The CHIP SM
CUSTOMIZED HORSE INSURANCE POLICY
In the current economic climate horse owners are trying to save money and cut costs wherever possible, and mortality insurance tends to be one of the first overheads to suffer, even though during difficult financial times insuring your most valuable assets is even more important than ever.
In the past a client had only two coverage options: ‘All Risks’ mortality, which is the most expensive but also the broadest coverage option, and ‘Named Perils’ which is limited to rarer events such as barn fires or lightning strikes and comes at a much reduced price.
Equus/Standardbred Station through Markel Insurance is pleased to offer a third option, which offers the best of both, at a reduced price to ‘All Risks’ but providing more than the basic ‘Named Perils’ coverage. For a low cost additional premium, the basic coverage can be extended to include the two largest causes of loss: Colic and Fractures. The client can reduce their overheads (by as much as 50% from the full mortality premium) while still benefiting from protection from their two biggest risk factors, as well as the additional perils specified in the policy.
We are also offering package rates, allowing clients to purchase all of the additional extensions offered for their horses at a reduced price. A special Order Form has been created for this coverage, as well as a condensed Declaration of Health specific to the Colic Coverage Extension.
EXAMPLE: MARES THROUGH AGE 15
'Named Perils' + 'Colic' = 1.45%
MARE PACKAGE THROUGH AGE 15
'Named Perils' + 'Colic' + 'Accidental Injury Coverage' + 12 Month Extension Clause
+ $5,000 Colic Surgery Expense = 1.95% + $50
For further details about The CHIP please contact an Equus agent: Lynn Jones, Kathy Jones, Candace Jones, John David Christman, Terry Miller, Del Pearson, Nicole Gibson and George Hills.