can you transfer insurance to owner ?

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alfiesmum

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currently have a loan horse which i insure.
can the owner be transferred to the policy and me taken off?

horse has a condition which may or not need treatment later on (prob not) and he is therefore going back to owner. (insurance not informed yet as this is very new )
i found the issue and got the vet out but i dont want to continue the insurance in my name although owner said she would pay premium.

many thanks
 
I don't think this is possible, I think the owner would have to take out her own policy and therefore potentially declare whatever the condition is and accept she wouldn't be covered for it. I'd imagine this would be why she wants you to continue cover with her paying you, since I'd expect the horse to be covered then.

Of course I could be totally wrong but hopefully someone more knowledgeable will be along soon :)
 
i would cancel the insurance and let her get her own. If you loan again then have the horse owner insure the horse (afterall if the horse dies they get the money the horse is insured for?) and you pay them a share or all of it. that's what I did years ago and it worked, that way the owner can continue the insurance if the horse is returned. learning point for them really :(
 
No, you cannot transfer an insurance policy.

You are quite correct to cancel your policy, the owner would then need to apply in her own name.

Obviously unfortunate for her in so much as the current condition will be excluded from her policy but utlimately you cannot do anything about that :(
 
To be honest, as a good will gesture I would keep the insurance on in your name until the end of the policy period but ask the owner to pay the premium. The horse will only be covered for the condition for a year after diagnosis anyway.
 
CBfan - only potential issue with that is that you cannot issue what you do not have a legal interest in under UK insurance law. So as soon as the loan is terminated the OP ceases to have any legal interest in the horse and cannot continue the insurance.

Otherwise I would totally agree.
 
thanks, its a month to month policy anyway as it was only a 6 month loan that could be cancelled whenever i wanted .
i dont suppose she would have to declare anyway straight away lol, yes think i will have word and cancel it.
 
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