Considering not renewing insurance.

Fruitcake

Fruitcake

Well-Known Member
Joined
15 February 2012
Messages
2,436
Visit site
After two claims for the same horse in the last few months and a list of exclusions as long as my arm, (includng colic until he's gone 12 months clear of an episode), I'm wondering whether or not to renew my policy for him next month.

I've looked into gold BHS membership for third party cover and think it seems a good deal as it would mean I could stop the existing third party policy I have for the little pony too. I'd need to insure trailer separately though as that's currently on horse policy. I just feel a little uneasy about not having insurance in case of any condition that might still be covered!

What do those of you without insurance do? I considered just putting an amount into an account every month to go towards vet fees.
 
I think you need to have access to funds in an emergency (credit card etc) or be prepared to put the horse down if something expensive happens. E.g. A kick injury that requires joint flushing can easily rack up 5k.
 
I would say it all depends on to what extent you'd be happy to pay for treatment. I cancelled vets fees cover as they excluded anything I'd ever had even a conversation about with the vet!! In the end I took out £5k on a credit card 0% deal, and decided if I was going to go ahead with any surgery or extensive treatment I'd pay it off within the 0% deal and use savings.
 
im in the same 'boat' the insurance on my old boy (now 21) is £65 a month despite never made a claim in the 17 years ive owned him and always stayed with the same insurance company.

it doesnt help that the pony doesnt want to load anymore, so it begs the question of whats the point? what ever happens, the treatment would always need to be something that could be treated at home, plus his arthritis, means box rest (if he needed it) wouldnt be in his interest either!!!
 
I nearly cancelled insurance for our horse last year, after a list of unfair exclusions which I couldn't get removed as horse isn't in full work.

Luckily I didn't, as a couple of months later she developed a mystery infection and cellulitis, which presented the night before we were going on holiday (meaning we needed emergency call out) and took lots of time, various antibiotics and several vet visits before it went away. Ran up quite a large bill for something relatively minor and I was relieved to be able to claim it back on insurance.

As she's a bit of a walking disaster I think I will continue to insure until such a time that she's excluded every part of her body. She seems to have a knack of running up unexpected vet bills.
 
For a different opinion, I've never insured a horse before.

My opinion is that the money I save from not insuring will be invested into a fund for horsey if anything happens. For example, spent £1k in one instance on respiratory treatment and £2k when he died, (including cremation). I also think the small terms can so easily catch people out and are designed to pay out as little as possible, and thus not worth the agro.

I do have third party riding insurance however.
 
I stopped insuring when Jay had an exclusion, as I reckoned the exclusion was the very thing that would probably need to claim for, so I could get saving by not paying the premium. The caveat is that I do have savings enough to cover if he had a disaster before the premium money added up. He was recently PTS, so I did save a year of premiums, and the PTS and removal would not have been covered anyway.

The only glitch was that I felt so empowered by losing the premiums that I also cancelled the dog's insurance. That one did not work out as Heck then had a bout of pancreatitis, which cost £920 almost straight away!

Overall we still came out on top, just!
 
We stopped insuring 4 or 5 years ago now. Nothing has happened (nor had it in the 10 odd years before..) so we are several thousand pounds richer as a consequence which has all gone into a dedicated fund.

Insurance is essentially a gamble - with the odds somewhat stacked in the insurer's favour. You gamble you will need to make a claim. They gamble that you won't. Like any casino the house stacks the odds. And like a lot of other things in life it presents an unfair financial burden for responsible owners who do not have access to other sources of finance in an emergency.
 
I took the decision to stop insurance on my old boy about 3 years ago. He used to be a walking vets bill, and had a list of exclusions, and it just didn't seem worth it as the premium was so high. Since then he's rarely been ridden, and has had a big management change, and touch wood has been fit as a flea, but I have in the back of my mind that if something major happened, I'd have to pull the plug.

My ridden horse is insured, and thank goodness he is - the last couple of years we've had an infected puncture wound and a couple of acute COPD episodes (soon to be excluded :-( ).

I do my 3rd party through the BHS.
 
Bearing in mind that vets' fees are a lot less here in Ireland, we have never insured. If a horse needs the vet we pay the vet, if the treatment is too expensive or too invasive the horse is put down. Insurance is a business, businesses are run for profit: if you insure, you are providing the profit. I think that many, many proceedures and treatments are promoted unecessarily, not for the horse's benefit but for the vets' bottom line, and all facillitated by insurance.
 
Mine are insured for 3rd party and external injury as BHS Gold doesn't cover other people handling or riding your horse. Much cheaper but more than BHS Gold. I have the horses at home so I wanted to make sure anyone helping me was covered too.
 
