Commonly Asked Questions

If you own a horse, there are several types of insurance coverages to consider. These frequently asked questions will help you choose a policy that fits your needs.

 

  1. At what ages do horses qualify for insurance?
  2. Do I need a completed Veterinary Certificate?
  3. I've heard that my horse is covered by my boarding barn's policy.
  4. For how much may I insure my horse?
  5. What is the Extension Coverage?
  6. What does a Value endorsement mean?
  7. What is the Free Colic Surgery coverage?
  8. What coverage will pay for accidents, illness, or injury?
  9. If my horse becomes permanently disabled, is there coverage to protect me if this happens?
  10. How do I get Loss of Use coverage?
  11. How do I insure against the special risks of my breeding stallion?
  12. If my horse develops an illness or lameness during the policy, how will the company renew the coverage?
  13. When do I need a Veterinary Certificate completed?
  14. What if my horse injures someone?
  15. How quickly can I get coverage?
  16. What are my payment options?
  17. The answers to the above questions have given me more questions

 

1. At what ages do horses qualify for insurance?
24 hours through 17 years for Full Mortality and Emergency Colic Surgery. Major Medical coverage may be added to horses over 30 days of age and under 16 yrs, and with underwriter approval, Major Medical can be placed on horses through age 20. of age. Full Mortality coverage may be offered for horses age 18, 19 & 20 and cases are reviewed on an individual basis for those ages. Extended Named Perils coverage is available for all others.

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2. Do I need a completed Veterinary Certificate?
We can offer Mortality & medical for values up to $100,000 in insured value without a veterinary certificate. Of course, if you are applying for coverage on foals or for the addition (on adult horses) of Full Loss of Use coverage, the pertinent Veterinary Certificates must be completed.

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3. I've heard that my horse is covered by my boarding barn's policy.
If your boarding barn has proper insurance, then in addition to their Commercial General Liability policythey will have Care, Custody & Control coverage which is meant to protect them in the event that your horse is injured or killed, and they are found negligent. CCC is a liability policy that protects the boarding facility (not your horse directly).

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4. For how much may I insure my horse?
You may insure your horse for its fair market value or lesser amount.

Here are some guidelines:

  1. NEW PURCHASE: Horse insurance is based upon the fair market value of the horse. For example, if you just paid $10,000 for the horse, then that is the most you can place on his mortality coverage. (Don't forget, you can still purchase either $10,000 or $15,000 in medical coverage on any value horse).

  2. NEW PURCHASE FROM A FOREIGN COUNTRY: The above applies, although we can usually add the cost of international transportation (only, not other fees) to the horse's insured value.

  3. PURCHASED SOME TIME AGO: If you purchased your horse a while back or possibly for a very moderate amount of money and he has since shown and placed well, we will consider increasing his amount of mortality coverage to what would now be fair market value. Just call us to discuss the particulars (amount of training, show record, breeding record, etc), and we will together approximate his increased market value. You may further substantiate his increased current value by submitting his competition (or breeding) and training records (download our Substantiation of Value form)along with a professional assessment letter completed by a professional equestrian such as a trainer or horse show judge.

  4. HORSE WAS A GIFT: We take into consideration what his background is with a view to what his normal market value might be, had he been a purchase. We then determine a conservative amount to place on the horse's mortality coverage. In these cases, the most important part of the policy anyway is the medical coverage, and you can place $10,000 or $15,000 medical on a horse insured at any value.

  5. HORSE WAS A RESCUE: Similar situation to a horse that was gifted, although since a rescue animal might have come from an uncaring or desperate situation, I would suggest that the horse be insured for your actual purchase or donation price, and while we would not call for a veterinary certificate, the horse must be in good flesh and condition for us to be able to insure him.

  6. IN ALL CASES: the above applies to a NEW policy. Often horses increase in value markedly within the first year after purchase, especially when they have gone to a very caring home, or when they have blossomed and begun to do well in their discipline. We always have more latitude on renewal values, because we can know what has gone on with the horse in the past year. Show records, performance records, winnings, and amount of training all can count towards increasing your horse's insured value.

