When the worst happens….

Loss of a horse is devastating and nothing prepares you for the weeks of sadness that follow.  Morning chores are never the same again with that one “winny” or “nicker” missing.  The pasture looks different and the herd dynamic changes forever.

 We always preach about being prepared for the unexpected.  Despite all the planning and effort, things can and still do go wrong.  Some comfort can be found in knowing that you planned for medical expenses and/or replacement value when a loss does occur.  This is the whole idea behind insuring your horse(s) with Major Medical, Mortality or Lack of Use coverage.

Coverage varies from company to company, but in general Major Medical Insurance provides for financial assistance when a horse suffers a catastrophic illness such as colic, injury or disease.  Policies can have deductibles and limitations, similar to human insurance and details are specifically agreed upon and spelled out in the policy.  Minimum standards of care may be required.

Lack of Use insurance is a broad term that can cover loss (or potential loss) from an issue that prohibits a continued performance career or breeding future.  This insurance is usually sought for horses who earn substantial monies in performance events or as a breeding animal.  

Mortality insurance is a benefit payable upon the death of an animal.  It has limitations as with the others coverages and typically has no deductable.  Mortality is usually the most affordable type of equine insurance.  Premiums are based on risk factors including age, use, breed, sex, history and care program. 

 Specialized policies are available with some carriers so researching in advance of purchase is well advised in order to best meet your specific needs and the needs of your horse(s).

  Having experienced a loss and subsequent payout from an equine insurer, I caution buyers to select a carrier carefully.  I was very fortunate in that the company I chose did an outstanding job of working with me at a time when I was very distraught.  The benefit arrived within days of the tragedy and I was able to replace my beloved mare within the year.  Others have not had such a professional experience.  Payoffs were slow in coming and/or carriers placed blame (negligence) on owners and refused benefits all together.  As a result, new comers to equine insurance should carefully investigate the carrier they choose.  Examine the policy and check the company’s references and Better Business Bureau complaints.  Other tips include:  

1. Be honest when filling out applications.  Specific questions will be asked related to the horse’s health, background, use, housing and care program.  Falsifying any portion of the application could result in a denial of benefits.
2. You will be required to do an insurance exam.  Use a Veterinarian for the exam that knows you well.  Many history-related questions will be asked and unless you have an established relationship with the examining Veterinarian, he/she may not be able to accurately reflect you, your horse or care/use program.
3. Pay the premiums on time!  Failure to pay on time may cause the policy to lapse and coverage to end.
4. If any conditions change, notify the carrier immediately.  If your mare is insured as a show horse and you plan to breed her, you need to update your policy.  If you move your horse to a new facility, notify the carrier.  If you are unsure what condition constitutes notification, check the policy or simply ask!
5. When a horse becomes ill or is injured, call the company immediately.  Don’t wait until the animal is near death or ready for surgery to contact the carrier.  Speaking to them prior to a reimbursable event helps to insure that you have followed their process correctly.
6. When appropriate, allow the attending Veterinarian to speak directly to the carrier.  When my loss occurred, the Veterinarian had spoken to the company several times while administering treatment.  They told the Veterinarian specifically what needed to be included in order to insure coverage.  This included required blood work, treatment options, post mortems etc.  At no time did the company dictate protocol, rather they communicated and listened as to what was best for my horse.  In the end, the Veterinarian and myself made the decisions. 
7. Follow specific directions as dictated on your policy.  This includes paperwork required after a tragedy occurs.  Surrender of registration papers is usually required upon death (they eventually are returned after being marked by the carrier).  Copies of medical treatments may be necessary for submission and/or signatures of attending Veterinarians.  Do just as instructed by the carrier and the odds of a benefit being paid are substantially greater, if not guaranteed.

 For free access to additional equine insurance information, you may call the North American Horsemen’s Association toll free at:  1-800-328-8894.