When lived in Germany some years ago, no one seemed to insure for vets fees. Vets bills were much cheaper because of it.

I stopped insuring my 17 year old last year as premiums went up and more exclusions applied. I put the money in a savings account instead.
 
After years of vets fees all covered, I no longer insure my 17yo beyond BHS gold membership. I have nothing saved atm, and am not working but hope if it came to it my oh would see sense and help me pay for it, or my mum would help and I could pay her back. We've had a management overhaul, and at 17 I'd also be sensible about what I would pay for.

I also don't insure my WHW ponies for vets fees, but with ponies I'm a lot more realistic in what I'd pay for as imho they just are more robust! They have liability insurance through WHW.
 
I stopped insuring when various vets started asking if they were insured before they even knew what the problem was and I started saying no they are not insured as had a gut feeling that every test would be performed whether necessary or not through past experience

Also didn't like being told I had to have a pony operated on for colic even though my vet and I agreed it wasn't the right thing for him but BEVA seems to rule the day, so had him pts in the hospital as that was the right thing to do for him, if I had agreed to surgery paid for by the insurers I would of lived to regret it and money would never make up for a guilty conscience I know I would of had, so my decision was made easier for me

I feel so much better now not insuring as I didn't always feel all those tests carried out were really called for. I call the vet as usual, we decide together the best course of action and I pay the bill

My judgement will always be based on what is right for the animal in question and I don't need any interference with forms, rules, guidelines or small print

I put away money and I am saving more than the premiums I would of paid, I do have 3rd party insurance
 
I stopped insuring for vets fees after a nasty incident when they refused to pay out after telling me to go and get treatment done. I ended up with a big bill and had all the delight of knowing I'd been paying the premiums for years and had been giving them money for quite frankly b*gger all in return when I did make a claim. The reason they withheld payment - the pony had a birthday between the renewal date and the date of the treatment - can you believe that? Like everyone insures on their horses birthday - NOT. I tried to fight it but to no avail. So I cancelled all three policies I had with the company and went down the BHS Gold route for third party cover and the bank of myself/mum/dad/partner/credit card for vets fees if required and the thought that if there was anything major I would have them PTS - fortunately there never was and never has been (so far) a bill as big as the one that caused me to cancel the insurance.

I also think it's very true what some others are saying on here - vets bills would be cheaper if there was no insurance cover. I had one once who on hearing P wasn't insured said bute for a month then turn him away for a year and see what happens - this was for a case of spavins and the year was to see if the hocks would fuse by themselves - and guess what - they did!

I also think that there are some owners, who love their horses as much as the next person, would learn a bit more about their health care and not call the vets out so frequently for things that could be coped with quite easily by a competent experienced person if the thought wasn't there that the insurance will pick up the bill. I'm thinking here of someone I heard of who had the vet on their yard anyway seeing another horse and when their horse came in with a tiny cut, presented it to the vet, who promptly said sedation, antibiotics, and two stitches. A more experienced horsey person on the yard heard what was going on, came along and said well what about cleaning it up and sticking some dermagel in/on it, keeping it clean and keep applying the dermagel. Vet then said yes, that would do the job just as well, just keep any eye out for infection. Said horsey person sorted the horse out for fluffy bunny owner and a week or so later you'd hardly have known there had ever been an injury. Good lesson learnt there and a bit of money saved as well. Obviously I know that complications could have arisen from, and so did the experienced horsey person; just goes to show though that vets do have an eye on making money as well as the horses best interest. Their solution would have worked - of course it would, but at how much expense? Firstly in their bill and then in insurance problems if it got reported to the insurers.
 
Last edited:
Like many others I stopped insuring my 2 older semi retired horses when virtually everything was excluded - both had been walking vets bills for a number of years - since then I have had to pay out for cellultis treatment (wouldn't have been covered), and as of yesterday a colic treatment ( also wouldn't have been covered ) I made the decision a number of years ago that I wouldn't put either through another GA, so I know that if things ever go that way, my mind has already been made up. The money I have saved on premiums have covered all my vets bills so far. I have BHS Gold membership and my riding horse is still insured.
 
I agree, you need to decide beforehand what warrants euthanasia. I know I would never put mine through surgery or prolonged box rest.

He is still insured though!!
 
