FRIDAY, FEBRUARY 26, 2021
How to Understand Equine Mortality Insurance
Horses are not house pets. They are very valuable commodities, both to private owners and to thoroughbred breeders. They are also loved and trusted animal companions to those who possess them. If your horse were to pass away, then it would be not only devastating, but also quite costly to cope with the loss. The death of your horse could leave you facing considerable financial lost, not to mention many final expenses left by their death (not dissimilar to those left by any human).
Under these circumstances, you can turn to equine insurance for assistance. Policies are designed to specifically safeguard the financial commodities associated with owning a horse. In case of death, a specific benefit called full mortality insurance will be able to step in to help you out. How does this coverage work?
The Benefit of Having Full Mortality Insurance on Your Horse
If you were to die today, what would your family do to cover the costs of burial, final expenses, medical bills and other costs? What would they do without the income you provided them? To help answer this question for yourself, you might choose to invest in life insurance. It’s there to help those left behind by your death pay the costs that might arise.
You can think about equine mortality insurance in exactly the same way. It is essentially life insurance for your horse. After all, should your horse pass away, then there are going to be costs that accompany the death. The loss of your horse is going to be hard in any case, so you shouldn’t have to worry about how you will settle outstanding final costs.
What Full Mortality Insurance Covers
Mortality insurance for horses can extend to numerous instances where your horse might pass away. These include:
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Death due to any accident, illness or disease (provided that this issue did not develop prior to the policy taking effect).
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Humane euthanization of the horse, as long as it was recommended by a veterinarian.
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Death related to accidents occurring during travel by air or land.
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Theft of a horse. Please note, however, that in order to file a claim you must report the theft expediently, file a police report, and verify that efforts have been made to recover it.
So, suppose that when you are traveling to a horse show, you are involved in a vehicle accident and your trailer overturns. Unfortunately, one of the horses is killed. Under the circumstances, your mortality insurance will help you cover the agreed value of the lost horse. Keep in mind, you must be able to prove this value to your insurer in order to fully document your claim.
If you have any questions about the benefits of equine mortality insurance, speak to one of our agents today. We are here to help you get the benefits you need to always keep your livestock fully insured, despite any losses that might beckon.
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