Farm and Equine Insurance
Farm and Equine Insurance
Whether your passions lie in the thoroughbred racing or show/sport horse community, we have solutions to protect your equine and farm exposures. Our professional team has over 75 years’ experience working directly in the areas of racing, breeding, equine and farm liability, as well as farm owner’s coverages.
Our strategic alliances with insurance carriers allow us to place your coverage with some of the top-rated companies to protect even your most unique exposures. Let us show you how we can protect your passions and investments.
Equine Solutions
Equine Mortality
A Mortality policy provides coverage on your horse if you lose them due to an accident, illness, injury, disease, or veterinary recommended euthanasia. This policy will also protect your horse from theft. This base policy is required for any added endorsements (such as Major Medical and Surgical), and the horse must be in good health at inception of coverage. When it comes to proving good health, submitting a satisfactory veterinary certificate is acceptable. Your horse will also be covered anywhere in the continental U.S. and Canada.
There are three basic policy formats for mortality coverage. A straight mortality policy (no deductible applicable), a coinsurance policy, and a deductible policy. The main difference between the three formats is the straight mortality policy will not have a deductible in the event of a loss. The coinsurance policy and deductible policy will both have a deductible in the event of a loss. Regardless of the mortality policy format, you can cover an individual horse or schedules of your horses.
How Much Does It Cost?
Equine mortality policies are rated based on age, use, value, and gender of the horse.
Major Medical and Surgical
The Major Medical and Surgical endorsement offers reimbursement for veterinary treatments (both medical and surgical) for accidents, injuries, illness, or disease up to a limit. This endorsement does NOT reimburse maintenance veterinary costs. Please see examples of covered expenses below. This endorsement is NOT available on a stand-alone basis, but it can be added to a Full Mortality policy.
What you need to know:
Surgical Coverage
The Surgical coverage endorsement provides reimbursement for veterinary surgical procedures under general anesthesia. This coverage does NOT include medical treatment or sedated procedures.
What you need to know:
Colic Coverage
The Colic endorsement reimburses for veterinary expenses associated with medical or surgical treatments of colic. This endorsement is NOT available on a stand-alone basis.
What you need to know:
Prospective Foal Coverage
Prospective Foal insurance provides coverage against a mare that is greater than 42 days in foal aborting, slipping, carrying twins, or delivering a still born foal. This insurance also provides coverage in the event a live born foal dies during the policy period.
Prospective Foal coverage can extend through 7 days after birth, 30 days after birth, or 12 months after birth. Cover is subject to a current Pregnancy Certificate.
Loss of Use
A Loss of Use endorsement will reimburse a percentage of the horse’s insured value should the horse become permanently disabled and unable to perform their intended use. Coverage is available for horses in active competition in certain disciplines. There is also a Loss of Use available for External Accidents only. This endorsement is NOT available on a stand-alone basis, but it can be added to a Full Mortality policy.
Loss of Use eligibility requirements:
Loss of Use will NOT respond if the horse is permanently disabled due to:
This is NOT a short-term disability policy. In the event of a claim, the diagnosing veterinarian must state that the horse is permanently unable to perform the intended use ever again.
This coverage requires specific paperwork, applications, as well as an extensive veterinary examination.
Aviation and Territory
The Aviation and Territory Extension endorsement will extend the territorial limits of the policy beyond the United States and Canada. Travel to/from other countries is possible, pending company approval. Our office requires prior notification of travel plans. This endorsement is NOT available on a stand-alone basis, but it can be added to a Full Mortality policy.
What you need to know:
How much does it cost?
To extend your Full Mortality policy to countries outside of the continental U.S. and Canada, it would add 0.25% to 0.50% of the insured value to the annual premium.
Liability Solutions
Commercial Equine Liability
Commercial Equine Liability policies are designed for those involved with, but not limited to, any of the following:
If you earn any INCOME from equine activities, even if you do not consider yourself a professional, you should have this coverage in place. Policies are customized to your type of equine activities and your level of involvement. Personal liability is included in the policy, so the damages/injuries caused by the insured’s personally-owned horse would be covered even if it wasn’t involving the business activities.
Consider this: Even if the claims made against you are unfounded, the legal cost to defend against a lawsuit would be devastating. These liability policies are designed to protect the named insured. It does not automatically cover the costs that others incur. If an injured party (or their health insurance company) pursued legal action against the insured, the liability policy would respond to cover the defense costs and resulting judgements – up to the policy limits.
Limits available:
Excess limits available upon request.
We recommend the $1 million/$2 million coverage limits. This is because damages can be costly regardless of the size of your business.
How much does it cost?
The minimum premium for the $1 million limit starts at $500/year and up. Premiums are all customized to your specific needs and risks. Each of our underwriters rate their coverage based on different elements to your business. Depending on the level of activities you’re involved in, the income earned, and the varying risks involved, our agents can match you with the underwriting company best suited to your needs.
Personal Horse Owner’s Liability
If you are NOT involved in any commercial activities, you can obtain liability coverage for your horses that will insure you on and off premises. This policy would protect you in the event that your personally owned horse(s) damaged property or injured a third party.
Limits available:
Excess limits available upon request.
We highly recommend the $1 million/$2 million coverage limits. This is because damages can be costly – even with one horse.
Equipment/Tack
The Equipment/Tack Floater policy provides Named Peril Coverage for tack and other horse-related items. Premiums are based on the value of the equipment/tack which can include saddles, bridles, boots, blankets, tack trunks, etc.
What does it cost?
The minimum annual premium is $250 and the policy has a $500 deductible.
Farm Owner’s Insurance
Farm Owner’s insurance provides coverage to dwellings, barns, farm structures, equipment, and equine liability all in one policy. You can add Auto/Farm vehicle coverage and Excess/Umbrella coverage to your Farm insurance package. Farm owner’s insurance packages are designed to include a full scope of equestrian activities for the named insured both on and off premises.
The following can be included in a Farm Policy:
Horse Show/Event Liability
Horse Show/Event Liability is available on a short-term or annual basis for horse shows or series to insure against the risks involved in equestrian events. This coverage protects against property damage or bodily injury that may occur at horse shows. Horse Show/Event Liability is rated by the number of show days, participants, and probable spectators. Move-in and move-out days are included with each scheduled event. Both rated and unrated shows can be insured. We work closely with the national organizations to provide the required coverage at recognized events.
Limits available:
Excess limits available upon request.
Club Liability
Club liability coverage provides protection to the club and its members from legally obligated costs due to property damage or bodily injury of a third party during club activities for limits up to $1,000,000 per occurrence. Excess limits are available. These policies can include all club activities such as: shows, clinics, fundraisers, trail rides, and even year-end banquets.
How much does it cost?
The minimum premium, depending on the state, starts at $400/year and up. Policies are tailored to the club’s specific activities and club events are added on a per-day basis. (i.e. Each show day costs a certain amount and each clinic day costs a different amount – depending on number of participants, etc.).
And more!
Call us today to see how we can help you with your farm and equine needs.
