Equine

Mortality, Theft, & Colic 
  • What is it? This is the basis of most equine insurance policies. It is an all-risk mortality and theft policy that includes $5,000 in Colic Coverage.

  • What is covered? Covers you for death or humane destruction of your horse caused by accident, illness, or disease occurring during the policy period. In most cases, guaranteed renewal and a $5,000 emergency colic expense is included for horses 24 hours through 18 years old.

  • Requirements: In most cases, a vet check is required on horses less than 45 days old and horses over 16 years of age.

  • Cost: The premium is based on horse value. The value is multiplied by the insurance rate, usually between 3.0% and 10.5% (based on age and use).

Examples:

 

1. You have a 9-year-old calf roping horse insured for $15,000. He is turned out with some other horses and breaks his leg. The vet says he has to be put down and he euthanizes the horse. Your policy pays you $15,000.

2. You have a 4-year-old barrel futurity horse insured for $30,000. The horse colics and after an unsuccessful attempt at surgery, dies. The vet bill is $4,000. Your mortality policy pays you $30,000 for the value of your horse, and the included emergency colic surgery endorsement reimburses you up to a maximum of $5,000 of covered charges for surgical and miscellaneous extras.

Major Medical
  • What is it? This optional endorsement is added to an Equine Mortality & Theft policy. It assists with the costs of medical attention by a vet that your covered horse requires. For a covered horse, the insurance agency will pay for reasonable and customary vet fees ensued by you as a direct result of surgical and or medical treatment and miscellaneous extras as necessitated by an accident, illness, injury and/or disability occurring during the policy period.

  • Requirements: Usually available for horses between the age of 90 days and 18 years.  Not available for race horses in training or in competition.

  • Deductibles & Co-Pay: Depending on the coverage you choose, a deductible per occurrence or co-pay may apply.

Examples:

 

1.Your barrel horse is on a Full Mortality policy and you have added the $7,500 option of the Major Medical endorsement to protect your finances in the event your horse needs medical attention. The horse comes down with the usual cold, but it turns into pneumonia. The horse must be hospitalized to get him over this sickness. After two weeks at the vet, the horse is well and ready to come home. The vet bill is $3,500. This endorsement reimburses you for the vet bill for covered expenses, minus the $500 deductible.

 

2. You have a Full Mortality policy on your western pleasure mare and you have added the $10,000 major medical endorsement. One hot summer day, she colics. It isn’t a mild colic and she has to be rushed into surgery. The surgery is a success, and she is going to be fine. After the surgery, the incision gets infected. She has to stay at the vet for another week to aggressively treat the infection. The vet bill is $9,000. This endorsement reimburses you for the vet bill for covered expenses, minus the $500 deductible. A co-pay may apply to the reimbursement amount.

3. You have a Mortality policy on your Calf Roping horse with Major Medical $7,500. He quits working as well, you take him to your veterinarian who diagnoses him with a LR high suspensory injury. Over the next 4 months you incur vet bills amounting to $4,000 related to the injury. The Major Medical would reimburse you depending on co-pays and deductible.

Equine Specified Perils
  • What is it? This is a very limited coverage policy that covers your horse in the event of death caused by one of the very specific perils occurring and reported during the policy period.

  • What is covered? The policy covers your horse in the event of death caused by one of the following:

  • -Fire, lightning, &/or smoke resulting from fire or lightning

  • -Windstorm, hail & cyclone/tornado

  • -Collapse of bridges, culvert, trestles, roadways, docks, piers, wharves, or bulkheads

  • -Stranding, sinking, collision, or burning of a waterborne vessel while transporting the horse

  • -Collision, derailment, and/or overturning of a transporting vehicle including the loading/unloading of the horse from a transporting vehicle

  • -Explosion

  • -Riot or civil commotion

  • -Earthquake or volcanic eruption

  • -Flood

  • -Drowning

  • -Accidental shooting

  • -Electrocution

  • -Physical attack by dogs or wild animals

  • -Collapse of buildings, barns or sheds

  • Requirements: The covered horse must be between the ages of 2 through 24.

Examples:

 

1. You have a band of 5 broodmares in a pasture. You want to have them insured, but want to save as much money on a policy as possible. The mares range in value from $2,000 to $10,000. You take out an Equine Specified Perils on the mares. Two of the mares, both valued at $5,000, are caught in a tornado storm and are killed. You call Covered By Cori and report the accident. The policy pays out $10,000 for the two horses.

2. You have a 20-year-old gelding at the ranch that your kids ride at play days. He is valued at $3,500. You have him insured with an specified perils policy. During hunting season, a hunter is shooting at a deer and the bullet accidentally hits the horse, and kills him. You call Covered By Cori and report the accident. The policy pays out $3,500 for the gelding.

  • Cost: Rates typically run .6% for broodmare, 1.0% for all other uses.

Stallion Accident, Sickness & Disease
  • What is it? This policy is specifically for breeding stallions and pays the owner the value of the stallion (less salvage) if he becomes permanently infertile due to an accident, a sickness, or a disease.

  • What is covered? This endorsement pays the value of the stallion if he becomes permanently infertile as a result of an accident, illness or disease sustained or contracted during the policy period.

  • Requirements: A satisfactory vet exam stating that the stallion’s genitalia has been palpated normal. This endorsement is only available in conjunction with an equine full mortality policy.

Examples:

 

1. You have an AS&D policy on your $35,000 breeding stallion. You are pen breeding him to a mare when she kicks him in the genitals, rendering him infertile. You call your insurance agent at Covered By Cori and report the accident. The policy pays his value of $35,000.

 

2. You have a $15,000 breeding stallion that you put an AS&D policy on. He contracts a disease that makes him infertile. You call your insurance agent at Covered By Cori and report the incident. The policy pays his value of $15,000.

  • Cost: The cost of coverage is usually .50% of the stallion’s value.

Prospective Foal
  • What is it? This policy basically guarantees a live foal through your policy period. Policy term limits vary from 24 Hours to 365 days after the birth of your foal.

  • What is covered? The cost of the breeding is covered if your insured mare has not given birth to a live foal during the policy period and is not in foal at the expiration of the policy. The mare must be at least 42 days in foal from the last breeding date before coverage can be incepted. The foal is covered until it is either 7 days, 45 days, or 365 days old, depending on the term of your policy.

  • Requirements: Satisfactory vet exam stating that the mare has been palpated and sonogrammed in foal.

Examples:

 

1. You breed your cutting mare to a nice cutting stallion for $10,000. The vet costs for artificial insemination are an additional $1,000. The stallion owner does offer a live foal guarantee, but to be on the safe side, you take out a Pro-Foal policy in the amount of $11,000 for your total investment amount. The breeding and pregnancy are a success and a nice horse colt is born. He is healthy and nurses, so the stallion’s guarantee is fulfilled. Three days later, he is running through the pasture and hits a tree, breaking his neck. You call Covered By Cori and report the accident. The policy pays the $11,000 value of the foal.

2. You breed your performance calf roping mare to a nice stallion for $5,000. The embryo is transferred to a recipient mare to enable you to continue competing on your performer. The cost of the transfer and use of the recipient is $3,500. The recipient is called in foal by a vet and you get your Pro-Foal policy for $8,500 to cover the total investment. Six months later, the recipient mare colics and dies. You call Covered By Cori and report the incident. The amount of your $8,500 investment is paid out by the policy.

 

  • Cost: The cost of the Pro-Foal policy is determined by the mare’s age and produce history and well as the stallion’s age and breeding history. Additionally, you can choose a guarantee of the foal living to 7 days or 365 days.

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Protecting Your Legacy