Protecting your investments

Protecting your investments When is livestock insurance good for your program

by Karla Blackstock

If you raise goats, you know they can be challenging at times. There always seems to be another parasite or illness looming around the corner. Part of this is simply because the goat industry is much smaller than other livestock industries and the dollars spent on research has not been invested.

This can be frustrating, at best, when you have valuable animals or animals that have become more like pets than livestock. But just like other industries, you can take steps to help insure that your animal’s death is not a complete loss. Livestock mortality insurance may be just the answer you are looking for.

And while some animal mortality insurance polities will insure the full face-value of the animals, many high-value animals and breeding stock may be covered up to a certain dollar amount of percentage.

Joann Jones with Lipsey-Currie Insurance Associates,Inc. in San Angelo, Texas, said, “Some breeding animals can run upwards of $10,000-$12,000 and insurance companies just won’t insure the full value.”

However, she said, if your loss is after a hefty veterinary bill or other expense, it can help offset some of your out-ofpocket expenses.

Jones said that mortality insurance doesn’t cover injuries, but it does include putting animals down for humane reasons.

“Any time an animal has to be put down, your mortality insurance will cover it,” Jones said. pplying for livestock mortality insurance is like applying for most other insurances. Basic questions regarding the animal’s health will need to be asked. For Hartford insurance,

the agent and/or underwriter will need to know how the animal is being cared for, and if the animals has had previous diseases or infections. A veterinarian’s exam and signature is required for the health portion of the application.

Also of importance, is whether the animal will be kidding during the coverage and if the animal will be transported during the coverage time frame.

Additional questions such as the types of housing, fencing and management of the animals are important.

Each insurance company will have its own questions, maximum values and policies so doing your research on insurance companies in your local area is important.

Jones said her policies have a maximum value on any animal set at $1,500.00. This may seem low to many breeders who produce show stock; however, it can cover out-of-pocket veterinary expenses if the need arises.

It is also important to shop around to find out the overall cost so that you can determine whether the policy is good for your program. Policies range in cost, but average around $12 per hundred.

Insurance policies and companies are also unique in their coverage. Some will cover semen tanks and semen as long as you have insurance on a live animals. Other companies have no coverage for tanks. Be cautious as you shop around.

For those producers who haul livestock for other individuals , there is also insurance for cargo. For many insurance companies, livestock is treated the same as cargo. Transit insurance has a wide variety of coverages, ranging from limited to full-coverage of animals. Some companies base full-coverage on fair-market value, so do your research.

Protecting your bottom line is the most important reason to research livestock insurance policies. You might find that carrying a policy on your sow animals can protect your investments and give you the peace of mind you need.