In the past I’ve seen posts where people ask if they can insure their reptile collections. I have always heard that Lloyds was the only avenue available. I was able to get an example of costs, so I thought I would share!
For example… to insure a collection of boas/pythons in the amount of $300K for Mortality and Theft coverage, with an annual aggregate deductible of $10K, the yearly premium would be approximately $12K. Lower deductibles increase the annual premium cost and higher deductibles lower it. With a 1% deductible ($30K) the yearly premium drops to approximately $5K.
The example above is just that… an example. Lloyds evaluates each collection on a case by case basis. The application for the insurance is very thorough asking for the type, age/hatch date, breeder, markings, etc. of each animal. It also asks for detailed information about their security, caging and health. Obviously this is something made for people with large collections and in general may not be cost effective for someone with only a few snakes. I just thought this was interesting!
-April
