More About Broodmare Insurance
If you have Broodmare Insurance, you will receive compensation if the mare dies as a result of an accident or illness, if immediate euthanasia is recommended by a veterinarian or if the mare is lost and not found within 4 months despite a search. Compensation will also be paid if a mare is ruled unusable for breeding, following an illness or accident. Full compensation for loss of use will be paid if the mare is euthanized, while a partial compensation will be paid if it is decided that the mare should live. Compensation of 10% of the mare‘s life insurance amount is paid for a prospective foal and foal, younger than 30 days old, if the mare is between 3 and 18 years old.
- Period of purchase: When a mare is 3-15 years old.
- Insurance amount: The insurance amount of limited life insurance is an optional amount. It is good to keep in mind that the compensation can never exceed the market value of the mare as it stands on the day of the accident. The insurance amount of the loss of use insurance is the same as the life insurance amount, less ISK 100,000. The insurance amount of the prospective foal and foal insurance is 10% of the mare's life insurance amount. The insurance amounts are stated on the quote, the insurance policy, and the renewal receipt. The insurance amounts will remain unchanged until the mare reaches the age of 19 years, after which they will decrease by 20% annually.
- Duration: Once the mare reaches the age of 23, the insurance is cancelled and will not be renewed.
You can get a quote online. If the insurance amount exceeds ISK 1,000,000 it is necessary to include a certificate from a veterinarian about the general health of the horse. The certificate must be less than 30 days old and the veterinarian must prepare the certificate on a form provided by VIS. You can attach the certificate to the quote request or send it to firstname.lastname@example.org.
Included in the Insurance
Limited Horse Life Insurance
Limited Horse Life Insurance is a good insurance policy for anyone who owns a horse for recreation purposes. If you have this insurance, you will receive compensation if the horse dies as a result of an accident or illness, if immediate euthanasia is recommended by a veterinarian or if the horse is lost and is not found within 4 months despite a search.
Loss of Use for Breeding Insurance
Loss of Use for Breeding Insurance is included in the Broodmare Insurance. If you have Broodmare Insurance, you will receive compensation if the mare is declared unfit for breeding following an illness or accident. Full compensation for loss of use will be paid if the mare is euthanized, while a partial compensation will be paid if it is decided that the mare should live.
Prospective Foal and Foal Insurance
Prospective Foal and Foal Insurance is included in Broodmare Insurance and is valid until the foal is 30 days old.
If you have Broodmare Insurance, you will receive compensation amounting to 10% of the life insurance amount of the mare for a prospective foal or foal if the mare is 3-18 years old.
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If you have Animal Insurance
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