Dumb selling question..

Klix

Klix

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Just a hypothetical question, however if you were looking to sell a horse that had an exclusion on a hind leg (for 12 months) would you declare it on the advert? How does it all work ..
 
No definitely not on the advert. Assuming the horse is sound, and depending on the condition, I would mention it on the phone or at a viewing. 90% of things that insurance companies exclude are nothing anyway. I would expect the buyer would want a vetting and the insurance company for the buyer would go off the vetting anyway, so that exclusion probably only applies to you??
 
Thanks Honey08..I am not looking to sell my mare, but it was a convo I was having with a fellow livery earlier. Again hypothetically my mare knocked her hind fore beginning of this year had X-rays scans ect turned out to be bruising and nothing more 100% sound now and never been an issue since now swelling if stabled, stiff ect.. However there is now an exclusion for the next 12 months on that leg (up in march 2013)

So would it affect her 'sell ability' if I were to?
 
Honey08 said:
No definitely not on the advert. Assuming the horse is sound, and depending on the condition, I would mention it on the phone or at a viewing. 90% of things that insurance companies exclude are nothing anyway. I would expect the buyer would want a vetting and the insurance company for the buyer would go off the vetting anyway, so that exclusion probably only applies to you??
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Exactly, The new purchaser is responsible for vetting the horse at point of purchase and then can choose to insure it with whatever company they wish. The pre purchase vet ticket will have to be produced to the insurers depending on the insurers rules for valuation.

You own the current insurance policy and it will be cancelled at the point of sale.
 
AdorableAlice said:
Exactly, The new purchaser is responsible for vetting the horse at point of purchase and then can choose to insure it with whatever company they wish. The pre purchase vet ticket will have to be produced to the insurers depending on the insurers rules for valuation.

You own the current insurance policy and it will be cancelled at the point of sale.
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Ok so am I right in saying that whilst the horse is under my ownership I would be excluded to claim on that leg for the 12 month period, however if someone purchased the horse and insured it under their name then they could claim?

Wow is it wine o'clock yet?!
 
Yes, that's how I understand it anyway. I've never asked/been aware of any previous exclusions on horses I've bought, nor have I been asked by insurance companies.. When you buy a new horse you start a new record at the vets and a new insurance policy..
 
The purchaser won't be transferring the existing insurance policy to their name. I doubt an insurance policy for anything is transferable, but I could be wrong.

I don't know if equine insurers talk to one another to prevent fraud, possibly they do. However, what is to stop a purchaser buying the horse from you, changing it's name on the passport and insuring it. How would any insurance company know the horse had an exclusion on it under a previous owner/previous insurer.

I recently bought a horse with a ridiculous name on the passport. I changed it and registered it in my name. It passed the vet on the day of purchase and is insured. I have no idea if the previous owners had any exclusions on their insurance for the horse when they owned it.
 
That's brilliant, thank you to both for clearing that up for me!! It has been pondering for a while :)
 
There are strict rules about pre existing conditions to consider when insuring horses and there is a time period from the point of cover before any claim can be made. The lesson to adhere to is always vet and blood a horse that is of value and I would vet a low value one as well.
 
AdorableAlice said:
There are strict rules about pre existing conditions to consider when insuring horses and there is a time period from the point of cover before any claim can be made. The lesson to adhere to is always vet and blood a horse that is of value and I would vet a low value one as well.
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So being a realist is it a case of buyer beware? To be blunt?
 
You do need to remember that part of the vetting process is that the vet will ask if there are any known or pre-existing conditions. If you lie or are not absolutely truthful it may come back to bite you.

A number of years ago I brought a lovely coloured mare and had her vetted. After owning her for a couple of weeks, a friend of a friend recognised her and informed me that the mare had a pre-existing condition. I contacted my vet to ask about this and immediately legal wheels were put in motion as the seller had effectively lied. The result was that I got 50% of the purchase price refunded, and continued exclusions on her insurance .
 
EllenJay said:
You do need to remember that part of the vetting process is that the vet will ask if there are any known or pre-existing conditions. If you lie or are not absolutely truthful it may come back to bite you.

A number of years ago I brought a lovely coloured mare and had her vetted. After owning her for a couple of weeks, a friend of a friend recognised her and informed me that the mare had a pre-existing condition. I contacted my vet to ask about this and immediately legal wheels were put in motion as the seller had effectively lied. The result was that I got 50% of the purchase price refunded, and continued exclusions on her insurance .
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If I were to sell the mare I would be honest, I just wanted to know where I'd stand in relation to advertising ect... As I say it hasn't effected her at all just a bit of bruising, which at the time looked horrendous! And due to the cost of X-rays scans I claimed. However as I say she is now 100% sound and had no other issues at all :)
 
EllenJay said:
You do need to remember that part of the vetting process is that the vet will ask if there are any known or pre-existing conditions. If you lie or are not absolutely truthful it may come back to bite you.

A number of years ago I brought a lovely coloured mare and had her vetted. After owning her for a couple of weeks, a friend of a friend recognised her and informed me that the mare had a pre-existing condition. I contacted my vet to ask about this and immediately legal wheels were put in motion as the seller had effectively lied. The result was that I got 50% of the purchase price refunded, and continued exclusions on her insurance .
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There is also nothing to stop a purchaser asking the vendor to instruct their vet to release the veterinary records to the pre purchasing vet. I requested the records when I bought my last horse, but I doubt, unless the horses are very high ticket, many purchasers do. It all depends on how experienced the purchasers are or how well they are being advised I guess.

As Klix said Buyer Beware.
 
AdorableAlice said:
There is also nothing to stop a purchaser asking the vendor to instruct their vet to release the veterinary records to the pre purchasing vet. I requested the records when I bought my last horse, but I doubt, unless the horses are very high ticket, many purchasers do. It all depends on how experienced the purchasers are or how well they are being advised I guess.

As Klix said Buyer Beware.
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So AA.. In conclusion, shall i not mention anything (if I do decide to sell in future) unless queried? As horse is sound and there is no blemish and doesn't affect her job? (Never had to potentially think about selling a horse before and all of the horror stories in read I want to make sure I do everything legit!)
 
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