Advantage Equine Agency Inc.
Horse Mortality Questions
What is mortality insurance?
Your horse's value is based on the purchase price but can be increased by submitting show records, breeding records or other information requested, that can substantiate the increase.
How do I determine the value of my horse?
Horse Mortality is a policy that protects an insured against a specific financial loss when his/her horse dies, subject to certain exclusions. There are various endorsements available to add to the mortality policy to give your animal more protection.
"Agreed value" means that a horse's value will be agreed upon at the inception of the policy, not at the time of a claim. Most mortality policies are agreed value. This means that you will be asked to provide proof of value before coverage is issued. This proof can come in the form of a purchase price or other records that could justify the value (See: How do I determine the value of my horse?)
How long will it take to get coverage?
Coverage can be bound when all signed applications, vet exam (if needed) and premium are received by our office.
What documents will I need to provide to get insurance?
You will need an application, a health statement or vet exam, and payment of the premium. If you are insuring your horse for more than the purchase price, you will need show or breeding records and other documents that substantiate the increase of value.
When do I need a vet exam? Will I need one at renewal?
This will depend on the company. A vet exam will be needed when the value of the horse exceeds at least $25,000 for some companies and $50,000 for others. Contact us for more details.
Vet exams are sometimes required at renewal, but not always. Below are a few examples of cases where a vet exam will be needed:
- The horse had a claim or injury during the previous year.
- The horse's value exceeds $25,000 or $50,000, depending on the individual insurance companies underwriting guidelines.
- A Loss of Use endorsement is on the policy
- The horse is over 16 year's old
Major Medical is an endorsement that will extend to provide reimbursement for covered vet fees including surgical and major illnesses. The amount of major medical coverage you can purchase will depend on the value of the horse. Each company has specific terms, exclusions, and requirements for submitting claims. Contact us for more information.
What is "surgical" coverage?
The Surgical endorsement provides reimbursement for reasonable, necessary and customary fees for surgical procedures. Each company has specific terms, exclusions, and requirements for submitting claims. Contact us for more information.
Loss of Use is an endorsement to the mortality policy. There are many different types off Loss of Use endorsements that range from injury only to loss from injury, accident, illness and disease. The coverage provides protection of up to 60% of the value of the horse for permanent disability.
What is the difference between "limited mortality" and "full mortality"?
Limited or Specified Perils policies are intended to indemnify an insured for the death of a horse for perils such as fire, lightning, collision, wind and theft. Please refer to your policy for a definitive listing of all named perils.
Full Mortality provides not only the named perils in a Limited Mortality policy, but also adds extended perils that include accident, illness, injury or disease. Please refer to your policy for a definitive listing of all perils.
Contact us for more explanation about the difference and determine which choice is right for you.
Foals can be insured at 24 hours after birth, for Mortality only. You may add Surgical or Major Medical once the foal reaches 6 months of age. Rates are higher for foals and yearlings.