EQUINE MORTALITY INSURANCE

Protect your horse.

Horses are a substantial investment that deserve special insurance coverage. Whether you’re looking to protect your new off-the-track Thoroughbred, backyard pleasure and trail companion, up-and-coming show partner, or international level superstar, we have the people in place and access to the plans you need to give you peace of mind.

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Consider our equine mortality services.

An equine Full Mortality policy is basically a horse life insurance policy. It provides coverage in the event the insured horse dies during the policy period due to a covered accident, injury, illness or disease. It also includes limited coverage for theft. The typical horse mortality insurance policy will usually cover the horse while it is in the continental United States and Canada. Horse mortality insurance policies can typically extend to other countries as well, with prior notice and underwriting approval, and additional premium paid.

This type of equine life insurance coverage is generally available for healthy horses between the ages of 24 hours to 20 years.

The companies that we work with usually also include a free Emergency Colic Surgery endorsement as part of the horse mortality policy, for horses without a colic history. The amount depends on the insurance company. While this would only cover a portion of the costs associated with colic surgery, it is a valuable benefit. Please Note: If your horse has a history of colic or other gastro-intestinal issues, either medical or surgical, this added free endorsement may not apply.

Another type of mortality coverage that is available as an alternative to Full Mortality is often referred to an Extended Named Perils or Limited Perils or Limited Mortality coverage. This type of horse life insurance policy covers only if the horse dies as a result of a limited number of specifically named causes that are spelled out in the policy, such as fire, lighting, or flood. If your horse is still valuable, but ineligible for Full Mortality, you may want to consider this coverage.

Full mortality coverage for your horse may be bound upon receipt of a completed and signed application and underwriting approval. Additional forms may be required based on a horse’s age and value. Click here for a free quote.

Insured value.

In most cases you can insure your horse for its purchase price or less, if the horse is a recent purchase. If you have owned the horse for some time and believe he has increased in value, you may have the option to insure for more than the purchase price. To do this, you would need to submit a Substantiation of Value form which would help you list competition and/or breeding records, and/or professional training fees paid. If the horse is a homebred with no performance or breeding record of its own, generally the company will initially agree to an insured value of three times the sire’s stud fee. We will be happy to work with you in gathering the necessary information and submitting it to underwriting for their review.

Make sure to keep your horse’s bill of sale, proof of payment (such as the cancelled check, receipt, or documentation of a wire transfer), and performance and/or breeding records on file in the event you file a mortality claim, as these will be requested by the insurance company during the claims process.

Claims 

If your horse becomes ill, is injured, suffers an accident or lameness, needs non-routine veterinary care, requires surgery for any reason (even something that is not covered and/or is routine), dies, or is stolen, you must notify the insurance company immediately. Use the toll-free number on your policy, and someone with the insurer’s claims department will be available to help you any time, day or night. Failure to promptly report any of these situations to the insurance company could jeopardize your access to coverage under the policy.

In addition, if you are considering euthanizing your horse, contact the insurance company’s claims office in advance so that the adjuster can discuss with you and your veterinarian coverage parameters for this type of situation — otherwise you could jeopardize your coverage.

Also, if your horse unexpectedly dies, it is vital that you contact the insurance company’s claims department immediately, and that you do not bury or otherwise dispose of or move the body, as an investigation and a necropsy will be required, per your policy’s terms.

Medical/surgical coverages

These are the most popular endorsements that customers add to their Full Mortality insurance policies. Usually called Major Medical, Veterinary Services, or Medical Assistance (depends on the insurance company), they are a type of health insurance designed to help reimburse you for covered veterinary expenses (medical and/or surgical) in the event your horse suffers a covered accident, injury, lameness, illness or disease during the policy period. Typically a portion of the diagnostic and treatment expenses are covered, in addition to a portion of aftercare expenses, depending on the health issue the horse is experiencing, and the insurance company offering the coverage.

Coverage is typically available for horses ages 30 days to 20 years, depending on the insurance company.

Coverage limits (the maximum the insurance company will pay out during the 12-month policy period) of $5,000, $7,500, $10,000, and $15,000 are available. Premiums start at $200 and increase accordingly. Deductibles, co-insurance, co-pays, and/or sub-limits may apply, depending on the insurance company writing the coverage.

Some restrictions to available limits may apply, depending on the horse’s insured value, use, and/or age. Marshall+Sterling works with some companies that will consider offering these sorts of medical/surgical coverages regardless of the horse’s insured value. Most companies will offer these types of medical and surgical endorsements to horses through the ages of 18-20, especially if the horse has been continually insured and otherwise meets underwriting guidelines.

Keep in mind that these coverages are endorsements that are added to the Full Mortality equine insurance policy. They are not available as standalone policies.

Other available coverages.

Surgical Only/Colic Surgery/Catastrophic Accident
Generally speaking, these types of more limited coverages are added to policies for horses not eligible for the more extensive Medical/Surgical endorsements due to insured value, age, or use. These endorsements help reimburse you for covered veterinary expenses specific to that endorsement. Policy limits are available at $5,000, $7,500, and $10,000, depending on the horse’s insured value and the insurance company. Deductibles, co-insurance, co-pays or sub-limits may apply. Coverage is typically available for horses from the ages of 31 days to 20 years, depending on the insurance company.

Stallion AS&D
This infertility type of coverage will reimburse you for a percentage of your proven breeding stallion’s insured value in the event he can no longer settle mares in foal due to a covered accident, sickness, or disease that occurs during the policy period. A veterinary exam as well as breeding history will be required. Coverage is not available for unproven stallions. Coverage is usually available for horses between 3-14 years of age, depending on the insurance company.

We’re here to help you succeed.

Marshall+Sterling specializes in personalized plans that encompass a full range of equine, farm, and ranch insurance coverage options. Reach out to us today to learn more.

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