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5. What is the Extension Coverage?
Full Mortality policies include a twelve-month extension of mortality coverage for most conditions occurring and reported during the policy period. Since no company's extension is exactly like another's, see your individual policy for this wording.

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6. What does a Value endorsement mean?
A Value endorsement provides that, as long as your horse was worth its insured value at any time during the policy period, that will be the amount that you will be paid in the event of an approved claim. Most horse insurance policies are designed as Actual Cash Value policie and some are designed as Fair Market Value policiess, so the Value endorsement can make the claims process smoother. Some companies include this endorsement in the policy wording, and some charge a nominal fee for this endorsement. We always quote coverage to include the Value endorsement.

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7. What is the Free Colic Surgery coverage?
Our Full Mortality policies include Emergency Colic Surgery coverage, providing the horse does not have a history of colic problems or does not qualify for the coverage (some companies do not extend this coverage to halter horses). The maximum paid is $3,000, there is no deductible, and the amount paid is subject to the insured value of the horse (typically, payment is 50% to 60% of the horse's insured value, with a cap at $3000 paid).

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8. What coverage will pay for accidents, illness, or injury?
Major Medical/Surgical coverage responds to illness and trauma-related veterinary bills. Medical coverage reimburses you for veterinary fees in such events and also provides coverage for diagnostics. Some policies limit lameness diagnostics to $1000 per incident while others do not, but bear in mind that a policy that limits lameness diagnostics also may give higher coverage on something that another company does not cover at all (such as dental)

 

Each company offers different Major Medical plans. Usually, the Up to $7,500 Annual Aggregate Limit coverage offers a limit of a maximum of $7,500, not to exceed the horse's insured mortality limit, and is subject to a deductible ($300 or $500, depending upon the company) per incident. Additionally, there is a $10,000 Annual Aggregate Limit and a $15,000 Annual Aggregate Limit which is subject to a $300 deductible per illness, injury or incident, but not keyed to the amount of mortality coverage on the horse. Major Medical/Surgical coverage is available for horses between 30 days and 15 years of age, and subject to underwriter approval, can be available on horses through 20 years of age.

 

Surgical Only coverage costs less than Medical/Surgical and covers correspondingly less (surgery must be performed), but is a good option if your horse does not qualify for Medical/Surgical coverage. This option covers the cost of actual surgery and provides limited aftercare. Surgical Only coverage is available for horses 30 days through 17 years of age making this an affordable option for you to consider especially if your horse is 16 or 17 years old and no longer eligible for Major Medical coverage. In addition, it can be written on horses 18 to 20 years of age, subject to company approval. Importantly, this policy covers not only colic surgery, but also any other necessary surgeries (not elective).

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9. If my horse becomes permanently disabled, is there coverage to protect me if this happens?

Yes. This coverage is called "Loss of Use" and comes in two forms, External and Full Loss of Use. It was designed for our more valuable equine athletes, doing very specific and athletically demanding jobs, such as dressage or jumping. Loss of Use reimburses a percentage (generally, either 50% or 60%, depending upon the company) of your horse's value and cannot be written for breeding or pleasure horses (breeding horses can be covered by a fertility endorsement).

 

External Injury Only Loss of Use provides coverage in the event your horse is permanently unable to perform its insured function as a result of a visible, external, accidental and violent means injury.

 

Full Loss of Use provides coverage in the event your horse is permanently unable to perform its insured function due to an accident, injury, illness or disease as long as these were not preexisting conditions. Full Loss of Use coverage would respond to internal conditions (such as torn ligament, EPM, or navicular) as long as they first occurred and became permanent during the policy period. This coverage requires substantial X-rays and a drug screen along with an extensive veterinary exam.

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10. How do I get Loss of Use coverage?

