P R O pop
quiz
THIS MONTH’S QUESTION:
What should horse owners know about exclusions with regard to their equine insurance policy? Donna Chopp-Parker
equine-ins.com donna@equine-ins.com
Equine Insurance – A Division of
Parker General Insurance @equineinsured Each issue, a new question is answered by an industry professional. Have a question you want answered? Send it to sarah@horseandstylemag.com
“The most important thing to know about exclusions is that they can be applied to a policy even though an owner has not submitted a claim. This is because most Equine Mortality and Major Medical policies are term polices, which means they only run for the annual term; a new policy starts every year. Anything that happened in the previous year (illness, injury, etc.) is now considered a pre-existing condition and is excluded, even if no claim was filed. While this may seem unfair, it is industry standard, so it is important to know. The good news is that the duration or extent of an exclusion can vary. For a medical colic or straightforward colic surgery, most insurance companies will review it one year from the date of the episode, and if there are no additional problems, will most likely remove it. However, if the horse had any resection (removal of intestine) or had multiple colic episodes, the exclusion will be permanent. Lameness exclusions operate differently, which is why it is important to be very specific with your insurer. Generally, if the lameness was something that compromised the anatomical structure and there is a likelihood that the horse will re-injure it (for instance, a torn suspensory ligament), the exclusion will remain. But, you should understand that the way the exclusion is listed affects your coverage.Your agent needs to work with you, your veterinarian and the insurance company to get the exclusion limited to the actual injury. This way you can ensure your exclusion lists the actual structure (right front suspensory, for example) as opposed to excluding the entire right front limb – resulting in far less coverage. Exclusions are not the end of the world! However, I recommend finding an agent (as opposed to an online quote) that has experience with both insurance and horses. Always remember to call them anytime your horse is sick or injured, and always read your policy – especially the exclusions!”
— D O N N A C H O P P - PA R K E R Parker Equine Insurance
14
· september/october
Photo © Jennifer Sofio-Hall