Bloodstock Insurance – Eligibility
Minimum policy eligibility criteria are as follows:
- Minimum age – 24 hours
- Maximum age – 18 years (older horses by insurer approval)
- Policyholder must be domiciled in the United Kingdom
KBIS has been providing Bloodstock Insurance since 1984 when the company first began trading. Our specialist bloodstock policy provides cover for flat and jump racehorses, including point to point horses, as well as Thoroughbred breeding stock and stallions.
“Insure your foal from day one under our prospective foal cover.”
Our team consists of highly experienced individuals who have been recruited from the equestrian industry so you will always be able to speak to someone knowledgeable about your bloodstock insurance requirements. In addition, KBIS can also provide racehorse owners liability insurance. A policy covering public liability for racehorses means that you, as an owner, do not need to worry should your horse injure a third party or damage their property. You can find out more about our liability cover here
Minimum policy eligibility criteria are as follows:
The policy provides cover for ‘All Risks of Mortality’. This means that you will be able to claim under your bloodstock insurance policy if the horse dies, is killed or has to be put down immediately on humane grounds by a vet, as a result of an accident, injury, illness or disease as per the terms of the policy. Cover for theft is also included and underwriters will pay up to the sum insured for the fair market value of the horse.
In addition, we are able to provide extensions to the cover, subject to underwriters agreement. The extensions to cover available are:
Provides cover should the horse colic and has to be operated on by your veterinary surgeon (limits apply)
Covers total permanent infertility or inability to serve mares.
Prospective Foal Cover
Offers protection for the foetus in the mare from 45 days post last mating until 30 days after birth.
There may be a number of documentary and/or veterinary requirements that you must satisfy at the beginning of your policy. These requests vary based on the market value of the horse and cover purchased.
The table below outlines the general requirements that you will need to satisfy, please note that underwriters may attach additional requirements to a policy depending on the coverage required and the risk presented.
Values up to £25,000
Completed proposal form and declaration of health to be signed by the trainer (horses not in training declaration to be signed by owner/carer)
Values £25,001 to £150,000
Completed proposal form and a minimum 2 stage vet certificate. If the horse is in training then in addition a declaration of health to be signed by the trainer.
Values over £150,000
Requirements will be stipulated upon quotation.
Foals 24 hours to 45 days
Completed proposal form, Underwriters vet certificate and IGG levels
Foals 46 to 90 days
Completed proposal form and mortality vet certificate.
Insurance Product Information Document (IPID)
The IPID outlines the significant features, benefits, exclusions and limitations of the KBIS Bloodstock insurance policy. They do not contain the full terms and conditions.
Terms and Conditions
The Terms and Conditions outline the full details of cover of the KBIS Bloodstock insurance policy.
Terms of Business
The Terms of Business outline the agreement between KBIS and their customers.
Should you need to make a claim on your policy it is important that you notify KBIS as soon as possible.
The following guide outlines the claim notification process. You should refer to your policy Terms and Conditions to ensure that you comply in full with the requirements of your policy as failure to do so may prejudice your position with the insurer.
1. Initial notification
Contact KBIS as soon as possible. You can contact KBIS by:
UK Telephone No: 0345 345 2323
Outside UK: +44 (0) 1635 247474
2. Obtain a Claim Form
Download a Bloodstock Mortality Claim Form.
If you have contacted our offices we can arrange for a form to be sent by post, including a free post envelope for the return of your form and documentation
3. Collate all necessary information
In order for us to process your claim in the most efficient manner it is important that we have all of the relevant documentation, as requested, to enable us and the underwriters to consider the claim in its entirety.
4. Send the completed claim form and documentation to KBIS
Please note that we are unable to give any indication whether a claim is likely to be paid without the completed claim form and invoices.
The KBIS bloodstock policy includes cover for Western Europe, including transit. If your horse is going further afield, such as the United States of America or Dubai then you will need to get an extension to the policy in order to cover the horse while they are away. To do this you will need to contact KBIS prior to the horse’s departure, ideally at least a week before, although cover can usually be arranged with up to 48 hours notice. There will be an additional premium to pay that will be largely dependent on the length of stay.
Our bloodstock policy is a 12-month policy but it is possible to cancel the insurance policy on a short rate basis, the full details of which are outlined in the policy terms and condition. As an example, if you choose to cancel your policy after 4 months on cover you will only receive a return premium equivalent to 50% of the full annual premium, assuming that you paid for your policy in full.
Policies that have been taken out to cover a specific risk are not refundable after the event.
In addition, if any claim has been settled on the policy then there would be no return in premium.
Under the policy, you can claim up to a maximum of £4,000 (but not exceeding the sum insured of the horse) for any surgical procedures performed as a result of gastro-intestinal disorders. It will also cover any after-care costs whilst the horse has to stay at the veterinary centre where the surgery was carried out.
It is important to note though that any payment made under this section will subsequently be deducted from any mortality claim paid at a later date, whether or not the mortality is related to the gastro-intestinal surgery.
It is normal practice to consider not only the stud fee but also the breeding lines of the mare in order to come up with a realistic ‘estimated value of the foal.’ It is this figure that you would normally choose to insure against.
The cost of prospective foal insurance directly relates to the sum insured, as such, the policy may be expensive for valuable foals. However, the cover provided is invaluable insofar that the foal is covered from the first scan right through to the point they are 30 days old.
To put this into context, most insurers will not provide cover for a foal, once born, until it is 24 hours old. In addition, the cover is likely to be limited to Accidental External Injuries only for a number of days meaning that the policyholder must bear some risk in the early days of the foal’s life.
Having to have a horse put to sleep is always a distressing time, however, due to the varying circumstances which can arise and lead to such a situation it is difficult to state a definitive answer. We do however have guidelines, which if followed should help to avoid further distress.
As a guide the British Equine Veterinary Association (BEVA) considers a horse to satisfy a claim under mortality insurance in the following circumstances:
“That the insured horse sustains an injury or manifests an illness or disease that is so severe as to warrant immediate destruction to relieve incurable and excessive pain and that no other options of treatment are available to that horse at that time. Where a horse is exhibiting signs of sever and unremitting pain that can no longer be managed so that no other options are available for treatment, then it is the veterinary surgeon’s responsibility to destroy the horse immediately.”
In all other cases, it is important that you contact KBIS in order for us to give our prior agreement to the horse being put to sleep. It is common practice for an insurer to appoint a consulting veterinary surgeon in such cases.
A post-mortem will be required unless a prior agreement with KBIS has been otherwise made. Where we have not requested a post-mortem the attending vet will have to positively identify the horse and confirm it has been destroyed.