Claiming loss of use for a comp horse, but keeping policy as a brood mare

[Puppy]

Very sadly my girl's ridden career is over. She is insured for a decent amount, including LOU cover, and we will undoubtedly be making a claim. However, I am wanting to put her in foal, and would like to continue the veterinary cover for both that, and any other injuries she may incur in her retirement.

I am also wondering what amount of her insured value I am likely to get. I believe I've heard people mention getting 80% of insured value before...(?) Will they take off her value as a brood mare? Policy is with NFU.

Does anyone have an experience of this sort of claim?

Thanks in advance. x

 

[ladyt25]

I don't know the individual NFU policy terms so depends if it's an either or (ie 100% or 75%) or whether you have 100% LOU in which case the insurer effectively can decide what % of sum insured you would be entitled to.

For instance our LOU cover is 100% or 60% if the horse still has some use so, in this case as a broomare you would automatically get 60% of her sum insured.

Essentially then this amount settled would be deducted from your current sum insured and your revised value for the horse would be the figure less the LOU settlement. However, insurers are NOT valuers so, in theory you can still insure the horse for the same amount it was previously if for example it is a valuable animal of good breeding and still would hold a market value as a broodmare. Some insurers will stipulate you can only insure it for a nominal sum after a LOU case, it depends on the insurer. Others will restrict your cover so you only have vets fees for injury for example.

We do not. A LOU claim is often due to a limb issue not an illness so there is no reason why the horse is more likely to suffer an illness than a sound horse.

It's all dependant on the insurer and their terms but NFU will pay a % of the value. What happens after that ie sum insured covers you will have to discuss with them.

 

[Puppy]

Very helpful, Thank you

 

[scally]

We claimed LOU on a showjumping mare, and received 60% of her value, we then insured her for the 40% left on the policy, so vets fees etc were covered, although not all breeding fees and injuries are covered, so check your policy carefully and especially the exclusions they will then enforce as it may not be worth insuring her, as they will certainly exclude any illness or injury that is related or can be related to the current illness. Also by claiming LOU you will not be able to claim anymore vet fees with regards to the injury you are claiming for at present. There is also a lot of hoops to jump through to get LOU so be prepared for that.

After 2 foals, she returned to work fully sound we had to pay back the insurance company IIRC about 50% of what they had paid us, to fully insure her for her full amount again, obviously with an exclusion on her policy for the original injury that caused LOU, this was all with NFU who were excellent, and gave good advise all the way through her history.