Equine Law Blog

What You Didn’t Know About Equine Insurance

You’re about to apply for equine mortality insurance on your new horse. What you might not know is that these policies are unique, and some features of this type of insurance might surprise you. For example:

• The insurance company, from the moment it agrees to insure your horse, has a vested interest in the horse. Once the company agrees to insure your horse, it has a right to know when your horse has become injured or ill – and promptly. This blog has addressed this right in the past. The insurance policy gives the insurer that right, and the insurer takes that right very seriously. After you report a problem, the company’s claim representative might became active in following – or possibly controlling – your horse’s care. Claims staff often speak with attending veterinarians. Also, claims staff might arrange for a second opinion or arrange removal of the horse for veterinary attention.
  
  
• Even if your horse has certain unsoundness problems, the insurance company might still insure the horse (with special conditions or exclusions). Regardless of the type of insurance, truthfulness in the application process is paramount. Equine insurance applications require disclosure of your horse’s veterinary history as well as any history of illness or lameness. In addition, some insurers might also require a Veterinary Certificate of Examination or health statement.
  
  Many people assume that a horse with a history of lameness or colic is totally uninsurable. Not necessarily. An equine insurer still might be willing to insure the horse, but with special conditions and limitations. That is, the policy might have an exclusion preventing coverage for a claim arising directly or indirectly from a described, condition. For some horse owners, a policy with an exclusion still offers acceptable protection because coverage might be available for other, unrelated conditions that could arise in the future. Also, depending on the horse’s condition, insurers might be willing to remove certain exclusions upon renewal.

Equine insurance issues can be complex. Direct your questions to a knowledgeable attorney or insurance agent.

Categories: Insurance