Loss of Use Endorsement
This Loss of Use Endorsement adds separate Loss of Use coverage to an Equine Mortality – Broad Form policy. It is intended to provide an indemnity if a covered horse becomes totally and permanently unfit for the use shown in the Declarations due to a covered injury.
What’s Covered
Coverage applies when both your selected qualified veterinarian and the insurer’s selected qualified veterinarian agree the horse has become totally and permanently unfit for its declared use, and:
- The unfitness is the direct result of an injury that first occurs from the endorsement effective date through the end of the policy period; and
- The injury is reported during the policy period; and
- The horse is 12 years old or younger as of the endorsement effective date.
The endorsement can also apply if the horse becomes unfit within 120 days after the policy period ends, but only when the policy period is 365 days or longer (and subject to the endorsement’s timing limits).
What’s Not Covered
This endorsement excludes, among other things:
- Pre-existing accidents/injuries/lameness/physical disability/illness/disease that occurred or manifested before the endorsement effective date.
- Unfitness caused by or related to degenerative conditions, including navicular syndrome/changes, arthritis, or degenerative joint disease.
- Any unfitness arising out of or related to infertility or unfitness for breeding.
How Losses Are Paid
- The endorsement pays 50% of the agreed value of your ownership interest in the horse (as shown in the Declarations).
- If your actual ownership interest is less than what’s shown in the Declarations at the time of the injury, the agreed value is reduced proportionally, and the endorsement pays 50% of that reduced value.
- You retain your ownership interest in the horse after payment.
- If a Loss of Use claim is paid (unless otherwise provided), all other coverages/endorsements for that horse terminate, and the entire premium for that horse (including endorsement premiums) is considered fully earned and immediately due.
Loss of Use is available for show hunters, jumpers and dressage horses between the ages of 1 and 12 years with insured values between $100,000 and $500,000. Loss of Use must be purchased in conjunction with Full Mortality and Major Medical coverage.
Important: This summary is provided for convenience. Please refer to the actual policy wording for full details and exclusions.
- Great American Loss of Use Endorsement (EQU1032-1119)
Standard Mortality Policy and Automatic Coverages
Optional Coverages Available with Equine Mortality