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DO
I REALLY NEED EQUINE MORTALITY INSURANCE?
FULL
MORTALITY COVERAGE
WHAT
IS FULL MORTALITY COVERAGE?
WHAT DOES IT COVER?
WHAT IS
THE COST FOR FULL MORTALITY COVERAGE?
MAJOR
MEDICAL COVERAGES
SURGICAL
ONLY COVERAGE
WHAT
DOES SURGICAL ONLY INSURANCE COVER?
WHAT IS
THE COST FOR EQUINE SURGICAL INSURANCE?
COLIC ONLY COVERAGE
LOSS
OF USE
WHAT
IS LOSS OF USE COVERAGE?
WHAT IS
THE COST TO ADD LOSS OF USE COVERAGE?
HOW CAN I GET MORTALITY INSURANCE FROM E.P. BISHOP CO.?
ARE PAYMENT PLANS
AVAILABLE?
DO
I REALLY NEED EQUINE MORTALITY INSURANCE?
At E.P. Bishop Co., we
understand that being involved as a horse owner represents a
financial and emotional commitment. Horses can contract any
number of illnesses and life-threatening diseases, and caring
for a horse under these conditions can quickly become extremely
costly. Equine mortality insurance protection from the E.P.
Bishop Co. is specifically designed to protect your financial
investment, and, at the same time, help you do a better job
protecting and caring for your horse.
This literature on equine mortality insurance is intended to
assist you with general descriptions of the Full Mortality and
other horse related coverages available through the E.P. Bishop
Co. It also offers the information you need to best determine
which insurance is right for you and why. We ask that you please
review exact policy wording for a thorough explanation of
specific coverages.
FULL
MORTALITY COVERAGE
WHAT
IS FULL MORTALITY COVERAGE?
A Full Mortality policy
provides horse life insurance protection for your horse for a
period of one year. Your horse can be insured for its’ fair
market value or less. To get this figure we would use the
purchase price or stud fee on a recently purchased animal. If
you have owned the animal for some time and it has increased in
value, you can support a request for an increase by providing
show or training records.
WHAT
DOES IT COVER?
Full Mortality Insurance can
cover foals, stallions, mares, and geldings of any breed. It
insures your horse against death due to an accident, injury,
illness or disease. This includes humane destruction to relieve
incurable and excessive suffering. This insurance includes theft
and transportation protection. If your horse is valued at
$100,000 or less and is 20 years old or younger, you may begin
the application process by completing an application and
submitting it to our office. For a horse valued over $100,000 or
a horse between 24 hours and 31 days old we will, additionally,
need a vet certificate included with the application.
WHAT
IS THE COST FOR FULL MORTALITY COVERAGE?
The annual premium is
determined by a rate from the E.P. Bishop Co. based upon value,
breed, age, and use. $200 is the minimum premium. (Example:
$8,000 X 3.5% = $280.00)
MEDICAL COVERAGES
You can purchase one,
two, three or all four of the major medical coverages (thereby
increasing your limits). This is called stacking. Major medical
coverage is an optional medical and surgical coverage that is
added by endorsement to your Full Mortality policy. It is
available to most horses from age 31 days through 20 years.
Just as people can be faced with unexpected medical bills, your
horse, due to an injury or illness, may end up presenting you
with an unforeseen financial burden. This coverage extends to
include diagnostic testing and cutting edge treatments such as
shockwave therapy, and IRAP and PRP therapies.
The Major Medical Insurance covers treatment for reasonable and
customary charges performed by
a licensed veterinarian necessitated by an accident, injury,
illness, or disease. This coverage also provides protection for
your horse should emergency surgery be needed. Under the Major
Medical coverage you have between $10,000 to $35,000 per insured
animal for emergency veterinarian care, or emergency surgery
depending on the coverage(s) you choose. This coverage is
subject to a $250.00 deductible per claim.
The cost per animal, per year is $375.00 for $10,000 in coverage
and/or $475.00 for $15,000 in coverage. These two may be
combined to provide $25,000 for $850.00.
SURGICAL
ONLY COVERAGE
WHAT DOES
EQUINE SURGICAL INSURANCE COVER?
If your horse needs to have surgery because of an illness or
injury, the full cost of its’ surgery will be covered subject to
a $250.00 deductible. The surgical policy will also pay a
portion of the cost of the surgeon’s miscellaneous charges.
These miscellaneous fees are normally for such things as
anesthesia, hospitalization, x-rays and lab tests. This surgical
insurance does not cover castration, operations for cosmetic
purposes, aslicks, or for a condition that your horse had prior
to the effective date of your policy. This insurance will pay
70% of reasonable and customary veterinary fees.
WHAT
IS THE COST FOR EQUINE SURGICAL INSURANCE?
Your Equine Surgical Insurance will cost $150.00 per horse, per
year. It covers necessary surgery, limited to a total cost of
$10,000 including the operation fee and the surgeon’s
miscellaneous charges.
COLIC ONLY COVERAGE
(No pre-existing conditions are covered)
There is a $10,000 limit per horse with a $250.00 deductible per
incident. There is 30% co-pay for reasonable and customary
veterinary fees. Coverage exists for gastric ulcer treatments
prescribed by a veterinarian as a follow-up to colic surgery.
This will be covered for a maximum period of 60 treatment days.
The cost of this coverage is $150.00 per horse per year.
LOSS
OF USE
WHAT
IS LOSS OF USE COVERAGE?
It is an optional disability coverage that is added by
endorsement to your Full Mortality policy, and the amount in
claim payment is determined by you at the time of claim.
Loss of Use is a condition which does not necessitate
destruction for humane reasons, but do to an accident, injury,
illness or disease the horse is permanently disabled and cannot
perform the functions as stated in the policy. This coverage
provides a payment of 50% - 70% of your horse’s value under the
Full Mortality policy.
WHAT
IS THE COST TO ADD LOSS OF USE COVERAGE?
Annual premiums are between 2.50% - 3.75% of the declared value
of the Full Mortality policy.
HOW TO APPLY FOR INSURANCE
HOW CAN I GET MORTALITY INSURANCE FROM E.P. BISHOP CO.?
Whether you are applying for Full or Limited Mortality coverage,
we do our best to make the application process easy.
All that is required is that you complete your application
accurately and include a veterinary exam, if required. Once we
receive this application and certificate, we will review the
information and issue a policy. Or, we may contact you first, in
the event we have any concerns or questions about providing you
with the proper coverage.
A WORD ABOUT BINDING
To make coverage even simpler and faster, so that you can rest
easier, we will bind your Equine Full Mortality insurance by
facsimile, if you instruct your veterinarian to call us to
verify your animal’s health. We will not consider your policy
bound until we receive your completed application and, if
needed, a veterinary certificate, and any other necessary
information that we may ask you to submit in order to approve
your application.
ARE PAYMENT PLANS
AVAILABLE?
Yes, E.P. Bishop Co. and Great American offer a variety of
payment options.
OTHER COVERAGES AVAILABLE
FROM E.P. BISHOP CO.
COMMERCIAL LIABILITY * HORSE OWNERS LIABILITY * FARM OWNERS
AUTO * CARE, CUSTODY & CONTROL * HORSE SHOW COVERAGE
CLUB LIABILITY * UMBRELLAS * WORKERS COMPENSATION |
