After Auction Keep Cover
This product has to be taken in conjunction with the annual Life Cover (formerly known as Mortality Cover).
This is a fall of hammer product where Kuda will insure the horse on an annual basis for the purchase price at the auction.
As we know, training, spelling, pre-training and other horse related costs can be quite substantial. In the unfortunate event that your horse should perish, choosing this cover at auction allows you the benefit of receiving R12,500 per month (minus earnings) as additional protection.
This product was developed as a result of an incident that occurred where a horse was purchased at a sale. He then spent his time in training, but sadly had to be put down due to unfortunate circumstances. There was nothing available in the market that covered the owner for their costs incurred over the year and before the horse had a chance to race.
Now we have the AFTER AUCTION UPKEEP COVER product for events just like this. Choosing this cover at auction allows you the benefit of receiving R12,500 per month (minus earnings) as additional protection.
The maximum benefit that can be paid out per month is R12 500.00 including VAT.
Kuda would need proof of the monthly expenses in order to qualify as a claim (example: trainer’s monthly fees, spelling pre-training bills)
Additional premium to be paid in order to have the benefits of this cover:
R2 950.00 per annum
R250 .00 per month
Terms and Conditions: Claims is subject to checking and validation by underwriting. Physical proof of monthly costs incurred would need to be submitted. Cover will only apply to shares that have taken the cover and the R12,500 will be proportioned down to the share percentage owned.