Gah! Horse insurance -rant

Nudibranch

Nudibranch

Well-Known Member
Joined
21 April 2007
Messages
7,166
Location
Shropshire
Visit site
Why do premiums seem to have gone up so much? The youngster is due for renewal and despite him having been gelded and freezemarked since last year, growing out of the "risky" foal stage, and having a clean bill of health, the best quote I can find is still £10 a month more than last year. Surely he's less risk now? And he's still too young to work.... it's just ridiculous. I'm thinking of just getting third party only and putting the money in a savings account for him. At the end of the day I could cover a serious vet's bill. Wouldn't be ideal but I could do it. With a bit of luck there'd eventually be enough in the pot to cover him regardless. Has anyone else done this? I just resent the ever increasing premiums for ever decreasing cover.
 
We never insured them all, to many. but last year decided to stop the ones we did as the premiums had shot up. We now self insure as you've considered. You have to be well disciplined and put the money away every month and resist the urge to spend it on other things. You also need to have enough in reserve to pay a vet bill if anything occurs before your pot has grown, but it works brilliantly for us and I wish we'd done it years ago. Just to add we have public liability insurance through a society membership. If you don't, I would consider sorting that aspect out, but as for the vet fees etc I think the premiums outweigh the benefits these days with excess and all the exclusions they slap on at the drop of a hat.
 
Haven't insured for about 15 years and put money away each month. Had one big bill £1000 in that time. Have public liability through Gold BHS membership £62 a year. My mare is 21 so cover would be limited on her now anyway.

Would reconsider if I get a new horse but current thinking is no insurance
 
We have savings for vet bills and have third party insurance through the BHS. I think insurance is a rip off and I changed vets recently when a new member kept nagging at me to get insurance, despite the fact I have always payed my bills. It made me feel like I was dealing with an insurance salesman, not a vet.
 
I've reduced what I want covering to the bare minimum. I've got a couple of horses who are semi retired and who no longer compete, or do anything too stenuous and they're not insured now. I have BHS gold membership to cover them for public liability - because they do still hack out on the roads.
My eventer is the only horse I own who is insured, and that's with NFU, who still seem to be one of the best on prices.
 
I posted an almost identical question yesterday, seriously wondering whether to insure my new horse or just save each month. So far my TB has had £300 of claims and I have paid over £2500 of premiums. I know its a gamble but I have not been impressed by the service Im getting from the insurance co and like the OP I could cover a vet bill if I had too. I did a similar thing with my 2 elderly dogs when the premiums got ridiculously high and the excesses rose as well, I knew I could cover essential treatment but I also knew it would make me think twice about putting them through anything serious at their ages. Am thinking BHS gold for 3rd party and take a chance.
 
You must log in or register to reply here.
Top