OklahomaHorses Magazine July 2021

16 OklahomaHorses • July/August 2021 was mounting a mare, and she kicked him and broke his leg. He had to be put down.” She says a more common client, or claim, would be a competition horse, such as a rope horse. “One claim that stands out recently is a guy in Nevada with a rope horse that he had owned for several years,” Jackson says. “The horse broke its leg coming out of the box at 9:30 p.m. The claim paid in three days, and he was able to get another rope horse.” Mortality Coverage The aforementioned rope horse claim is an example of a mortality policy. Equine mortality insurance provides coverage for death, humane destruction or unlawful removal (theft). “Basically, it’s a life insurance policy for a horse; the policy also provides emergency colic surgery with a $5,000 limit,” Jackson says. The policy is issued on an annual basis, and it can be renewed each year based on underwriting guidelines. Requirements for renewal include an updated (current) appli- cation and veterinary certificate (if required).  “Mortality coverage is available for horses aged 24 hours to 20 years old.  As with all other insurance, equine mortality insur- ance is designed to protect the insured’s investment,” Jackson says. “Oftentimes, if competition horses are leased out, such as a hunter jumper horse, the contract will require mortality and major medical coverage. “Any horse owner is a good candidate, taking into consideration the health, age and insurable value of the horse. We help provide coverage for horses valued from $1,500 to over $1 million. “As we all know, it’s extremely difficult to lose a horse, both emotionally and finan- cially. It’s always a good idea to have this insurance to help recover your investment.” Insurable Limits & Cost Insurable limits (insured value) are ini- tially based on the purchase price of the horse. Limits (insurable values) can be increased if justified by training expenses and/or the horse’s performance and/or earnings. Cost of the insurance is based on breed, age and use of the horse. The minimum annual premium varies from $150 to $250, based on the company’s guidelines. “Generally, a horse that is insurable for less than $100,000 and more than 90 days old can be bound with an application and statement of health completed by the in- sured. However, in some cases, a veterinary certificate of examination form completed by a certified veterinarian is required, such as if a horse is less than 90 days old, has insurable value of more than $100,000 or has had a health condition in the past 12 months,” Jackson adds. Health Coverage Equine major medical (health insurance) can be added to the mortality policy by en- dorsement; it is not offered as a stand-alone coverage, generally speaking. (The ASPCA is now the first to offer pet health insur- ance for equines—no mortality insurance required. Visit aspcapetinsurance.com to learn more.) Available annual limits are $7,500 to $15,000. Deductibles range from $300 to $450 per claim.    Major medical coverage reimburses the policyholder for veterinary treatment due to accidents, injuries, illness and disease which occurs during the policy period. Most companies have sub-limits for lame- ness diagnostics and treatments.  Major medical, or veterinary services, does not cover routine visits, preventative treatments and/or performance-enhancing procedures, including but not limited to injections and chip removal. Surgical coverage is also available. Annual limits range from $5,000 to $15,000, and, as with major medical, the deductible amount will vary by company. In addition to horse insurance, Prairie States also offers farm/ranch, cattle and even alpaca and exotic animal coverage. For more information, visit prairiestatesinsur- ance.com/index.php/files. “As we all know, it’s extremely difficult to lose a horse, both emotionally and financially. It’s always a good idea to have this insurance to help recover your investment.”