The External Injury Only Loss of Use coverage is available for horses ages 2-17 years of age and does not require an additional Vet Certificate.

 

Full Loss of Use coverage is available for horses ages 2-12 years and requires the submission of our Full Loss of Use Vet Certificate for coverage consideration. This exam includes a health exam as well as flexion tests and a narrative of the required X-rays. A drug screen taken at the time of the exam is also required. Both types of Loss of Use coverage require Major Medical/Surgical coverage, or Surgical Only coverage if the horse is 16 or 17 years old and you have selected External Injury Only Loss of Use. Please call for more information if you are interested in either of these coverages.

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11. How do I insure against the special risks of my breeding stallion?

If your stallion is proven (has settled mares and is no longer in his first breeding season) you can add the Stallion Infertility endorsement (also called Accident, Sickness and Disease) to your mortality policy. For an unproven stallion, you may add Congenital Infertility. Call for further information; both coverages require special applications.

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12. If my horse develops an illness or lameness during the policy, how will the company renew the coverage?

In most cases, the company will offer renewal with an exclusion for the specific problem depending on its severity and, in most cases, you will still have mortality coverage for that specific condition under our normal policy extension.

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13. When do I need a Veterinary Certificate completed?

If your horse is sound and healthy and you are insuring him for $100,000 or less, in most cases a Veterinary Certificate is not required. If you are insuring your horse for more than $100,000, if your horse has an ongoing health condition, or if you apply for Full Loss of Use coverage, a Veterinary Certificate will be required. In some cases, if a horse becomes ill or injured during the policy, a veterinary certificate may be requested upon his renewal.

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14. What if my horse injures someone?

If your horse injures a third party or damages his property, you could be sued for the loss. Even if you were not at fault, you would still find it costly to defend yourself. Many horse owners already have coverage for their equestrian activities under their homeowner's policy, but they should ask their agent for written confirmation and make sure that coverage still applies when the horse is off the insured property (as for a trail ride, parade, horse show, etc.). Our Equine Personal Liability coverage offers limits of $300,000, $500,000, or $1 million, and is a low-cost way to obtain true peace of mind regarding unforeseen accidents, especially when this liability is not covered by your home owner's policy.

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15. How quickly can I get coverage?

To obtain mortality coverage, we require a completed application and a satisfactory Statement of Health for all horses (and a Foal Vet Certificate for foals under 30 days of age). Follow our links to obtain the correct forms for your horse. You may fax the required documents to us for instant binding of coverage, as long as you mail us the forms with payment within 48 hours of your fax. If the information you provide meets our underwriters' criteria, we will bind coverage immediately; payment by check must be included in the mail with your forms.

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16. What are my payment options?

Personal check or money order; payment plans are available, depending upon the premium amount. In addition, we accept payment on our website, but we do prefer checks.Please call us to confirm premium due and method of payment available to you before applying for coverage.

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17. The answers to the above questions have given me more questions.

As well they should. Please call us; we want to be sure that you choose the correct coverage for your needs, and have the peace of mind that comes from understanding your choices.

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For more information you may use the following email address:

General Information:
info@horseinsure.com

 


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"Jacobi Group is where I have been very happy to refer my clients over many years. I have found their rates fair, their knowledge of the equine industry and expertise way above average and the service and support is always there. With claims, Jacobi Group has always been very present and willing to work with the horse owner and is realistic in evaluating the claims (and we actually are able to discuss them, unlike with most other horse insurance agencies). For the last two decades, I have referred my clients to JacobiGroup, with the confidence of knowing, without a doubt, they and their horse will be protected and taken care of."

Janice H. Young, DVM Professional Equine Veterinary Dentistry 28248 N. Tatum Blvd. B1-613 Cave Creek, AZ 85331 602-867-3565


Contact the Jacobi Group
Phone: 1-800-355-4868
FAX: 1-928-649-3879
EMAIL: info@horseinsure.com
Postal Service:
1395 S. Bates Lane, Cottonwood, AZ 86326.



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