Horse Insurance - Loss of Use

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Eccles

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How many of you insure for loss of use and if so is it 75% or 100% LOU? My horse costs me a fortune to insure as it is - and I can't really stretch to this as well.. although I'm permanently panicking that I should cover him for this. Does it depend on the value of your horse? So what is your horse insured for and how comprehensively is he/she covered? Replies gratefully received!
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I don't have my boy insured for LOU and he's got so many exclusions on his insurance I'm beginning to wonder if its worth insuring him anymore. I suppose his noggin and legs are still covered and he's only five.
However I've definatly had my money's worth out of my insurers, its been about £13000 so far, expensive little worm!
 
We do now after a horse we bought went lame 3 weeks later and ended up having navicular. We lost all our money on him so the horse we bought after him technically cost twice as much as she did and we now have her insured for LOU.

I'm not sure how much extra it costs but i wouldn't have another one with out it being insured for LOU.
 
NFU paid us out 80% LOU on our pony if that's any help.

I had heard that LOU claims are generally quite contentious, with insurance companies holding out on paying up, but NFU paid out on reciept of a letter from our vet, no probs.

That said, our pony was only insured for £1000 (we got £800 payment), and she had already cost the insurers nearly that in vets fees, so I suppose it made more financial sense to pay out rather than pay out for £1000s more in ongoing vets fees.

Perhaps it would be more difficult to get LOU on a valuable horse?
 
I don't have LOU on Sam because he is still an unbroken youngster.That said if I was out competing with him then it is something I would insist on.After all it costs alot of money to replace a competition horse.
 
I've just got partial LOU on my 15 year old horse. He's insured for £4,500. He has kissing spines, NFU paid out £2500 for unsuccessful treatment, and so I applied for LOU, backed by a letter from my vet who stated that he was still suitable for hacking. A vet who acts between NFU and the insured rang me up to find out what I had been doing with the horse before he got KS, and after I'd told him about lessons, RC activities, success at unaffiliated dressage etc, came up with an offer of £3000 for LOU, assuming that the horse is still worth £1500. I queried this as he isn't exactly saleable with the condition that he has but overall was satisfied as in total I've had £5500 worth of claims. Also was told that as I was insured for 80% loss of use the max I would have got is £3600 anyway. I'm just about to put him out on loan to a hacking home and then will look for something else, on which I will certainly have LOU cover again. Would also definately use NFU again as they have been brilliant at paying up throughout.
 
The insurance just seems to be getting so expensive Dubble, I have been lucky and haven't had a claim for ages and ages and when I think about how much I have paid to the insurance company over the years, I wonder if I'd had been better just putting that money aside in a high interest account!! I did claim loss of use years ago on event horse (was a headshaker/foot problems) and that wasn't too contentious, but to be honest, they'd paid out a fortune for him over the years!
 
I claimed 75% LOU on Mac after his vets bills has already hit near the £10k mark. They paid out no quibbles.
This was through AM Trust Equine formlery part of Equetrian Direct, I would recommend both companies.
New boy is not insured for LOU yet , am hoping to add that next year.

Mac was the first horse I insured for LOU and I claimed on it, previous horses I would have cliamed for to had I insured them LOU.

Premiums do now have more of an affect though so I can only insure them for what I can afford to pay. Vets bills ithe big one I insure for.
 
Hi Tass, I have only heard good things about NFU, am with Equestrian Direct at the moment, and wonder if maybe they are not that competitive.

Thank you all I think I should maybe bite the bullet and get him insured for LOU as well.
 
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