Good service from SEIB

[Birker2020]

Wow SEIB have just rung me with my renewal and said its a premium of £600. This is for Lari insured for 10K value and no vets fees. Said I was thinking of cancelling it as he’s retired and not ridden anymore and I can’t justify paying £46 per month let alone £50 a month now its gone up again.

The lady said, ‘Oh we didn't realise he was retired, that will bring your premium down, and while we're here do you want to change his value so your premium will come down?”

So now he’s insured for destruction on humane grounds under BEVA guidelines, no vets fees. So now its £15 per month instead of £50 at a value of 4K! I have no idea how they determine value on a retired gelding but still. Stand more chance of getting that than 10K! I hope I never have to but nice to know its there if it happens.

Very happy with Gabrielle from SEIB. She has even taken the address where he has gone to – when I rang with all this information in April saying he was retiring the person I spoke to never mentioned the fact my premium would go down for a non ridden animal. I suppose I should have known really, its never happened before as I've never retired one and I never thought to push it.

I will definitely ring SEIB for a quote when I get my next horse. See if Gabrielle can work her magic again

 

[Tiddlypom]

I've always found SEIB to be good .

As a matter of interest, do they also pay for the costs of PTS if BEVA guidelines are met?

As he was retired due to persistent soundness issues, I don't know where they got £4k from either. Maybe he's worth £500 tops? I'd check again, as you really wouldn't get £4k for him if the worst happened.

 

[w1bbler]

As a matter of interest, do they also pay for the costs of PTS if BEVA guidelines are met?

Nfu paid for pts & 'disposal' on mine that met BEVA guidelines. I wasn't even expecting them to pay out on the horse as vets had given a treatment option. They contacted me after paying the horses value to remind me to submit hid pts invoice.

 

[Clodagh]

In my experience insurers never actually pay out for pts, mine wouldn’t even though she had a visibly broken hock (Nfu). They said they’d consider it if I took her to the vets surgery for them to attempt an operation.
Without being mean, if not for vets fees why are you insuring him? He’s worth nothing, realistically? And they will only pay out in what he is worth that day.

 

[criso]

I was really surprised when my renewal from SEIB recently was exactly the same as last year, I was bracing myself for a big increase as everyone was talking about big rises.

I'm on their veteran policy (don't have to be a veteran) so external injuries, death, theft or straying, public liability, personal injury and I added tack as an option. £350 a year.

 

[Clodagh]

I was really surprised when my renewal from SEIB recently was exactly the same as last year, I was bracing myself for a big increase as everyone was talking about big rises.

I'm on their veteran policy (don't have to be a veteran) so external injuries, death, theft or straying, public liability, personal injury and I added tack as an option. £350 a year.

That sounds like a good policy.

 

[Clodagh]

As he was retired due to persistent soundness issues, I don't know where they got £4k from either. Maybe he's worth £500 tops? I'd check again, as you really wouldn't get £4k for him if the worst happened.

That’s what I meant, didn’t mean to repeat it.

 

[Red-1]

Did you know that SEIB underwrite the World Horse Welfare insurance?

For £160 a year (£13.33 a month) you get third party up to 10 million, Accidental external injury cover for any leisure horse or pony aged over 30 days that you own or have on full loan up to £1,500 per claim and in the aggregate during the period of membership*, and Personal Accident Insurance up to £10,000 per claim*.

This is on any horse you own or loan.

Bargain!

Plus, WHW is one of the few charities who seem more clued up on welfare, and it supports them.

I only mention it as you could cancel your SEIB policy within 14 days without penalty, if this one, also with SEIB, is better!

 

[criso]

I did look at WHW (and Harry Hall) but I get more with my SEIB option. I've got £3000 for vets, death if due to injury, disposal, £50 if pts for reasons that don't qualify and tack. I've tried to put the latter on my contents but never found an insurer that will unless it's kept at home and only taken out to use. £3000 may seem a lot for an injury but tb has a knack of escalating especially if there's a horsepital stay involved.

 

[ihatework]

I can’t imagine you would get anywhere near £4k payout if he were to die suddenly. Seems very odd to insure him for value. You’d be better off putting your £180/annum premium towards a basic accidental vets fee insurance

 

[Birker2020]

I've always found SEIB to be good .

As a matter of interest, do they also pay for the costs of PTS if BEVA guidelines are met?

As he was retired due to persistent soundness issues, I don't know where they got £4k from either. Maybe he's worth £500 tops? I'd check again, as you really wouldn't get £4k for him if the worst happened.

I decided on 4k, to me he's priceless but I thought 4k seemed reasonable given the circumstances. I thought it would cover pts and disposal costs with some to spare.

Covered for £175 for disposal.

I asked her how much I should value him for but of course she couldn't tell me.

He's got 9 exclusions, so unless he broke a leg or died from lightning bolt I'd get nothing anyway. If he broke his neck, pelvis, SI, hocks or back I'd not be covered and if he snapped a front tendon or hind ligament I'd not be covered either given what makes up the exclusions. Poor boy is falling apart.

I'm not doing it to make money in the event something happens, I hope it never does. I have the money for another horse anyway.

 

[Clodagh]

I decided on 4k, to me he's priceless but I thought 4k seemed reasonable given the circumstances. I thought it would cover disposal costs with some to spare.

£150 for disposal.

Unless things have changed though they wouldn’t actually pay out £4000. If, heaven forbid, he died next month they’d value him as a retired lame however year old, it would not be £4000 you’d actually get. I haven’t insured a horse for years though so could well be wrong.

 

[Birker2020]

Unless things have changed though they wouldn’t actually pay out £4000. If, heaven forbid, he died next month they’d value him as a retired lame however year old, it would not be £4000 you’d actually get. I haven’t insured a horse for years though so could well be wrong.

