QUESTION: Do you offer any options for off-track Thoroughbreds, or strictly ones that are active/potentially active in racing and breeding?
BRYCE BURTON: Full Mortality Insurance coverage, also known as All Risk Mortality coverage, is available for horse owners of all breeds, uses, and disciplines. As the name suggests, Full Mortality provides coverage on the animal for death due to any accident, illness, or condition. Whether you own a Thoroughbred racehorse or a Warmblood show jumper, there is a policy available in order for you, as a horse owner, to secure your equine assets. Off-track Thoroughbreds that are re-trained for their second careers are no exception to this. The Full Mortality policy rate that's provided will be subject to the horse's age, use, and value. The coverage will also be subject to either a veterinary certificate of a statement of health.
As you'd expect, the more risk that's involved with the horse's specific use or discipline will require a higher Full Mortality rate. Generally speaking, any use that involves jumping or hurdling is going to be higher than a use that does not. For example, if your OTTB is used for show, pleasure, or dressage, it will be less annual premium to insure than a show jumper, whose rate will be slightly higher. Rates are also quoted based on age, insured value, as well as other variables.
QUESTION: Is there a coverage option to protect the insured in the event that their horse is injured or falls ill and needs medical attention?
BRYCE BURTON: Major Medical coverage is an endorsement made to the Full Mortality policy, which covers you for the cost of medical care provided by a licensed veterinarian as necessitated by accident, illness, or injury. The endorsement covers you for non-elective procedures and diagnostic testing. Any testing used to identify the cause or nature of an accident, illness, injury, disease and/or disability, including but not limited to flexion tests, hoof testing, nerve blocks, bone scans, MRI, CT Scans, radiographs, ultrasounds, myelograms, gastroscopies, arthroscopies, and laboratory tests are included. There are multiple Limit/Deductible options, with varying premium amounts, beneath this section of the policy for the insured to choose from. Major Medical is not available on racehorses.
Bryce Burton is a property and liability specialist for Muirfield Insurance. He is from Frankfort, Ky., where he grew up an avid race fan. His Thoroughbred racing fandom combined with a collegiate internship in the insurance industry, culminated in a start in the equine insurance field. Bryce has been with Muirfield Insurance since 2014, following his graduation from Transylvania University in Lexington. \
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