Frequently Asked Questions
Get Answers to Your Questions
At EP Bishop Co., we understand that being involved as a horse owner represents a financial and emotional commitment. Horses can contract any number of illnesses and life-threatening diseases, and caring for a horse under these conditions can quickly become extremely costly. Equine mortality insurance protection from the EP Bishop Co. is specifically designed to protect your financial investment, and, at the same time, help you do a better job protecting and caring for your horse.
This literature on equine mortality insurance is intended to assist you with general descriptions of the Full Mortality and other horse related coverages available through the EP Bishop Co. It also offers the information you need to best determine which insurance is right for you and why. We ask that you please review exact policy wording for a thorough explanation of specific coverages.
A Full Mortality policy provides horse life insurance protection for your horse for a period of one year. Your horse can be insured for its’ fair market value or less. To get this figure we would use the purchase price or stud fee on a recently purchased animal. If you have owned the animal for some time and it has increased in value, you can support a request for an increase by providing show or training records.
Full Mortality Insurance can cover foals, stallions, mares, and geldings of any breed. It insures your horse against death due to an accident, injury, illness or disease. This includes humane destruction to relieve incurable and excessive suffering. This insurance includes theft and transportation protection. If your horse is valued at $100,000 or less and is 20 years old or younger, you may begin the application process by completing an application and submitting it to our office. For a horse valued over $100,000 or a horse between 24 hours and 31 days old we will, additionally, need a vet certificate included with the application.
The annual premium is determined by a rate from the EP Bishop Co. based upon value, breed, age, and use. $200 is the minimum premium. (Example: $8,000 X 3.5% = $280.00)
You can purchase one, two, three or all four of the major medical coverages (thereby increasing your limits). This is called stacking. Major medical coverage is an optional medical and surgical coverage that is added by endorsement to your Full Mortality policy. It is available to most horses from age 31 days through 20 years.
Just as people can be faced with unexpected medical bills, your horse, due to an injury or illness, may end up presenting you with an unforeseen financial burden. This coverage extends to include diagnostic testing and cutting edge treatments such as shockwave therapy, and IRAP and PRP therapies.
The Major Medical Insurance covers treatment for reasonable and customary charges performed by a licensed veterinarian necessitated by an accident, injury, illness, or disease. This coverage also provides protection for your horse should emergency surgery be needed. Under the Major Medical coverage you have between $10,000 to $35,000 per insured animal for emergency veterinarian care, or emergency surgery depending on the coverage(s) you choose. This coverage is subject to a $250.00 deductible per claim.
The cost per animal, per year is $375.00 for $10,000 in coverage and/or $475.00 for $15,000 in coverage. These two may be combined to provide $25,000 for $850.00.
If your horse needs to have surgery because of an illness or injury, the full cost of its’ surgery will be covered subject to a $250.00 deductible. The surgical policy will also pay a portion of the cost of the surgeon’s miscellaneous charges. These miscellaneous fees are normally for such things as anesthesia, hospitalization, x-rays and lab tests. This surgical insurance does not cover castration, operations for cosmetic purposes, aslicks, or for a condition that your horse had prior to the effective date of your policy. This insurance will pay 70% of reasonable and customary veterinary fees.
Your Equine Surgical Insurance will cost $150.00 per horse, per year. It covers necessary surgery, limited to a total cost of $10,000 including the operation fee and the surgeon’s miscellaneous charges.
(No pre-existing conditions are covered)
There is a $10,000 limit per horse with a $250.00 deductible per incident. There is 30% co-pay for reasonable and customary veterinary fees. Coverage exists for gastric ulcer treatments prescribed by a veterinarian as a follow-up to colic surgery. This will be covered for a maximum period of 60 treatment days. The cost of this coverage is $150.00 per horse per year.
It is an optional disability coverage that is added by endorsement to your Full Mortality policy, and the amount in claim payment is determined by you at the time of claim.
Loss of Use is a condition which does not necessitate destruction for humane reasons, but do to an accident, injury, illness or disease the horse is permanently disabled and cannot perform the functions as stated in the policy. This coverage provides a payment of 50% – 70% of your horse’s value under the Full Mortality policy.
Annual premiums are between 2.50% – 3.75% of the declared value of the Full Mortality policy.
Whether you are applying for Full or Limited Mortality coverage, we do our best to make the application process easy.
All that is required is that you complete your application accurately and include a veterinary exam, if required. Once we receive this application and certificate, we will review the information and issue a policy. Or, we may contact you first, in the event we have any concerns or questions about providing you with the proper coverage.
To make coverage even simpler and faster, so that you can rest easier, we will bind your Equine Full Mortality insurance by facsimile, if you instruct your veterinarian to call us to verify your animal’s health. We will not consider your policy bound until we receive your completed application and, if needed, a veterinary certificate, and any other necessary information that we may ask you to submit in order to approve your application.
Yes, EP Bishop Co. offers a variety of payment options.