I stopped insuring my two about 4 years ago when they hit 17 and started paying into an account for them instead. Over the years it's built up to £5k. All last year we were having trouble with M and some unexplained lameness and he ended up in hospital for 8 days. Even that only cost £2k and while it smarted a bit handing over, I do feel like my system worked. Other bills to try to find out the problem probably added up to about £600 but I didn't dip into my fund for those as they were in dribs and drabs and I doubt I'd have claimed for those and because he kept coming sound and then going lame again I don't even think it would have been any different had been insured. That's my rule - if I wouldn't have claimed on the insurance, I just pay it, I don't dip into the account.

The one thing I learnt from it all is to consider that my insurance fund, not my money and to make decisions as if he was insured. My vet knew he wasn't so was trying to keep costs down and it wasn't until I said that the money was there and I was happy to spend it that he went to hospital and we finally got a diagnosis. I'm not sure it would have happened any sooner had he been insured as the whole thing was so up and down and he had complications from the first set of nerve blocks he had which set us back 6 weeks, but I'm glad I told the vet money wasn't an issue and he was to have the best treatment he could. I'm also glad it didn't clean me out completely!

The first year was a bit of a gamble as I didn't really have any other backup but I knew my credit rating would mean I could get a credit card pretty quickly if I had to. Luckily I didn't have to use it until 4 years in.

I too have BHS Gold membership for public liability.
 
mine haven't been insured for the last 40 years and despite 3 trips to horse hospital I am running at a good profit. I make sure a have a credit card with a 15k balance on it. That way in an emergency the credit card and horse can go to hospital and treatment can be paid for up front if they demand.
I also have a very firm decision about each horse (I have several) as to exactly what I will and won't do. I have only one I may consider colic surgery the rest will given time, any treatment possible and PTS at home if it happens. For lameness I am a great believer in turn out and rest rather than every test known.
I think you have to decide exactly what you would want based on your particular horse.

I think the advantage of not insuring is that you are in charge and you don't have to follow any route the insurers may like.
 
I have insured mine for the last 30'ish years and had one claim.
When my renewal came through this time, the increase in premium was £150 for my older horse and £100 for my younger horse. For no good reason.
So I decided to put the £1000 I would pay in premiums into a bank account and have a standing order each month to keep it topped up. I have BHS Gold insurance for 3rd party.

Premiums have increased beyond all sense over the last few years. And I know from friends who aren't insured that their bets bills are a lot less than those who do insure because the vets don't mess around with extras. They just treat the problem.

If the worst came to the worst, I can always get a loan to cover the cost.
 
Thanks. It's interesting to get different perspectives on it.

mandyroberts said:
Mine are insured for 3rd party and external injury as BHS Gold doesn't cover other people handling or riding your horse. Much cheaper but more than BHS Gold. I have the horses at home so I wanted to make sure anyone helping me was covered too.
Click to expand...

I might need to look into this further then as I'd like to keep the option of others riding my horse if need be. The way I read it was that others would be insured but I may be wrong. The wording states,
"This insurance shall also provide indemnity to any person given permission by the Insured to use the Insured's horse or horse drawn vehicle normally in the Insured's custody."


annagain said:
That's my rule - if I wouldn't have claimed on the insurance, I just pay it, I don't dip into the account.

The one thing I learnt from it all is to consider that my insurance fund, not my money and to make decisions as if he was insured.
Click to expand...

This is exactly the rule I thought about having if I go down this route. I would have access to funds in the first year if need be. I hadn't thought about taking out a credit card in advance as a just in case. May be worth an idea.
 
It depends on your attitude to risk, available cash and whether you are ok to pts if you can't afford treatment. If you are risk averse, couldn't afford to pts and couldn't cope with pts when an expensive treatment may help then carry on insuring. If you aren't risk averse , have masses of cash and or would pts,if treatment would be pricey you don't need to. Most people will be somewhere in between but only you know where you are. The answer is to do whatever leaves you able to sleep at night. A couple of years ago I considered cancelling my horse's insurance but as I m risk averse and not rolling in cash I renewed. One day in to the new policy sustained an injury that cost £7k. As he had a £4k claim from atypical myopathy the previous year I think I had my money's worth.
 
I do insure mine and for now will continue to do so but must admit that horror stories of delayed treatment, refusal to pay out and vets that see insurance as a blank cheque do make me wonder whether there is merit in not insuring and being the one who has ultimate control over knowing what the bill is and being the one to pay it. imagine the sleepless nights of running up a big bill then having to fight the insurers to pay out

I know that friends with no insurance have managed to end up with more carefully considered vet treatment for their horses than the scattergun of tests or work ups that often occurs when a horse is found to be insured
 
WelshD said:
I do insure mine and for now will continue to do so but must admit that horror stories of delayed treatment, refusal to pay out and vets that see insurance as a blank cheque do make me wonder whether there is merit in not insuring and being the one who has ultimate control over knowing what the bill is and being the one to pay it. imagine the sleepless nights of running up a big bill then having to fight the insurers to pay out

I know that friends with no insurance have managed to end up with more carefully considered vet treatment for their horses than the scattergun of tests or work ups that often occurs when a horse is found to be insured
Click to expand...

