0345 230 2323 | www.kbis.co.uk 0345 230 2323 | www.kbis.co.uk 5 4 An Introduction to Horse Insurance Insurance is like the airbags in your car, you hope that you will never need them, but when you do it is too late to change them if they do not work. It is therefore worth spending a little bit of time and effort to make sure that you buy the appropriate level and type of insurance at the outset. This booklet is designed to assist horse owners wishing to insure their horse with KBIS in understanding the various types of cover available and explain the significant factors affecting your policy both at inception or when making a claim. Please note this is a general guide and your specific cover is detailed in your policy documents. Other insurance providers will have different terms and conditions. You should always read your insurance documents carefully, whilst they can be lengthy, it is the only way to ensure that you have the cover you require. Please note that this document relates to our Competition and Leisure Horse policies only, cover under our High Value Sport Horse contract has different terms and conditions. Main types of cover options available. Mortality and Theft Insurance Veterinary Fee Cover Permanent Loss of Use Public Liability Mortality & Theft Insurance This covers the insured horse if it is killed, dies or has to be put down as a result of being in severe and unremitting pain which cannot be controlled by medication. In this situation your vet must advise that immediate euthanasia is necessary on welfare grounds. If the horse can be stabilised on medication the insurer must be advised prior to euthanasia so that the Underwriters vet can discuss the prognosis with the attending vet to determine if it meets the terms of the policy. The final decision to put the horse down is at the discretion of the owner, but for the insurer to agree a claim the criteria for either emergency or non-emergency euthanasia as defined in the policy terms and conditions have to be met. Cover in respect of theft of the horse is also included under this section. Sum Insured and Market Value – our policies pay out for the market value of the insured horse at the time of loss up to a maximum of the sum insured. At purchase it is easy to determine the current market value, this being what you have paid for your horse, but at renewal you should review the sum insured to reflect its current market value taking in to account age, performance, competition results and any conditions it may be suffering from. Important points for a mortality claim to be paid: > If your horse is euthanased it must meet the criteria detailed in the policy terms and conditions which are in line with the British Equine Veterinary Association guidelines for euthanasia of an insured horse. > If your horse is found dead or if it is euthanased it is essential that a post mortem is done by a veterinary surgeon including positive identification to its passport unless agreed otherwise by Underwriters. > It is your responsibility as the owner to ensure that the Terms and Conditions of the insurance policy are adhered to. > It is the insurer’s decision to pay a claim and it must be recognised that the decision to euthanase the animal may not automatically result in a claim payment. Not all insured horses are covered for death and insurers do not pay death claims for injury, illness or disease where clinical signs first manifest themselves prior to the start of cover.