Don't know whether to renew insurance - thoughts please.

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Rosiefell

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I have just received the renewal notice for my two ponies but I'm not sure whether to continue with it.

Pony 1 is 15 years old, has an exclusion for sweet-itch and although I never claimed for them has had veterinary treatment for choke (twice) and laminitis. I'm guessing that the insurance co won't pay up for these in the future if they see her vet history. Value £1000

Pony 2 is 10 and has exclusions for colic (needed hospitilisation on fluids for an impaction) and laminitis (v. mild but x-rays taken as a precaution). Value £1700

Both are freezemarked and microchipped and I have BHS Gold membership. I am also of the view that I would probably not put my ponies through extensive veterinary treatment. For example with the colic case if we had been looking at surgery I would not have gone down that route due to the risks and my vet told me it would still probably cost more than the insurance.

The quote is for £735 for the 2 (works out at approx £61 p/m), vets fees £5000 (xs £135), disposal costs £200.

This is something I have been thinking about for a while and not a sudden decision, all views appreciated but please be nice as I'm shy :).
 
Im having the same thoughts too and Im going to cancel mine. Ive paid my insurance for 6 years with no claim and my horse had some sarcoid treatment in the last year. Without boring you all with the story, after a long and labourious fight (which is still going on) I got a payout of £10.53 for a £700+ claim. They are trying to weedle out of paying most invoices blinding me with insurance jargon in the process.My horse is 15 and worth about £1000 so I have had to find the £700 to pay the bills which I thought the insurance company would sort. I have also cancelled my cats insurance and I am going to pay £45 into a savings account each month which is the total monthly premiums that I pay. At least there will then be some money there to pay any vets bills. My friend on the yard had a massive fight with her insurance company when her cob developed COPD and only got about half the payout due. These insurance companies are all robbing whatnots in my opinion!!
 
It really depends on your personal situation.
But personal I would always have mine insured, we had our pony PTS last week. We considered stopping her insurance last year but decided not to. I am so glad we did. Because without it we would not have been able to give her every chance to get better. we ended up with a bill of around £3000 and we are not in a situation to pay this without insurance.
You never know what is round the corner, my pony had never had an ill day in her life, but at just 16, she developed a mass on her spine.
I am happy that with the insurance I did everything I could for her, and when the time came I knew that I hadnt let her down and that it was the right time.
Just my experiences.
Emily
 
I know exactly where you are. I took my youngster and ponies off the insurance a few years ago, only insuring the one that was eventing, and worth a lot more. One pony was worth a thousand, and it insurance was £300 per year! I did have third party for them, through pony club etc, and put the money that I would have saved into a pot for emergencies. Typically, two weeks later all our tack was stolen, and one was kicked quite badly, but even after replacing that, and treating the horse, we had still saved money after two years... I also found that the vets were better when they weren't insured, trying rest rather than rushing them off for x rays and physio at the first mention of lameness. I do think in some cases scans etc are needed, but in the most, I think the vets are bumping up their bills knowing the clients don't have to pay them - but we do as our premiums go up and up.(I will now get milions of replies saying how scans saved their horse no doubt, but you get my point..)

Now I only have one pony, and the youngster has grown up and is worth much more, so I have put them back on again, but its leaving a bitter taste in my mouth.
 
Honey08 said:
I know exactly where you are. I took my youngster and ponies off the insurance a few years ago, only insuring the one that was eventing, and worth a lot more. One pony was worth a thousand, and it insurance was £300 per year! I did have third party for them, through pony club etc, and put the money that I would have saved into a pot for emergencies. Typically, two weeks later all our tack was stolen, and one was kicked quite badly, but even after replacing that, and treating the horse, we had still saved money after two years... I also found that the vets were better when they weren't insured, trying rest rather than rushing them off for x rays and physio at the first mention of lameness. I do think in some cases scans etc are needed, but in the most, I think the vets are bumping up their bills knowing the clients don't have to pay them - but we do as our premiums go up and up.(I will now get milions of replies saying how scans saved their horse no doubt, but you get my point..)

Now I only have one pony, and the youngster has grown up and is worth much more, so I have put them back on again, but its leaving a bitter taste in my mouth.
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Absolutely agree Honey, vets are exploiting insurance companies which is not making life easier, just harder!!! Also feel strongly against them throwing whatever they can at our horses just to make a ton extra!!!! Half the time horses dont need to be put through what they are!!!

However, i always have mine insured just in case that awful accident ever happened and I couldnt afford to pay.

:D
 
I had the same dilemma this year. I had never made a claim on my insurance for 10 years. My boy has suffered from a summer breathing problem for the past four years. After the first lot of claims which I have to say the insurance company didn't quibble about they of course excluded this problem from any future claim. I have been funding his treatment every summer since. When this years renewal came in they had also excuded death from this problem and as they are linked, no disposal costs. Since my boy is likely to die (not yet I hope) from this problem it seemed pointless to insure for anything except legal liability which covers theft and straying, have saved £350 this year which can go towards his vet care.
 
Thank you. I've come to the conclusion I would like some sort of vet's fees cover but if it reaches a couple of thousand I'm going to be questioning the horse's welfare/quality of life anyway. I've got friends who have claimed for fractures and wire injuries (requiring surgery) and both have said with hindsight they wouldn't go through that again. It would be useful to have disposal cover too but if it's linked in with the vet's fees & exclusions I guess there's no guarantee that gets paid either? I think I shall be ringing around to see what deals might be available.

miss_bird said:
I only have public liability insurance.
But sure as hell i am not gonna pay some insurance company for 20 horses, i would bankrupt myself paying them
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Too right!! I worked for a small riding school and none of their horses were insured. The owner said even if they lost one horse a year it would still be less than the insurance bill!!
 
I'm waiting for insurance to pay out after having my horse pts a couple of weeks ago. We are talking about putting the money into premium bonds and buying one a month to cover emergencies. We currently have 2 insured and 2 that are not. But as one of those insured is 18 I think that there are so many restrictions its not worth it. We do have 3rd party and have been paying about £150 pm got 3 horses and the dog.
 
raff fractured his leg earlier this year, and without the insurance i would have either had to remortgage, or have him pts. i'm SO glad i had insurance then.

however, iggle is only insured for public liability... i don't know why i've never insured him... he's going to start showing next year, perhaps i'll insure him then when he's doing more than just grazing in the field (fwiw raff's accident happened when he was 'just grazing in the field' so i'm not sure why i don't insure iggle...) :o

x
 
Ellie was PTS nearly 3weeks ago and had been insured for the 8yrs I had her however in that time I had made 2 claims... the one that is currently going through and on for her hock injury the total value of both of these was under £4000 with is far less than I'd spent in insurance!!!
New horse now here and I have insured her as she cost me an arm and a leg but i will reasse this in a years time.

You just dont know whats round the corner and horse could fall ill within months of owning & you might not have the money stuffed away.. this was my thinking on insuring this time round, however do shop around!! I'm paying the same (give or take a couple of quid) for my new ned as I was for my old girl who was insured for only £1k !!!
 
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