Claiming loss of use

[MagicMelon]

I'm looking at probably having to claim loss of use for my grey. Can anyone advise what happens? Im with SEIB. Wondering how long it would take for them to pay out? And also wondering how much I'll realistically get - the vet said he would advise he's not even ok enough for hacking so he'll be a field ornament therefore I assume I'll get the full amount I insured him for (or very close)? Once they have paid out, I assume its still done to have to have him freezemarked with that horrid "L"? I'm dreading that to be honest! He's pure white nowadays thought so I dont really see how it'll be visible... Would SEIB pay for this (and sedation etc.)?

 

[Surreydeb]

When I claimed many years ago I got her insured value less carcass value as I wanted to keep her alive

 

[YasandCrystal]

Sorry to hear that. I got LOU on my WB - he has chronic SI dysfunction likely from an injury he must have sustained as a youngster.

Due to a very poor prognosis on any future ridden work and the fact he is a gelding I got the maximum which is 80% of his insured value. Insurers only pay 100% for pts. It took several months to go through and I was armed fully for a fight over his value with around 50 horses adverts of horses with his breeding Sandro HIt sire/grandsire, but the valuer did not quibble and they were not needed. I was with NFU.

As for the L freezemark - that was a nightmare as my horse had been 'turned away' and he was then very hard to handle. They will only pay out when it's done and YES I would recommend sedation as we had to twitch in the end. It's 2 irons a circle and an L and they are held on for ages. That said mine have not taken which is nice Not that my boy is ever going anywhere!

I was also offered to reinsure for a nominal value of £1,250 and a whopping £660 pa, but I declined. Noone else will insure him though, so at the moment I am taking the risk.
Good luck

 

[MagicMelon]

I definately intend to keep my grey alive, he's not lame enough to be put down. So what is "carcass value", like £500?

 

[YasandCrystal]

I definately intend to keep my grey alive, he's not lame enough to be put down. So what is "carcass value", like £500?

Check your policy I doubt they will pay out more than 80% of insured value for a non rideable horse. NFU are usually quite generous on these matters compared to other insurers and that is their max.

 

[MrsMozart]

Sorry to read of your lad's issues OP.

I claimed for LOU from NFU for my DWB. Thanks to bony irregularities on her pelvis she will never do what I bought her to do (showjumping/3DE). I got 80% of her market value (valued at what I'd paid for her). It went on for some months and brought up all the angst around lost dreams etc. I dreaded the freezemark, but once done it was okay. She's freezemarked anyway and this extra one is now just part of her, I don't really notice it any more.

 

[Gleeful Imp]

Ditto the 80% rule, and I'm with nfu also. My claim took 2 weeks start to finish, when the loss adjuster rang he said the X-rays made it a very clear case, and he needed to talk to me about my lad in terms of what I did with him. By the time I finished he was almost as gutted for me as I was!

The L didn't bother me so much, my heart was already broken

 

[fizzer]

My friend paid £6500 for her comp horse and got £2500 last week for her LOU.

 

[Goldenstar]

I have a LOU horse here he was given to me he's freeze marked and has an L ( which failed so it not visible at all ).
The owner got 80% of insured value ( a large sum ) then handed the horse on to me two specialist vets examined the horse and wrote the report for the insurance company who paid for the horses transport to an centre of excellence for the issue he had examination.
Your policy will tell you you how much is the percentage is.
This was a very cut and dried case , quite expensive horse five stage vetting twelve weeks earlier then vetted again when he expectedly needed to be sold and it came up on the that vetting.
I was surprised how easy it all was .

 

[smellsofhorse]

I think you won't get full amount even if horse is just out at grass as a pet.

But Im no expert.

I can't afford to have lou on my insurance any more!

 

[pip6]

I opted not to take LOU on my grey horse as they will do a BALD mark, not the standard freezemark. That is they hold it on for longer so the hairs will no longer produce hair & the skin will show through. I am very anti these (but not freezemarking), as I had a grey pony with a baldmark. Every summer she used to suffer with it, despite copious suncream over it. It used to burn, then weep which attracted the flies (was before fly rugs). Okay you could use a rug now, but seeing the discomfort it caused her despite our best attempts means I'd never bald mark a horse now (would rather loose the money, but then my horses aren't the most expensive...).

 

[christine48]

Just be aware some companies take the horse when full loss of use is paid out. This happened twice to someone I know. One was insured for a lot of money and the insurance company were hoping to get it to come right.

