COVERAGE DESCRIPTION AND UNDERWRITING GUIDELINES:
*Click here to download a printable PDF of the following information
Coverage Descriptions and Underwriting Guidelines (.pdf)
The Full Mortality policy is an all risks policy which covers for death as a result of accident, illness, injury or humane destruction and transportation anywhere in the continental U.S. or Canada, and also includes loss or death as a result of theft.
Named Perils Coverage is available to alpacas/llamas of any age; this policy provides coverage for death as a result of specific named causes such as fire and lightning also includes transportation.
Insured value is initially based on the actual purchase price of an animal; however, the animal’s insured value can be adjusted (increased/decreased) according to its achievements and/or breeding capacity and/or productivity.
Underwriting Guidelines
Insurance can be placed upon our receipt of a completed “Alpaca Mortality Insurance Application and Declaration of Health” by the animal’s owner for healthy animals that are to be insured for less than $30,000.
If the following should apply then it will be necessary to provide a current Veterinary Certificate of Examination for underwriters to review and approve.
· Animal’s insured Value exceeds $30,000
· Animal has been ill or injured and/or has been treated by a veterinarian for an illness or injury in the past 12 months
· Animal is less than 90 days old
· Animal is more than 13 years old
WHAT HAPPENS IN THE EVENT OF LOSS
We all agree that it’s in everyone’s best interest for our animals to survive and be productive but unfortunately an occasional loss does occur. As such we hope that the following details will be helpful.
It is imperative that our office be contacted as quickly as possible if an animal becomes ill, injured or is deceased.
When we receive a report of a claim or potential claim we contact an independent adjuster. The adjuster then contacts you and the attending veterinarian for details.
If the animal should be deceased the insured will receive a Livestock Proof of Loss and Release from the adjuster that must be completed with notarized signature(s) and original returned to the adjuster.
The company also requires that any deceased animal be autopsied and in certain instances tissues samples will sent to a diagnostic lab to help determine the actual cause of death. This is done not only for the company’s benefit, but also for the insured since the cause of death might be a condition that could affect other animals in a herd.
Upon receipt of the requested documents from the insured and veterinarian and/or state lab the adjuster will present his/her findings and recommendations to the company. The company then issues a check to the insured(s) which is mailed to our agency and forwarded to the client.
The claim settlement process normally takes 4 – 6 weeks from date of loss to insured’s receipt of claim settlement.
NEW BUSINESS
Insured values of $30,000.00 or less and more than 90 days old. Coverage can be bound with a completed and signed "Application & Declaration of Health" in lieu of a Veterinarian Certificate of Examination
Insured values of greater than $30,000.00 or less than 90 days old or any animal that has been treated for an illness or injury in the previous 12 months. Requires a completed "Application" and "Veterinarian Certificate of Examination." This is the front and back of the long forms.
RENEWAL BUSINESS
Insured values up to $30,000 can be insured using a Declaration of Health (even if they were previously insured with another company).
Please, give us a call at 800-627-4677 or contact us via email. We look forward to hearing from you.