I agree with this. Money is one thing but control is equally important. I have always told vets straight off they are not insured and I am paying for this, with the unspoken comment that I am also in control of it and will need to know exactly what you are doing and why. It has worked well. When my foal was taken to hospital as an emergency it was lovely to be able to say to the vet "I want every test possible done, don't even ask me for permission just do it whatever it costs and preferably this afternoon" Any delay by an insurance company could have cost his life. I had a bill of over 2k but also a very much alive foal at the end of it.
 
Dunno if i'm lucky with my vets or what, but mine always ask if the horse is insured but then consider the best clinical options according to funds available.

When Millie obliterated her check ligament, we had PRP on the insurance cover - would have been offered it if I'd been self-pay but would have found it harder to afford.
We scanned the leg many, many times throughout the next 12 months - I'd have found the money for that because it turned out to be healing more slowly than anticipated so couldn't go by external appearance/palpation. I was glad to have the cushion of insurance for that.

Likewise when she injured her sdft etc. If I hadn't been insured I'm pretty certain they would have offered surgery as a best option but I'd have had to turn it down and just go for rest.

To the OP, I have stopped her insurance now, she's at an age (20) where I'd find it hard to justify a colic op which is the main thing we were still covered for. I could probably lean on mum and dad for a loan if I needed it but I think it was kind of symbolic when I cancelled the policy that she'd used up all of her lives.

I've insured my other one now instead though - she's taken over the role of competition horse ;) and is showing enough promise that I'd like to have a wide range of options available immediately if something goes wrong.
 
If you can afford to spend approx 1K to fix things taht might be just a bit serious, eg cellulitis, etc, but not bad enought o warrant pts, or if you say that a small wound will mean pts if its expensive to fix, even if the prognosis is good- then don't insure.
If you can't then try and find the best way to work the insurance - i.e can you reduce the value of the horse, reduce the vets fees, increase your excess etc?

people often say they wont insure as they'd pts when something major goes wrong - then complain when they get a vets fee of several hundred for something that is minor but needs treatment - and it all adds stress to an already stressful situation.
 
I haven't read many of the feeds but I am in a similar situation to most I think. I have a 15yo Ex race horse who touch wood had never had anything too expensive wrong apart from the odd cut which required some bute and antibiotics (watch me jynx myself now) I am fairly experienced and hopefully know enough how to manage most minor problems. He is at the family farm which is horse friendly with only 2 other horses. I compete unaffiliated dressage, hacking, schooling, beach rides occasionally so he isn't in hard work - not that this matters if they get poorly. I have only had him insured for the last 4 years after having him on livery when I moved back to my parents after a relationship break up.

Now I have bought a house I am obviously reviewing where I can make some savings. My premium has gone to £10 in the last 2 years with no claims and he isn't 15 till next year so wont fall in the Veteran category yet. I've looked at all the exclusions list on my policy and it is as long as my arm so there is a good chance that heaven forbid if I did put a claim in he wouldn't be covered.I pay £35 a months covering up to £3k vets bills, death, theft, loss of use and public liability which I know is not a bad deal. My problem is the list of exclusions and also the fact that even if I do ever have to make a claim my premium would go up so in essence you are still paying yourself for it and then you wouldn't be covered for a re occurring problem. My friends pony has had numerous issues now to the point they pay close to £100 a month and only his head is covered so what is the point? She is now contemplating euthanasia as he has conflicting issues which cant be solved so all that money for something that anyone with any form of animal welfare or financial awareness would have cut there losses. I have a credit card for emergencies and a very supportive family who I know would help. I have always said since he owes me nothing and has had a successful racing career that if the time came and he would have to undergo any form of surgery or long term treatment I would have to PTS not because I don't love him but because he wouldn't deserve a poor quality of life on medication or a stressful experience which starts a downward spiral at nearly 15 yo. Insurance for Cars is the law, insurance for things you hold an emotional attachment to is subjective providing you can finance the monthly installments without making an impact on your financial status or have the spare cash IF you need it. Unless you make a claim over £2K every year in my case I would be worse off continuing with the insurance but the peace of mind is nice. I have cancelled the £35pm and I am renewing on a £21pm - every little helps.
 
You must log in or register to reply here.
Top