Loss of Use I coverage provides that in the event your horse suffers a sudden, external, accidental means injury, and subsequently becomes totally and permanently unfit for the use stated in the declarations as a result of such injury; and humane destruction is not warranted, you will be paid up to 50% of the amount of indemnity due under the mortality coverage part.
If a Loss of Use claim is still pending on the renewal date, coverage for this endorsement will be extended for 120 days beyond the policy expiration date. In the event a Loss of Use claim is paid, you will retain ownership of the horse, but all insurance coverage for that horse will terminate. Premium for all coverages will be considered fully earned (unless contradicted by a state endorsement). The effective date of the cancellation will be the date the proof of loss is filed. Major Medical is required when purchasing Loss of Use coverage.
This coverage description is for general information only. Please refer to actual policy wordings for a full explanation of coverages.