SPORT HORSE FREQUENTLY ASKED QUESTIONS
HOW DO YOU DECIDE BETWEEN ALL THESE DIFFERENT INSURANCES?
Find a reputable insurance company and a good bloodstock insurance agent. This person will know the value of your horse and assess what types of insurance are needed. Make sure you have your agent explain the costs and benefits of each insurance policy, and get your price quotes and coverage information in writing. Also, talk with fellow horse owners, get agent and company references. Choose a company that understands your needs and can talk to you about your horse with insight and understanding.
HOW MUCH INSURANCE DOES YOUR HORSE NEED?
A rather sophisticated actuarial formula is used to calculate value and risks for bloodstock insurance. In principle, it operates much like human life insurance underwriting. Basically, an bloodstock insurance premium is based on the value of a horse. Other factors include the horse’s age and intended uses. Jumpers and eventers may be more costly to insure than dressage horses. Racehorses and reining horses can demand higher-ticket policies than trail horses. Speak to your insurance company about bespoke insurance for your particular situation specially if you are insuring a fair number of horses or horses of high value.Life saving surgery insurance protects the owner from massive surgical and hospitalisation expenses. If your horse should suddenly require colic or life-saving surgery, you would be relieved to have medical insurance available for these costly procedures.
HOW MUCH WILL IT COST TO INSURE YOUR HORSE?
The only way to get an accurate answer to this question is to fill out the appropriate form from an insurance company and request a quote. Premiums vary depending on the breed and age of the horse, its value, its use, etc. Extended coverages may be available for surgery & medical coverage, as well as loss of use, infertility, or named perils. Shorter term insurance is also available in special cases i.e. when a horse is being taken on trial, leased for a shorter term than a year, is in transit from one centre to another, etc.
WHAT IS THE OLDEST AGE AT WHICH I CAN INSURE MY HORSE?
(If you have a senior horse, you may have trouble finding major medical insurance. Many underwriters refuse to write policies on older horses. In fact, they may deny policy renewals for existing client horses, once those equines reach a certain age.)
Kuda: We will insure your horse up to the age of 18 years. However if the horse has been insured with us since an early age, we will not cease insurance upon reaching 18 years.
AT WHAT AGE CAN MY HORSE BE INSURED? CAN FOALS BE COVERED?
(Some companies have a minimum age at which young horses can be insured. Insurance premiums also vary at certain ages.)
Kuda: We are able to offer insurance from birth, in fact we will even insure the fetus prior to birth.
IF MY HORSE HAS BEEN TREATED FOR COLIC, CAN IT BE INSURED?
Kuda: Yes, we may be able to cover a horse that has been treated for colic based on a favourable vet report from the vet who treated the horse for the colic initially.
IF MY HORSE HAS REQUIRED COLIC SURGERY, CAN IT BE INSURED?
Kuda: Yes, we may be able to cover a horse that has had colic surgery based on a favourable vet report from the vet who performed the surgery.
IS MY HORSE COVERED DURING TRANSPORT?
Kuda: Yes, all local transit is included in the standard policy. We also offer cover for international transit and quarantine for both exit from and entry into South Africa where required.
CAN I GET LIFE SAVING SURGERY OR PUBLIC LIABILITY COVERAGES BY THEMSELVES?
Kuda: No, in order to qualify for these benefits, your horse must be insured for Mortality insurance as well. However, we are able to insure a horse for as low a value as R20 000 which could then be linked to the above two options.
ARE THERE ANY USES/DISCIPLINES WHICH DO NOT QUALIFY FOR COVERAGE?
Kuda: We have not yet come across a discipline that we are not prepared to insure.
WHAT DO I NEED TO DO TO GET IMMEDIATE INSURANCE COVERAGE FOR MY HORSE?
Kuda: There is no waiting period for your horse’s insurance. Once we have sent you a quote and you have accepted it and sent it back to us, your horse is covered. You then have a further 5 days to get all other paperwork and payment in place.
I PURCHASED MY HORSE A COUPLE OF YEARS AGO. NOW THAT I HAVE PUT SOME TRAINING INTO HIM, HOW DO I DETERMINE MY HORSE'S VALUE TODAY?
Kuda: The easiest way to determine this is to ask yourself what you would have to pay for another horse at the same level if you wished to replace your horse. We are able to assist you in estimating your horse’s value if necessary.
IS THERE A SPECIFIC TIME LIMIT FOR REPORTING A CLAIM UNDER MY POLICY?
Kuda: You need to notify us as soon as possible when a situation arises which will result in a claim. Thereafter you have 7 days to submit your claim to us.
HOW AM I PAID FOR MAJOR MEDICAL CLAIMS?
Kuda: We will either pay you and you can settle with the service provider or we will pay the service provider direct, it’s your choice.
HOW DO I MAKE A CLAIM?
Kuda: You fill in the claim form, send us a copy of the vet report relating to the claim, send us a copy of the bills related to the claim.
WHAT IF I NEED TO REPORT A CLAIM AFTER HOURS?
Kuda: That’s no problem at all, we are available 24/7 via cellphone to assist you!
WHAT KINDS OF QUESTIONS SHOULD I BE EXPECTED TO ANSWER WHEN I AM APPLYING FOR AN INSURANCE POLICY?
Kuda: Your horse’s name, age, disciplines for which it is used, value of your horse, history of any prior illness or injury.
WHAT WILL THE INSURANCE COMPANY REQUIRE FROM YOU?
- Bloodstock insurers, as a rule, require recent veterinary certificates and may also require confirmation of vaccinations before initiating coverage. They may ask for a vet to examine the horse and give it a pass of health and identification certificate.
- The company will also want to know the horse’s purchase price and date, age, gender, colour, breed if known, registration, the discipline/s of work he is doing, where the horse is kept, who is responsible for the horse, and all your personal identification, residence, contact and banking details if you are paying by monthly debit order.
MY 2 YEAR OLD COLT IS BEING TRANSPORTED TO MAURITIUS AND CURRENTLY IN QUARANTINE. WILL KUDA INSURE HIM DURING THIS PROCESS AND WHILE RESIDING IN A FOREIGN COUNTRY.
Yes. Kuda will insure your horse during travel, quarantine and while living in another country. We do however need to be alerted of his travel progress and a South African address provided for billing details. We also can provide transportation for your horse whether they are being imported or exported! Contact the Kuda office for further details.
MY YEARLING FILLY IS GOING ON AUCTION NEXT WEEK, CAN I INSURE HER UNTIL FOH? (FALL OF HAMMER). AND WHAT CAN YOU COVER?
Yes, Kuda does provide short term cover at a reasonable rate. We offer Mortality (death) cover and Lifesaving Surgery with Critical Care as well as Public Liability.
WHAT IS THE DIFFERENCE BETWEEN LIFESAVING SURGERY AND LIFESAVING SURGERY WITH CRITICAL CARE?
Lifesaving Surgery covers only if your horse has a lifesaving emergency in-hospital operation (e.g. colic operation). Lifesaving Surgery WITH Critical Care covers if your horse goes to hospital for a lifesaving emergency event whether or not he/she has an operation. In other words if you are insured for Lifesaving Surgery only, and your horse is admitted to an equine hospital/vet and does not have an operation, we unfortunately will not cover the claim. This is why we recommend taking the Lifesaving Surgery with Critical Care.
MY POLICY DOCUMENT ONLY SAYS CRITICAL CARE, BUT I THOUGHT I HAD LIFESAVING SURGERY AS WELL?
Not to worry, the Lifesaving Surgery is automatically included with the Critical Care.