All Risk Horse Mortality & Theft Coverage
Also called "Full Mortality"; this coverage reimburses you for death, theft, or humane destruction of a covered horse. Equine mortality policies are often made up of several "pieces" and not all companies' policies are comparable. It's not just the cost; it's the coverages and the differences that can be significant!
"The Markel Difference"
1. All Markel policies are agreed value, which provides you with the assurance of knowing the amount you
would collect in the event of a loss. Other companies' policies may state the most the company will pay
is the "fair market value or actual cash value" of the animal at the time of the loss. This gives you no
guarantee that the amount you have insured the horse for is the amount you will collect in the event of a
claim. Markel's policy states "the value shown on the attached schedule is the value agreed by us to be
the current market value of the animal".
2. All Markel policies include an automatic coverage extension, which allows you to add horses up to
$100,000 in value that you acquire through claiming races or at public auction, provided the animal is
between the age of 91 days and 15 years. As long as you report the acquisition to us within five days
and pay the additional premium due, you can add the horse without submitting any additional health
documentation. (This limit can be increased upon request and acceptance by underwriters.)
3. All Markel policies cover the horse while in the USA and/or Canada. This means that you can transport
your horse from farm to farm, farm to sales, or farm to racetrack without having to request additional
coverage for the transits.
4. When your horse is sick or injured during the policy period, but the policy has reached expiration, you
might think coverage will cease for this horse. Fortunately, all annual Markel policies have a ninety day
extension, which means we agree to extend our liability on the horses insured to cover death occurring
within ninety (90) days after the policy expiration as a result of any accident, illness, injury, disease or
disability occurring during the period of this policy. Should you renew your policy with Markel, you have
the option of choosing one of the optional extensions below.
Optional Endorsements to Mortality Coverage:
Endorsements, or amendments to the policy, are available to enhance the coverage available with the Mortality policy coverage.
Twelve Months Extension Endorsement extends our liability under the ninety day extension to cover death occurring within twelve (12) months after the policy expiration as a result of any accident, illness, injury, disease or disability occurring during the period of this policy. This endorsement is available for horses up to 17 years old at expiry of the policy, and is offered for no additional premium. Should you choose the Twelve Months Extension Endorsement, the following Guaranteed Renewal Endorsement is NOT available.
Guaranteed Renewal Endorsement is an alternative to the Twelve Months Extension. This endorsement provides you with the guarantee of one additional year of mortality coverage, with no increase in premium, and with no exclusion should the horse become ill or injured during the policy period. This endorsement is available for horses between the ages of 24 hours through 15 years, unless they have a pre-existing physical condition. Should you choose the Guaranteed Renewal Endorsement, the above Twelve Months Extension Endorsement is NOT available.
Emergency Colic Surgery Expense Endorsement is available for all horses age 30 days through 15 years of age with no prior history of colic. Unlike other companies, we offer this coverage on race horses and horses in race training. Markel offers a $5,000 limit of coverage per horse, per policy term. An additional premium will be payable. Please note that to purchase this endorsement, a Veterinary Certificate or Declaration of Health is required.
Wobbler Endorsement covers you in the event your horse is diagnosed with cervical vertebral instability, commonly known as "Wobbler Syndrome", which causes the animal to stumble or fall under manipulation, or worse. It is available on all horses with no previous evidence of the condition and at no additional premium.
NOTE: Actual coverages are subject to various terms, conditions and exclusions.
Full copies of wordings can be provided upon request.