What is 'Breeder's Insurance Policy'

A breeder's insurance policy provides protection against damage, theft or loss of bred animals. It may also cover veterinary bills for animals in the event of illness or accident, as well as cover the loss in the event of the death of the animal.

BREAKING DOWN 'Breeder's Insurance Policy'

Like all other businesses, breeding is often the livelihood of a family. A breeder's insurance policy protects dog breeders and livestock owners against the risks of loss commonly face in their business. It is for this reason that all assets must be fully insured under a sound breeder's insurance policy. Liability insurance is also a must-have for all business owners.

Different breeders require different types of policies to suit their needs – not all animals are in the same state, or have the same risks, of health. For a younger animal, which is fit and active, an option with a lesser premium might be more appropriate. An older pet might require a higher premium policy. 

Breeder insurance policies provide much help in paying for costly therapies, such as chemotherapy, surgery and drugs. With breeder insurance, owners can focus on doing what is best for their animals without wasting time to consider finances.

The emergence of deductibles and co-insurances allows breeders to customize their policies. As animals become older, the frequency of claims will increase. Some breeder insurance providers do give an option to increase deductibles. Approved treatment costs could also lower the whole treatment amount, to some extent.

Typical Coverages of Breeder's Insurance Policies

  • Veterinary fees: Pays for the costs of veterinary treatments needed to treat illness or injury. A desirable veterinary fee benefit will ideally provide lifelong cover. 
  • Third-party liability: This will pay for legal obligations and legal costs that the dog breeder may incur because of injury or damage caused by the dogs the breeder owns.
  • Fertility costs: Pays for treatments aimed at improving fertility. It may include payments for testing as well as treatment.
  • Pregnancy and birth: This provides for the cost for ensuring a dog's pregnancy and birth is safe and free from health complications. The aim is to ensure that the mother and the offspring are healthy for the entire process. The benefit may provide payments for caesarean sections.
  • Early stage care: This will help defray the cost of treatment to ensure that animals grow healthy and free from illnesses.
  • Equipment Insurance: This will pay for damage to equipment caused by natural disasters, such as storms, floods, oil or water spills, fire, explosion, theft, civil commotions or riots, aircraft or malicious damage. 
  • Death Benefit: This benefit pays a certain amount upon death of the animal.
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