ester
Not slacking multitasking
I guess their business model is partly working on the basis that people are more likely to stay with them year on year if premiums aren't increasing.
Agria - anyone been refused a renewal due to over use??
- Thread starter Gotthebugagain
- Start date
Jambarissa
Well-Known Member
There is something in the T&C about excess and Co-insurance percentage being able to increase at renewal. Its not clear whether agria can raise it?
And whilst it says premiums won't go up just because you have claimed I'd say that is not the same as saying premiums can't go up because your horse is in poorer health than he was a year ago.
Then there is whether owners can afford their share of a large claim. A £5k claim would cost the owner more than £1500 isn't that what a lot of owners pay to avoid?
Are vets happy to take Agria? Mine want insurance paid direct to them so they know they'll be paid, in the above scenario they could miss out on 30% of the claim if the owners can't pay.
I like the idea of agria, I just don't think it's suitable for anyone who doesn't have enough cash to back up a large claim.
And whilst it says premiums won't go up just because you have claimed I'd say that is not the same as saying premiums can't go up because your horse is in poorer health than he was a year ago.
Then there is whether owners can afford their share of a large claim. A £5k claim would cost the owner more than £1500 isn't that what a lot of owners pay to avoid?
Are vets happy to take Agria? Mine want insurance paid direct to them so they know they'll be paid, in the above scenario they could miss out on 30% of the claim if the owners can't pay.
I like the idea of agria, I just don't think it's suitable for anyone who doesn't have enough cash to back up a large claim.
Jambarissa
Well-Known Member
Floofball
Well-Known Member
My friend, who insures through Agria, believes that you only pay the excess once per year no matter what you’re claiming for. Then 25% of the vet bills until the next insurance period. If the same condition needs further ongoing treatment the following year the excess will be paid again. I do know somebody else whose horse is a walking vet bill that uses Agria, they haven’t been refused renewal. If you need lots of veterinary attention, with the corresponding large bills, by the time you’ve paid the premium, yearly excess and 25% of the bills, the cover is not that cheap but conditions are not excluded so they will continue to pay out on them year on year so I believe. It is just a different business model/way of doing things.
ycbm
Overwhelmed
Edit, the answer below is wrong!
I think it's pretty clear from the example above that the excess is per claim not once per year and your friend might be in for a big shock.
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gunnergundog
Well-Known Member
maya2008
Well-Known Member
In the tiny writing above the example it says the fixed excess is applied once per period of insurance.
Which I clearly posted at the exact same time as the one above!
ycbm
Overwhelmed
Oops, didn't see it, sorry!
So if you've got ongoing treatment you pay the excess again on renewal, but only once per year. Got it.
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iknowmyvalue
Well-Known Member
That’s correct, but I found that it actually wasn’t that different. I’m saving approx £100 a month on the premium by being with them, so put that aside for the copayment/excess and it evens out a little. I was planning on having longer without a claim to save up for it, but that’s the risk you take. Luckily in my case I had the funds to pay it, as the 5k was spread over a couple of months.
My vets are happy to take them, but you have to pay your excess and copayment up front before the claim is submitted.
And as others have said, the excess is definitely once per policy period. I didn’t pay it for the second condition I claimed for, but did pay it for a continuation claim for the same condition after the renewal date.
iknowmyvalue
Well-Known Member
I think it’s just a different business model, think it’s likely to work out best for younger horses, so the savings pot has longer to build up, and then anything that comes up will be covered for life. I’m thinking along the lines of repeat arthramid/osphos/tildren, or omeprazole etc. Things that are expensive and often need to be repeated at various points of the horses life.
Though I suppose that’s the same argument for self insuring. You put aside what would go to insurance, and then use it for any bills. I guess it just takes longer to build up if you’re covering 100% of the bill rather than 30%
Though I suppose that’s the same argument for self insuring. You put aside what would go to insurance, and then use it for any bills. I guess it just takes longer to build up if you’re covering 100% of the bill rather than 30%
ycbm
Overwhelmed
The excess thing will be another way they are saving a lot of money. Roughly speaking, 50% of conditions that last over 6 months will be subject to the deduction of 2 excesses.
It's a very interesting business model. I would be very interested to know how a horse insured at, say, 14 is covered once it reaches 20, since they say it's a lifetime policy. It would, if that's true, be the only policy (???) paying out for a new hock arthritis diagnosis in a 20 year old.
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It's a very interesting business model. I would be very interested to know how a horse insured at, say, 14 is covered once it reaches 20, since they say it's a lifetime policy. It would, if that's true, be the only policy (???) paying out for a new hock arthritis diagnosis in a 20 year old.
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Compasses
Active Member
It is also based off the advice of the vets and the company I believe have the right to contact the vets and chat with them about whether they will pay. So I guess this would come under that.
cbmcts
Well-Known Member
It's the same model as dog and cat lifetime insurance policies - they carry on paying out no matter how old the animal is or what the diagnosis is but the premiums do rise and rise with age as do co pays. £300+ per month plus 20% co pay is not unusual for an older large dog. They cannot refuse to renew the policy unless there is fraud under financial regulators rules but there is no cap on premiums so I imagine they would ramp them up to stratospheric levels if they didn't want your business.
However, certainly in the dog and cat market, insurers are very aware that most owners will get another pet alongside or after they lose the insured one and will be looking for insurance so they look further than just the original claim(s). It's all about market share for them.
Back in 2007/08 PetPlan had an insurance policy for horses that covered 16-21 year olds for full vets fees on a new policy - I bought a 16 year old then and none of the other insurance companies would insure him for anything other than external injuries on a veteran policy. PetPlan did, it was about the same price as my younger horse's NFU policy, no co pay IIRC and within 2 years did pay out to near the 5K policy limit for navicular and DDFT treatment. He never came properly sound and was retired after that so I didn't renew so have no idea how long they carried on offering the policy but I know it was new to the market when I bought it.
maya2008
Well-Known Member
We had a dog policy. Started out at approx £50 a month when she was young and in the ‘likely to get injured’ age group. We cancelled it when she hit 14 and they wanted nearly £200 a month for a dog who had never had a claim, was entirely healthy and who could no longer be bothered to wander off and get herself into trouble. In the end she died of old age without any long term conditions or other vet bills beyond the end of life ones. I think they did very well out of us!
In terms of repeat business - my ex horse insurer now asks if you have had any horses die in your care in the last x years (5 I think). Presume it would raise the cost of the policy. So maybe they don’t actually want repeat business
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