Horse insurance gurus??

Hels_Bells

Hels_Bells

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Am just looking into insurance for my loan horse and am wondering if anyone could advise me on what I should/should not be including?

I just did a quote on the petplan website and it came out at £118 per month :eek: for Vets fees to £5000, 3rd Party liability to £1m, and loss of use to his value at £5000 (Value is my guess - 13yo, gelding, 16.1hh WB, Pre-Novice Eventer going novice next season for the first time - sound about right?).

I just can't afford £118 per month for insurance but would very much like to get cover in case of huge vets fees The other vets fees option is up to £3500, I am not sure if that is a good level of cover, I'd feel happier with the £5000. Also is 3rd Party liability a foolish thing to remove? Finally, given he's on loan, should I scrap the loss of use? If he did become unrideable etc for any reason I would still keep him as a pet if possible but obv I guess I wouldn't see any money as I'm not the legal owner?? Is scrapping it likely to reduce the ins premium significantly?

The owner says he isn't too fussed about insurance other than the 3rd party liability (obv I would check with him if I was going to scrap it - I currently pay £19.00 per month for 3rd party liab for horse). But vets fees etc are my responsibilty.

Not really sure what I should be including/where I can cut back!! Thanks for reading, home made chocolate brownies for one and all!!!:D
 
Try the NFU, I have all of the above, but think higher liabilities etc 3 mill I think and LOU on my £8k horse and it costs about £1000, with this said I am paying a higher than normal premium for all of mine due to all Henry's claims last year £15k!! Personally I would take LOU off if you will keep him as a pet (all Hen's problems and losing another last year, I took it out on my eventer!)

You must have the 3rd party liability, and keep the 5k vets as the 3.5 wont cover colic op or quite a few other things.

xx
 
I don't have LOU for my loan horse and only have £500 for death, as that was the lowest I could get. Mine is insured with Amtrust who I can thoroughly recommend. Speak to them on the phone though - I always think the quotes you get on websites are a bit random.

Don't remove 3rd party liability - this is for if say your horse gets out onto the road and injures someone, kicks a car etc.

Keep £5000 vets fees. I personally don't like Petplant; don't like how they are on the phone when you speak to them, I find they are only concerned with getting the sale and not with making sure you get the right cover for your horse. Also saw them getting a slating on Watchdog last week!
 
Definitely give AmTrust a ring, they have been brilliant with my horse & his many claims. There all horsey people as well who answer your calls & it makes a big differance.
 
Yes the LOU will at least double the price! I use NFU for all of mine apart from a little colt - just turned gelding that I have bought. Most wanted at least £500 to insure him, basically for being a youngster in the field! Petplan were the only one that had a basic cover for him which ended up £260, he has full 5k vets, insured for 2k, 3rd part liability, cover for injury (personal). When however he gets to the age that he can start some kind of work or we want to show him, I would imagine that I would revert back to the NFU.
 
Thanks v much folks, just did a quote with Amtrust and it came in well under half the original quote I did with LOU which is much more in my price range!!! They can also vary it depeding on excess, so it becomes quite low mothly payment if I want that option! They were also really nice and helpful and easy going, not at all pushy. Big thumbs up!
 
If it is a loan horse then I would not take out loss of use insurance on it unless the loaners have made this part of the loan contract. The horse is not yours so, should it not be able to continue a competitive life then you would not be entitled to the LOU settlement, this would be due to the owner of the horse as it essentially covers the value of the horse which THEY would have lost not you.
 
Be aware that if you chose the option on excess as £130/17% that means you pay min of £130 or upto 17% of total claim which ever is the highest.

so if horse had bills amounting to £5000 that would be 5 x £170
 
Thanks soulful, I got my calc out after I spoke to them and it would be about £800 for a 17% claim on a £5000 bill which is a lot, so I will probably just pay a bit extra and not do the variable option.

Thanks Lady T, you quite are right, dropping the LOU has made a huge difference!
 
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