.
 
 
Q:
 Is there coverage to help me pay for my horse’s medical and surgical expenses?
A:

Yes, this option covers medical and surgical fees due to a covered injury, illness and disease during the policy term, including diagnostics and x-rays with an aggregate amount and a deductible.  Please see the Medical/Surgical section of insuring your horse for more information.
Q:
 What is the difference between Actual Cash Value and Agreed Value?
A:

Agreed Value is the value determined by you and your insurer based on purchase price, training, breeding, show records and other applicable information.Usually the insurer will ask you to submit a Substantiation of Values form with your application, to verify the amount of insurance.

Actual Cash Value is another term used in the determining of a horse’s value. Here the insurer determines the horse’s value at the time of death and this can differ from the amount on the insurance policy, more or less. The insurance company will only settle a claim on an ACV basis if an obvious reason warrants the change in value.
Q:
 Can I increase or decrease the value of my horse later?
A:

Yes, you can increase the value with documentation such as show records, at any time during the policy period.  If you wish to decrease the value, you may also do so.
Q:
 What is the Guaranteed Extension of Coverage?
A:

This coverage provides that in the event of a condition occurring and reported during the policy period, mortality coverage will automatically continue for 12 months from the expiration date of the policy for that specific condition.
Q:
 Does my homeowner’s policy cover my private equine liability exposure?
A:

Make sure to check with your homeowner’s agent on this coverage. Some companies will cover your personal equine exposure, others do not or limit coverage. However, personal liability under your homeowner’s policy never covers a commercial exposure, such as teaching lessons, horses owned by a corporate entity and some companies exclude horses used on public roads. Please see Private Horse Owners Liability and Commercial General Liability for more on this.

Q:
 Can I get a temporary policy for a horse I am trying?
A:

Equine Mortality Policies must be written on an annual basis. However, an insured may cancel that policy at any point and any unearned premium will be returned to the insured. Please note, minimum premiums and fully earned premiums, such as Major Medical Surgical Coverage will not be returned.
Q:
 What is the difference between Full Loss of Use and External Loss of Use?
A:

Full Loss of Use, including economic provides coverage in the event you horse is permanently unable to perform its insured intended use due to accident, illness, injury or disease, as long as these were not pre-existing conditions.  Full Loss of Use covers internal and external conditions. These conditions include but are not limited to:

EPM and other protozoan, torn suspensory, and navicular.

External Loss of Use, provides coverage in the event your horse is permanently unable to perform its insured intended use because of a visible injury, such as a torn suspensory or bone break.
Q:

Is it true the company reserves the right to take the horse after a loss of use claim is made?
A:

The Company will pay up to 75% of the horse’s value and does reserve the right to take the animal.  I n mares it is also not uncommon for a company to deduct the mare’s residual value as a broodmare from the claims settlement.
Q:
 Can I get Loss of Use and Major Medical Surgical without purchasing mortality?
A:

The Mortality Coverage is the actual policy and these other coverages are just endorsements added to that policy.
   
 
Q:

I board and care for other’s horses, does this mean I need Care Custody and Control Coverage?
A:

Wade & Egbert strongly advises anyone responsible for other’s horse in a commercial capacity to purchase Care Custody and Control Coverage.  Whether you board, breed or train one of these horses could possibly be injured in your care. If you are found negligent this policy provides for the medical care or replacement cost of the horse up to your policy limits.  Defense costs are also covered under this policy.
Q:

I trailer boarder’s horses to various events and to the veterinarian, will the CCC coverage respond to injury or death in this situation?
A:

Yes, your CCC policy will respond in this situation.  In addition, the CCC policy is important because even if your client carries mortality insurance on his or her horse, their mortality carrier can subrogate against you and your employees if you are negligent.  The CCC policy would pay for defense costs and claims up to the policy limit in this situation.

Q:

I need coverage for my local equestrian organization, what sort of coverage should I look at?
A:
 You need a Clubs and Associations policy.  This coverage protects your group if  you are faced with a lawsuit by a third party.  Defense fees as well as claims for property damage and or bodily injury are covered.
Q:

What if I only have one show/event or am not sure exactly how many show/events I will have this year?
A:

It is possible to cover one event day and this will include the day before and after the event for set up and take down.  If you are unsure of the number of days tell your insurer how many days you are sure of and they can give you a quotation for those days and decide on a per day rate for your exposure.  Then, if days need to be added, simply call your insurer in advance and those days can be added to your policy at the per day charge.
Q:
 What sort of exposures does Commercial Equine Liability Cover?
A:

The CEL provides coverage if you are sued by a third party who is injured or whose property is damaged.  This policy covers defense fees and pays for claims within the policy period for which you or one of your full time employees is legally liable. So aside from the general boarding, breeding and instruction and training, this coverage is also necessary for horse related events such as clinics and shows.
Q:

I have independent instructors teach at my boarding facility, will my CEL cover them?
A:

