Horse sale quick advice

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Walnuts

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I have someone who is keen to buy my horse. My horse is insured and has a full passport etc etc. Other than banking the payment for him, what do I need to do to formally transfer ownership across and can my insurance company change the new owner to being the policy holder as the insurance renewal is not due until January. Many thanks in advance as need some quick advice
 
Depends who you're insured with but petplan equine and possibly Scottish equestrian used to allow a transfer of ownership on the insurance
New owner has to have the same cover or less than the old owner but basically takes the insurance into their name, meaning it avoids the 14 day period where the horse isn't fully covered. Both old and new owners have to do declarations. Worth giving your insurer a call and asking.
Or you can just call and cancel it and leave it to the new owner to sort :)
I got a slip of paper just saying I bought fatty, a 14.1 4 year old, tried and tested sold as seen for x amount on y date.
Then I just sent the passport off with a form to change it into my name.
Hope it all goes well
 
chaps89 said:
Depends who you're insured with but petplan equine and possibly Scottish equestrian used to allow a transfer of ownership on the insurance
New owner has to have the same cover or less than the old owner but basically takes the insurance into their name, meaning it avoids the 14 day period where the horse isn't fully covered. Both old and new owners have to do declarations. Worth giving your insurer a call and asking.
Or you can just call and cancel it and leave it to the new owner to sort :)
I got a slip of paper just saying I bought fatty, a 14.1 4 year old, tried and tested sold as seen for x amount on y date.
Then I just sent the passport off with a form to change it into my name.
Hope it all goes well
Click to expand...

With one horse I bought, that I'd had on loan first, I kept the same insurance company, they knew the history and didn't require a vetting. But I think it was a new policy, as in my name. It was a bit annoying as there were some minor exclusions, but DPA meant they were reluctant to give me full details.
 
That's why the original owner has to do a declaration first - as essentially the new owner will then have access to the policy, so it's to give consent for that :)
It will totally depend on who the insurer is.
And of course the current policy may not suit the new owner anyway (horse maybe going from hacking to RC home so needs different level of cover or current owner doesn't insure for vet fees but new owner will as examples) but until you speak to them you don't know.
It may have changed as well with GDPR also.
 
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