TYPES OF INSURANCE FOR RACEHORSES
BLOODSTOCK MORTALITY INSURANCE
Bloodstock mortality insurance is the most common type of insurance purchased by horse owners.
Mortality coverage is similar to human life insurance and is for the value of the horse, should it die. The policy will cover the horse for its percentage share of sum insured, which is determined by its original purchase price, training, and performance records.
Premiums range is dependent on the age, gender and current career your racehorse is performing in. We will cover a racehorse from foetus all the way through its training and racing career, furthermore extended to broodmares and stallions.
Bloodstock mortality insurance policies also cover humane destruction of the animal in cases of mortal injury or disease.
LIFESAVING SURGERY & CRITICAL CARE COVER
Lifesaving surgery insurance is another type of insurance to consider.
If the standard Lifesaving Surgery option is taken, 15% of your sum insured amount will contribute towards any lifesaving emergency surgery or treatment in-hospital (e.g. R100 000.00 sum insured = R15 000.00 cover).
If the Top-Up option is taken, any in-hospital emergency lifesaving surgery required to save the life of the horse is covered to the maximum value of R100 000 or up to 7 days in hospital per an event, whichever comes first.
It is very important to note that the amount of cover provided differs significantly between different providers. “Per event” means that this could happen more than once during a 12 month period and your horse would be covered each and every time.
PUBLIC LIABILITY INSURANCE
If your horse kicks or bites someone and you want to avoid paying high litigation costs, you may consider obtaining Public liability insurance. This type of insurance protects you should your horse cause damage or injury to a member of the public or property. This does not include damages to persons or property directly related or associated with the day-to-day care, training or functioning of the horse (e.g. groom, jockey, owner etc.).
This option provides R1 000 000.00 cover per event. “Per event” means that this could happen more than once during a 12 month period and your horse would be covered each and every time.
MEDICAL CARE COVER
This product is an extension of procedures we will cover as per the below specified list of diseases, ailments and procedures we will cover. This product covers up to R100 0000.00 per annum as per the specified breakdown of costs.
Please note that the intention of the product is not to cover day-to-day veterinary costs, and could be compared to a hospital plan rather than a medical aid.