This extension is charged at a rate of 0.5% of the insured value of the equine. It extends the coverage to your proven stud if it should become permanently incapable of settling mares in foal as a result of accident, sickness or disease. The coverage provides payment of up to 90 % to 100% of the indemnity due under the mortality policy. Coverage is available to stallions that have completed their first breeding season.
Accidental Loss of Use
This coverage is available for horses from age 1 through 17. Depending on the insuring company, it pays reimbursement of 50-75% of insured value in the event a visible, external, accidental and violent means renders your horse permanently unable to perform its intended use. To be eligible for this coverage the horse must also be insured for Major Medical and Surgical Coverage or Surgical Only Coverage.