Haris Ashley
Equine major medical insurance is a type of insurance coverage for horses that helps owners offset the potentially high costs of emergency veterinary care. It covers the cost of medical and surgical procedures, including diagnostics, in the event of an accident, illness, or disease. The cost of equine insurance policies varies depending on factors such as the age and value of the horse, with older horses typically requiring higher premiums. Equine major medical insurance can be added to an existing mortality policy, providing peace of mind for horse owners and ensuring the best possible care for their animals.
| Characteristics | Values |
|---|---|
| Coverage | Equine Major Medical Insurance covers the cost of medical and surgical procedures, including diagnostics and post-operative care expenses, for unforeseen medical care required as a result of an accident, illness, injury, or disease. It also covers hospitalization. |
| Additional Coverage | Loss of Use, Colic, Surgical, and Catastrophic coverage can be added to the policy. |
| Limits | Coverage limits vary across providers and can include $7,500, $10,000, and $15,000 limits. |
| Deductibles | Deductibles vary based on the coverage limit and the provider. For example, a $15,000 limit may have a $600 deductible, while a $7,500 limit may have a $425 deductible. Deductibles for gastric ulcer treatment are typically $2,500 per claim. |
| Reimbursement | Reimbursement rates vary but typically cover 80% of reasonable and customary fees for covered treatments. |
| Eligibility | Equine Major Medical Insurance is available for horses between 30 days and 20 years old. Horses valued above $25,000 may be eligible for enhanced coverage. |
| Cost | The cost of equine insurance policies depends on factors such as the age and value of the horse. Older horses may have higher premiums or may not be eligible for coverage. |
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What You'll Learn
Emergency veterinary care
Equine major medical insurance can help protect your horse in the event of an emergency, providing coverage for unforeseen veterinary care. This type of insurance is designed to reimburse you for a significant portion of veterinary fees, ensuring you can make decisions about your horse's health without being overwhelmed by financial concerns.
Major medical insurance covers emergency veterinary care, including diagnostic procedures and treatments for accidents, illnesses, injuries, and diseases. This can include a range of diagnostic tests, such as bloodwork, bone scans, MRIs, CT scans, myelograms, and thermography, which are typically covered at 50% of the major medical limit. It's important to note that pre-existing conditions or routine "wear and tear" may not be covered, and each insurance company has specific criteria for what is included.
In the case of an accident or injury, major medical insurance can provide crucial financial support for emergency treatments. This includes surgical procedures, with some policies offering surgical limits up to $10,000, $15,000, or even higher, depending on the insurer and the specific plan chosen. These limits are usually subject to a per-claim deductible, which can vary based on the coverage limit selected. For example, a $15,000 limit may carry a $600 deductible, while a $7,500 limit may have a $425 deductible.
In addition to surgical procedures, major medical insurance can also cover post-operative care expenses, ensuring your horse receives the necessary treatment during their recovery. This type of insurance also typically includes coverage for emergency veterinary care related to illnesses, such as colic, which can be life-threatening and require immediate attention.
Some insurers may also offer enhanced major medical coverage, providing additional benefits for horses valued at a certain amount or above a certain age. For example, enhanced coverage may increase the limits of certain treatments, such as gastric ulcer treatment, or offer expanded protection for specific medical conditions. It's important to carefully review the terms and conditions of any policy to understand the specific emergency veterinary care services covered and any exclusions or limitations that may apply.
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Surgical procedures
Equine major medical insurance covers surgical procedures necessitated by an accident, injury, or illness. It reimburses you for 80% of the reasonable and customary fees for covered treatments and surgeries, including post-operative care. The coverage is available for horses between 30 days and 20 years old, with some policies covering horses up to 16 years old. The horse's value must be above $15,000, and it cannot be used for racing.
The coverage includes a range of surgical procedures, such as gastric ulcer treatment, laser or shockwave therapy, regenerative therapeutics (IRAP, PRP, and stem cell treatments), and biphosphonate treatment (Tildren, Osphos, etc.). Diagnostic procedures such as endoscopy, bloodwork, bone scans, MRIs, CT scans, myelograms, and thermography are also covered at 50% of the major medical limit.
Surgical limits vary, with some policies offering up to $10,000, $15,000, or $7,500 limits, regardless of the insured mortality limit of the horse. Deductibles may range from $0 to $600 per claim, depending on the chosen limit and the insurance company.
It is important to note that equine major medical insurance does not cover routine or elective surgeries. It is designed to protect against unforeseen events and accidents. Additionally, pre-existing conditions may not be covered, and there may be exclusions for specific types of procedures or treatments.