Your CEL does not automatically cover independent instructors, he or she will need his or her own Commercial Equine Liability or for a feee you may add the instructor to your policy to cover the individual while working on your behalf.. Furthermore, insist they add you to their policy and provide you with a certificate of insurance.
Q:
 What is a double aggregate?
A:

The double aggregate doubles the amount of coverage during the policy period but does not double the coverage per each occurrence. Therefore, if you have a $500,000 occurrence limit with a double aggregate, your policy could pay out $1,000,000 in claims during the policy period.
Q:
 What is Excess Coverage?
A:

Excess Policies have the same coverage terms as your underlying coverage but Extend your limits of coverage in $1,000,000 increments. Excess Policies function like Umbrella Policies, but unlike Umbrella Policies, Excess Policies do not broaden coverage.
Q:
 Is there any way to cover arena footing?
A:

Yes, your policy can be endorsed to cover this, as well as collapse of an indoor arena ceiling due to weight of ice and snow.
Q:

All of my clients sign a release of liability waiver, why do I still need liability coverage?
A:

It is always a good idea to have your clients read and sign a waiver, written specifically for your facility by a lawyer who is familiar with equine exposures and equine laws specific to the state(s) where you are located.  However, waivers do not protect you from lawsuit because of gross negligence. A Commercial Equine Liability Policy provides you with coverage for defense costs and pays claims for  which you are legally liable within the policy period. Also, remember, you may be innocent of accusations brought against you, but still have to pay defense costs.
Q:

My state is one of the 35 with an equine limited liability law.  Won’t this protect me from a lawsuit?
A:

No, these laws were designed to limit and control liabilities where personal injury arises from equine related activities. There are exceptions to these laws, which differ from state to state and supercede liability limitations so that someone can bring suit against you.  Familiarizing yourself with these exceptions helps one to avoid the liabilities they create.
Q:
 At what ages can I insure my horse?
A:

Full Mortality Coverage: Horses over 24 hours old through 20 years 

Major Medical / Surgical: Horses over 151 days through 14 years old

Surgical Only: Horses over 24 hours old

Extended Named Perils: All horses of any age
Q:
 Are there any uses / disciplines which do not qualify for coverage?
A:
 Race horses, horses in race training or horses intended to race do not qualify for Major Medical / Surgical or Surgical coverage. Your horse’s use and/or indented uses must be stated on the mortality application.
Q:
 Is my horse insured when we drive to another state?
A:
 Yes, your horse’s Full Mortality and Medical coverage is not premises specific. Coverage is in force while your horse is in the US and Canada.
Q:
 What if I am buying a horse that is in another country? Will my horses have coverage while they are abroad and in transit?
  Full Mortality coverage can be extended to other countries. Prior notice with an additional premium charge must be paid before coverage can be extended out side of the US and Canada. Quarantine expenditures are not covered.
Q:
 Is it necessary to have a Veterinary Certificate completed in order to insure my horse?
A:
 Horses valued less than $25,000 do not require a Veterinary Certificate unless the horse has suffered a recent injury and or illness. Horse valued $25,000 and higher need to have a Veterinary Certificate completed within 30 days of coverage going into effect
Q:
 How much can I insure my horse for?
A:
 You can insure your horse for it’s fair market value or less. Fair market value is the dollar amount you could get if you sold your horse. This value is determined by purchase price, competition records and training. A Substantiation of Value form is often required to establish fair market value.
Q:
 Should I consider purchasing Major Medical / Surgical coverage?
A:
 Simply put, yes!  Major Medical / Surgical covers all reasonable medical treatment by a licensed Veterinarian necessitated by an accident injury or illness. It also provides coverage for non-surgical diagnostics up to the policy limit such as X-rays, ultrasounds, blood work, bone scans, up to six months from the onset of the condition. Under the terms of your mortality policy, you are required to give proper care and attention to your horse. If your horse develops a serious problem such as EPM, colic, or has a fracture and the veterinarians believe your horse can be saved, you are expected to provide for that care. Humane destruction is covered under the mortality policy, but economic destruction is not. If you choose to put your horse down for financial reasons, the mortality coverage would not apply. Major Medical/Surgical coverage would help you with these veterinary expenses. Major Medical / Surgical endorsement has a $7,500 Annual Aggregate Limit regardless of your horse’s value. There is a $250 deductible per illness, injury or incident. Horses from 151 days up to 15 years old qualify. When comparing Medical coverage’s from different companies, ask to see the wording to see exactly what is covered and more importantly, what is not covered.
Q:
 What can I do when my horse is too old to qualify for Major Medical / Surgical coverage?     
A:
 You should consider Surgical Only coverage for your horse. This option covers the cost of anesthesia / surgery and provides up to 35% of the surgical treatment in aftercare. Annual aggregate limit of $5,000.
Q:
 Do I need a Veterinary Certificate completed each year to renew my policy?
A:
 A Veterinary Certificate is not necessary for most renewals. This is normally true if your horse is sound, healthy, has not had any reported incidents or medical claims during the policy period, and is insured for less than $50,000. However, a statement of condition will be required for all renewals signed by the insured.