Can you insure a horse before buying it?

[Jambarissa]

Getting one vetted later in the week. He'll be coming to me that day of he passes.

I'm sure I've read on here that people have insured them from making the offer. Also saw this recommended on a vets pre purchase page so that any issues that arrise at vetting aren't excluded.

I'd imagine most insurance policies have a 14 day cool off period so if the purchase doesn't go ahead you're not stuck with the policy.

Doesn't sound entirely above board to me Tbh. But if legal I'd go with it.

Thanks

 

[ycbm]

You can't insure a risk you don't have, and your risk doesn't start until you've bought the horse.
So you would need the receipt of sale back dated to the start of the insurance and it would technically be fraud.

It isn't the biggest fraud the insurance world has ever seen, but there is increased risk of illness (colic, exposure to new viruses, for example) from moving homes. I suspect the 14 day delay in covering illness is to prevent people from insuring horses which are already ill, though. So backdating a purchase receipt on a vetted horse isn't something I'd be calling Crimestoppers about.
.

 

[SO1]

If the value is 5k or more you need the vet certificate in order to insure with some companies. I got the quote and so the insurance was ready to go as soon as the horse passed the vetting I called insurance company paid for insurance and then straight afterwards paid for the horse.

14 days only covered accidents. I put him on individual turnout for 1st 14 days and then into the herd once that had passed.

 

[ihatework]

No you cannot insure a horse you haven’t purchased yet

 

[Abacus]

But you can insure a horse you don't own (I have done so for example with loan horses). As long as you answer all the questions honestly regarding ownership and where the horse lives I don't actually see why not.

I'm not talking about backdating the purchase price, which would be fraud.

 

[Red-1]

I have done, from when I have decided to buy. I have been upfront and honest with the company, they have been fine about it.

Mine have always been over 5K, so the policy isn't in force until the vet cert is sent, but it means the 14 day period where the horse is on accident only insurance is shorter once purchased.

One failed the vet and the policy was then cancelled. They were fine about it as I had explained why I was insuring before vetting and purchase.

The only advantage is the shorter period when they would not be covered for colic etc.

 

[dottylottie]

i insured mine from the day she passed the vetting, but didn’t pay until she was actually on the box coming home

 

[ILuvCowparsely]

Getting one vetted later in the week. He'll be coming to me that day of he passes.

I'm sure I've read on here that people have insured them from making the offer. Also saw this recommended on a vets pre purchase page so that any issues that arrise at vetting aren't excluded.

I'd imagine most insurance policies have a 14 day cool off period so if the purchase doesn't go ahead you're not stuck with the policy.

Doesn't sound entirely above board to me Tbh. But if legal I'd go with it.

Thanks

I have on a couple occasions insured before I pick them up as you have two weeks when you are not covered, so I prefer to leave them with seller but insure them so once they move they are fully insured, but never waste my money or get into a contract of insurance before I purchase.

 

[Spotherisk]

A friend of mine insured her new horse, and it dropped down dead when she was plaiting it in the stable for their first outing within the 14 day period. I can’t remember all the detail but I know she wasn’t paid out.

 

[criso]

I've usually started the process of insuring, getting quotes etc once I've paid the deposit and am waiting for the vetting. Once the vetting is passed I pay the balance and organise the insurance to start immediately.

 

[Sossigpoker]

What you need to do is arrange for a quote starting on the day of the vetting. Then if the horse isn't suitable I'm the vetting,.just don't go ahead with it. If it is suitable ,.then just call the insurer to accept the quote.
The horse will be covered from accidental injuries from there and for illnesses after 14 days.

 

[Red-1]

It doesn't waste money as you can cancel penalty free within 14 days, as long as you haven't claimed.

 

[Parrotperson]

You can't insure a risk you don't have, and your risk doesn't start until you've bought the horse.
So you would need the receipt of sale back dated to the start of the insurance and it would technically be fraud.



Out of interest you have to insure a house you're buying from exchange although technically you don't own it until completion. Do you know why? Always wondered.....

 

[Abacus]

I do. If something happens in the period between exchange and completion you are still obliged to buy it (or lose the 10% deposit). It could actually burn down in that time and you still have to buy it at the stated price. You can't guarantee that the previous owner had it insured or would make good any small issues between exchange and completion.

I do actually know someone who was buying a house and it flooded after exchange - cost a lot to repair and no, he hadn't sorted the insurance yet.

 

[criso]

I also wouldn't start till after the vetting as the vetting could reveal some non deal breakers that will be noted that may affect the insurance I take out or change the value of the horse meaning a requote.

 

[MidChristmasCrisis]

Technically I think I have…arranged for cover to start prior to payment and collection..maybe only by 24 hours though.

 

[SantaVera]

A friends horse was sold to the police to be a police horse. He did his training well and was a police horse for three or four years. Then he was brought back by her or maybe given to her. She told me he'd reared with his rider and they didn't want him anymore. 24 hours after being back on the yard he was away to hospital for a splint bone injury. He didn't appear lame. It was all insured including his rehabilitation but if it had happened before he'd been home a day he wouldn't have been insured. I was always very suspicious of this I think he had an injury before he came home and my friend buted him up to disguise it for a day,she was always claiming on house insurance for the slightest thing. It all sounded very suspicious to me.

 

[PinkvSantaboots]

A friend of mine insured her new horse, and it dropped down dead when she was plaiting it in the stable for their first outing within the 14 day period. I can’t remember all the detail but I know she wasn’t paid out.

That is unlucky

 

[jessss]

Petplan would insure mine once I had put a deposit down as I had 'insurable interest' but a lot of companies (I know NFU) won't

 

[Bernster]

I’ve set up insurance from the day of purchase. Got caught out as NFU wasn’t open on a Saturday but KBIS was and I sorted it out over the phone. Already had the vet cert which I had to send to them afterwards.

 

[nagblagger]

Did it pass the vet?

 

[blitznbobs]

The question remains why would you want to? Until the money has changed hands issues are not your problem, the vendor has the responsibility to deliver them in reasonable condition so if the ‘goods’ break prior to delivery its the owners problem

 

[Boulty]

You can’t insure something you don’t yet own. You CAN insure them from the date money changes hands but before they arrive with you (I chose to do this with fuzzball as was in middle of the equine flu pandemic and wanted him to have his 2nd vacc before shared load travel so he stayed where he was for a while)

 

[ycbm]

The question remains why would you want to? Until the money has changed hands issues are not your problem, the vendor has the responsibility to deliver them in reasonable condition so if the ‘goods’ break prior to delivery its the owners problem

Because illness isn't covered for the first 14 days of the policy.
.

 

[Lexi 123]

Any updates op

 

[Jambarissa]

Not vetted yet. Was cancelled due to weather but rearranged for Thursday.

I'm still thinking about insurance options. Over my life I've spent probably 20x as much on insurance as I've claimed.

Considering the Agria lifetime insurance for the first year then maybe just the Harry Hall insurance and self insure the rest.