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