Questions & Answers
How does Equine Insurance differ from more traditional insurance policies?
Equine Insurance is very different from your home, auto, and health insurance policies. If you have a claim during the year, it does not result in surcharges. Instead, you will likely end up with an exclusion on your policy. Likewise, if your horse has a previously existing condition, it is likely to show up on your Equine Mortality policy as an exclusion.
How do I know if my policy will have exclusions?
We will know what, if any, exclusions will be placed on your policy at the time of binding. If you find that the exclusions are such that you do not want the policy, we can cancel the bind and negate the policy (as long as it is done within 30 days of the effective date with no claims having been filed).
Do exclusions last forever?
Exclusions can be removed from a policy on a case-by-case basis. Other exclusions may last forever. It often depends on the nature of the exclusion and how long ago the condition began.
Where do these exclusions come from?
Exclusion wording can come from information provided on your application, information provided by your veterinarian on the pre-purchase exam, previous claim activity, or even previous insurance information known about the horse.
What is an exclusion?
An exclusion gives the company the right to deny coverage for potential injuries, accidents, or illnesses. Exclusions are put on new policy's with horses that have a pre-existing conditions. For example, If the a horse has experienced a colic in the last few years, an exclusion for "Colic" would most likely be put on the policy, and the company will not pay out on a claim related to a colic. They are usually worded on the policy as such:"It is hereby understood and agreed that any loss or death as a direct or indirect result of the following condition(s) is/are hereby excluded with respects to the horses and coverages that follow..."