 

[Gingerwitch]

When I read heart wrenching stories like these i just thank my lucky stars we don't inusre any of ours. They get every treatment they need, we don't ever skimp but when I hear of the heart ache sorting out paper work at an already traumatic time - I just think it is awful.

Sorry to hear about your horse MM.

 

[MrsMozart]

I admit to being in tears a couple of times, when trying to get through the process. I did wish I hadn't started it.

 

[Gingerwitch]

Just be aware some companies take the horse when full loss of use is paid out. This happened twice to someone I know. One was insured for a lot of money and the insurance company were hoping to get it to come right.

How awful !

I would have forgone the money to keep mine - but mine are pets first and foremost - and not everyone is as lucky to have a hubby like mine.

 

[MagicMelon]

These posts have made me rather more depressed now! Im seriously dreading the freeze mark now (or "bald" mark) especially as my grey does have sensitive skin anyway. He's meant to be branded in 2 places but Ive never been able to see them. I just feel its pointless doing this freezemark thing if often they dont show up in the end! Why not microchip and make it show up on that somehow?

Im also gutted I'll probably only get 80%, what on earth is the point in putting the figure I put on him (which was already well below what he was actually worth). He's not worth 20% of what I put on him as a field ornament!

His insurance has just run out and Im not re-insuring. They'd have stopped covering both hind legs anyway (why, when its only one hind leg tendon?!). I dont insure my other horses, but did this one as he was worth a bit and I always figured Id need his money if he broke to buy a new one. Turns out Ive been gifted my new horse, however I have moved to a new house and need the money to help cover the rest of my greys life (ha, wont go far!) and also build them new stables!

 

[MagicMelon]

Just be aware some companies take the horse when full loss of use is paid out. This happened twice to someone I know. One was insured for a lot of money and the insurance company were hoping to get it to come right.

What?!?! I really hope you're kidding!! Surely thats not legal?! That would then be loss of horse as they're taking it away. I would absolutely not allow anyone to remove my horse, no way.

 

[FfionWinnie]

A shoulder mark would be less exposed than on the back. LoU is a scam I fear. I have it on new mare but as she is valuable as a potential broodmare I fear I'd get nothing (which is not fair as I didn't buy her as a brood mare!) and planning to cancel it after this year is up.

Poor you

 

[christine48]

What?!?! I really hope you're kidding!! Surely thats not legal?! That would then be loss of horse as they're taking it away. I would absolutely not allow anyone to remove my horse, no way.

Definately not kidding. One was a dressage horse which ended up at a college for students to ride. The other was only 5 who knows where he is now.

 

[Puppy]

I'm another one who got 80% of sum insured. I was with NFU.

I wasn't too happy about the 'L' mark (mine's a grey too) but she didn't flinch having it done and you can hardly see it. It certainly doesn't bother her in the summer etc. They did say that she had to also have either a freezemark or a microchip, as well as the 'L', so I had her chipped. When it came to valuing her I found it very easy to justify her sum insured and they didn't query it - in fact the valuer was a nice guy.

I agree it's a horribly emotional process But it did provide me with quite a substantial sum for buying my new riding horse (Retired one isn't going anywhere)

 

[Goldenstar]

I got them to freeze mark the saddle area and it failed how lucky was that the horse has two letters on him and the numbers and L just did not work you can see his black fur is marked in a faint L but you have to look to see it.
When they came to freeze brand which the insurance covered I just said owner said mark the saddle area that's what I have been told to ensure happens and they did it.
It main delay in the system was the wait for the freeze marking company to get to us as they don't pay out until its done.

 

[YasandCrystal]

What?!?! I really hope you're kidding!! Surely thats not legal?! That would then be loss of horse as they're taking it away. I would absolutely not allow anyone to remove my horse, no way.

I have never heard of this so did a search and came up with the following:

15. I've heard that if a Loss of Use claim is paid, the company can take the horse?
There is a provision in the Loss of Use coverage wording that gives the company the authority to take possession of a horse in the event a loss of use claim is paid. This is not a common occurrence but is necessary to prevent fraud.

I would imagine that one would be forewarned if the insurers intended to do that though so you would have the choice. I had no problems pursuing my claim - the valuer was very pleasant as was the freezemarking lady - my horse is a real handful and she just plugged on regardless of his standing vertical as soon as she approached him.

 

[PandorasJar]

Anyone ever contested carcus value? As presumably most horses (I know certainly none of mine are) aren't fit for human consumption or animal if LOU as most surely would have had recent treatment. So surely pts cost would outweigh any carcus value?

Or is it that the horses value as a 'companion' could be taken into account?