Some insurance companies also offer surgical-only policies that reimburse for unexpected surgeries, but these policies do not cover room and board or routine veterinary care. These policies are limited in scope and may have specific requirements for eligibility.
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Diagnostic testing
Equine major medical insurance covers diagnostic testing, including bloodwork, bone scans, MRIs, CT scans, myelograms, and thermography. These diagnostic procedures are typically covered at 50% of the major medical limit. For example, if you have a $10,000 major medical limit, the insurance company will reimburse you for 50% of the cost of diagnostic testing, up to a maximum of $5,000.
In addition to standard diagnostic tests, more advanced procedures such as regenerative therapeutics, including IRAP, PRP, and stem cell treatments, are also covered by some equine major medical insurance policies. These treatments can be expensive, but insurance can provide significant financial assistance, covering up to $3,000 per separate claim.
It's important to note that diagnostic testing must be related to a covered condition or treatment under the policy. For example, if your horse is injured in an accident, the policy may cover diagnostic tests such as X-rays or ultrasounds to determine the extent of the injury. However, if the diagnostic testing is related to a pre-existing condition or an issue that is specifically excluded from the policy, it may not be covered.
Equine major medical insurance provides valuable peace of mind for horse owners, ensuring that they can access the necessary diagnostic procedures without financial burden to provide the best care for their horses.
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Lameness treatment
Equine major medical insurance can help cover the costs of treating lameness in horses, which is most commonly caused by a hoof abscess. The treatment of equine lameness is a complex subject, and the specific treatment plan will depend on the type and severity of the injury, as well as the financial capabilities of the owner.
Diagnostic testing, such as bloodwork, bone scans, and MRIs, can help determine the underlying cause of lameness. Treatment options may include conservative therapies such as rest, hand walking, and paddock rest for minor lameness cases. Anti-inflammatory medications may also be prescribed to manage pain and swelling, although these should not be used long-term as they can cause digestive issues. Joint injections or alternative therapies such as acupuncture, chiropractic adjustments, and massage may also be recommended.
For more severe cases, arthroscopic surgery may be necessary to repair joint surfaces, especially in athletic horses. Other surgical options include the use of implants or casting to improve stability and reduce movement at the fracture site. However, the cost of casting or surgical fixation can make this treatment option financially unattainable for some owners.
The recovery period for lameness will depend on the underlying cause and the specific treatment plan. A veterinarian should help develop a recovery plan that includes recommended daily exercise and any necessary lifestyle changes, such as stall rest during the initial stages of healing. It is important to gradually progress the horse's exercise routine to prevent re-injury and reduce the risk of arthritis later in the horse's life.
Equine major medical insurance can provide financial peace of mind by covering diagnostic testing, medical treatments, and surgical procedures related to lameness treatment, ensuring that horse owners can make decisions based on the best interests of their horse's health.
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Loss of use
Most insurance companies offer limits on Loss of Use coverage as a percentage of the Full Mortality insurance value. For example, if your horse is insured for $10,000, your Loss of Use limit might be $5,000 or $6,000, depending on the insurance company. Some companies will pay out 50% of the Full Mortality value, while others may offer 60%. It is important to note that some insurance companies' policies state that when they pay a Loss of Use claim, they become the owner of the horse. However, some companies may allow you to keep the horse if you agree to a lower claim payment amount.
To qualify for Loss of Use Insurance, a horse must typically be between 3 and 12 years old, with a minimum insured value of $25,000. Clean radiographs must be furnished before this coverage will be considered, and a veterinarian exam is usually required, including x-rays of the front feet and hocks. Additionally, Major Medical coverage is also required with Equine Loss of Use Insurance.
It is important to note that Loss of Use claims usually involve discussions between the owner's veterinarian and a veterinarian acting on behalf of the insurance company. Both parties must agree that the horse will never be able to participate in the insured activity before a claim is settled. This may take time, and payment under this benefit can be expected to take several months. Most insurers will allow up to a maximum of 12 months from the date of the first clinical signs of illness or injury to submit a claim. However, it is recommended to advise the insurance company as soon as Loss of Use is a possibility.
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Frequently asked questions
Equine major medical insurance covers the cost of medical and surgical procedures, including diagnostics, that are required as a result of an accident, illness, or disease. This can include gastric ulcer treatment, lameness, and stem-cell therapy.
Surgical insurance only covers the costs associated with surgery, whereas major medical insurance is a full-coverage insurance policy that covers emergency veterinary care.
Full loss of use is an additional coverage that can be added to an equine insurance policy. It insures your investment if your horse becomes permanently unable to perform due to illness, disease, injury, or accident.