You are probably correct. But as it's only £134 for the year I'm not too bothered. I don't know how they work out market value on a retired horse. I haven't a clue.

I've always been paid out on previous horses insured value and never market value. Would market value equate to carcass value then? Sorry to sound so blunt.

 

[Red-1]

The one you have has no vets fees at all. The WHW one has accidental injury vets fees. The exclusions don't matter for accidental injury, they would cover him if he ran through a fence or something, or got kicked.

I decided on 4k, to me he's priceless but I thought 4k seemed reasonable given the circumstances. I thought it would cover pts and disposal costs with some to spare.

Covered for £175 for disposal.

I asked her how much I should value him for but of course she couldn't tell me.

He's got 9 exclusions, so unless he broke a leg or died from lightning bolt I'd get nothing anyway. If he broke his neck, pelvis, SI, hocks or back I'd not be covered and if he snapped a front tendon or hind ligament I'd not be covered either given what makes up the exclusions. Poor boy is falling apart.

I'm not doing it to make money in the event something happens, I hope it never does. I have the money for another horse anyway.

I think the vets fees, with 3rd party cover, would be more useful than a market value on a horse that is retired. Just because you insure for 4K, it doesn't mean they will pay that.

 

[Birker2020]

You are probably correct. But as it's only £134 for the year I'm not too bothered. I don't know how they work out market value on a retired horse. I haven't a clue.

I've always been paid out on previous horses insured value and never market value. Would market value equate to carcass value then? Sorry to sound so blunt.

Even if they only gave me £500 market value I would still benefit.

The one you have has no vets fees at all. The WHW one has accidental injury vets fees. The exclusions don't matter for accidental injury, they would cover him if he ran through a fence or something, or got kicked.

I think the vets fees, with 3rd party cover, would be more useful than a market value on a horse that is retired. Just because you insure for 4K, it doesn't mean they will pay that.

Point taken. I need to have a think.

 

[scats]

Is it worth insuring him when he has so many exclusions?
I had Polly’s value set at £100 as she’s essentially worthless (sorry Polly!), but I’ve just cancelled completely as her premiums had gone up and it’s just not worth it.
I wouldn’t put her through colic surgery anyway, or anything invasive or requiring tests/box rest. She has a lot of exclusions so it really seemed pointless.
I have a credit card if she needs anything within reason.

 

[Red-1]

Is it worth insuring him when he has so many exclusions?
I had Polly’s value set at £100 as she’s essentially worthless (sorry Polly!), but I’ve just cancelled completely as her premiums had gone up and it’s just not worth it.
I wouldn’t put her through colic surgery anyway, or anything invasive or requiring tests/box rest. She has a lot of exclusions so it really seemed pointless.
I have a credit card if she needs anything within reason.

Rigs is on 3rd party only. I have savings to fund any vets bills as everything would be excluded. I am, however, considering swapping to the WHW cover, especially as both horses would be covered for the same £.

 

[Birker2020]

Is it worth insuring him when he has so many exclusions?
I had Polly’s value set at £100 as she’s essentially worthless (sorry Polly!), but I’ve just cancelled completely as her premiums had gone up and it’s just not worth it.
I wouldn’t put her through colic surgery anyway, or anything invasive or requiring tests/box rest. She has a lot of exclusions so it really seemed pointless.
I have a credit card if she needs anything within reason.

I don't know. I was kind of put on the spot a bit, it came as a shock as I'd obviously paid a premium that should have been reduced at the time I informed them he was retired on April 1st 2023! Instead of paying £35 a month more than was necessary which is annoying. I assume they can make mid term changes, they can with other forms of insurance although I know there is normally a fee involved.

 

[criso]

Is it worth insuring him when he has so many exclusions?
I had Polly’s value set at £100 as she’s essentially worthless (sorry Polly!), but I’ve just cancelled completely as her premiums had gone up and it’s just not worth it.
I wouldn’t put her through colic surgery anyway, or anything invasive or requiring tests/box rest. She has a lot of exclusions so it really seemed pointless.
I have a credit card if she needs anything within reason.

That's where external injury/catastrophe cover policies are useful. I had so many exclusions. Even a kick if it involves out of hours callout, stitches, x rays, antibiotics and pain relief and a few visits can easily go over 1k.

 

[eggs]

I took up WHW membership last year as I stopped insuring my horses a few years ago and have set money aside each month to cover vet costs. Like Red-1 I also think the WHW is one of the more clued up charities so I am happy to support them.

@Birker - essentially if your horse is pts and meets BEVA guidelines then insurance will pay out for pts and disposal costs (usually there is a cap on the disposal cost they will pay). They will also pay out 'market value or sum insured whichever is the lesser'. Firstly BEVA is a high bar and a lot of pts decisions do not meet them. If the underwriters decided that it does not meet BEVA guidelines then you will not get paid for the pts or disposal costs. I am afraid to say that you would not get £4k for Lari as his market value is significantly lower.

 

[Birker2020]

@Birker - essentially if your horse is pts and meets BEVA guidelines then insurance will pay out for pts and disposal costs (usually there is a cap on the disposal cost they will pay). They will also pay out 'market value or sum insured whichever is the lesser'. Firstly BEVA is a high bar and a lot of pts decisions do not meet them. If the underwriters decided that it does not meet BEVA guidelines then you will not get paid for the pts or disposal costs. I am afraid to say that you would not get £4k for Lari as his market value is significantly lower.

Yes I am clued up on BEVA guidelines having lost four horses all of whom were covered under the guidelines, even my wobbler horse met BEVA guidelines.

I know I probably wouldn't get 4K for Lari if anything happened but in the absence of not knowing how much he is worth and nobody at SEIB being able to give me a figure I have to come up with something.