How much do you pay for insurance?

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IsabelleJ

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So, I am hoping to have my potential horse vetted this week, and have been looking at quotes for insurance. Bloody hell, I never realised how expensive it was! Including 100% loss of use on a £7000 horse with use of unaff and aff jumping and dressage under elementary level it came to £1000 from PetPlan!

I can get it down to about £700 by taking loss of use off entirely, but that's still rather expensive and I really would like loss of use. Does everyone else's insurance come to that much? What would people recommend about whether to get Loss of use or not? Hubby hit the roof when I told him how much the quote was (BIG mistake, eh? Should have thought of that!) and tells me that I'm mad paying that much just so that I can tell people I have a horse! Doesn't really get the point of it, does he?
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Isabelle
 
I wouldn't go for loss of use. I've been advised that loss of use is not easy to prove and the insurance company will own the horse if you ever use this and by doing so will end make the decision on what happens to the horse.
 
At the moment £450, and thats just for 2 NF ponies and my WB, but my mums being paying for that. But from next year I'm paying it, so I've decided not to insure and I'll just put £500 into a bank account. 1. Because all 3 horses will be 15 or over and 2. I have 3 other horses which aren't insured anyway.

Sure it's a risk but TBTH I'd rather take a risk than pay the insurers who are a bunch of ******** £500 per year.
 
Mine is £550 for a 4k horse without loss of use..... and with vets treatment from last year hitting the 7k mark I am glad that I had it
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Its with NFU who I have found to be great for paying out.
 
I've just insured my horse for less than what Id actually sell him for (if I did - and thus his value?) because of this very reason of cost!

Ive gone with NFU as they were cheapest and also people on here recommended them best for service. Its costing me £88 I believe per month, for loss of use & animal and vets bills. Horse valued at £8k.
 
i insure my mare for £800 with nfu and its about £20 a month

she has £5000 vets bills with that

but if she died i wouldnt even be able to buy a shetland with £800 but thats what i payed for her 7yrs ago

maybe i should up that i keep meaning to!
 
Mine is £600 for a 5k horse without loss of use. Never bother with loss of use because it's so difficult and they can insist the horse is put down anyway.
 
I pay £35 a month and don't have any loss of use. I managed to buy my horse for 3k, and have him insured for this, even though he is wirth more like 6k, just to keep insurance costs dwn
 
So how does insuring them for less than their value work? You just get less if they end up dying or being stolen?

Sounds like I might want to avoid loss of use. Thanks for all the advice!

Isabelle
 
ive just upped otto's value to £4000 and premiums are now £65 a month so about £780 a year.he is insured for everything and thats with SEIB. the £1800 pony cost 400 a year and the premiums on the new mare wont be much less than otto's.again these 2 are insured for everything
 
I would go they other way and say either do include LOU if you insure for a realistic value or just insure for a nominal amount (I use £1000) and only have death and vets fees. The reason behind this is that death on a normal policy is only on Humane grounds not economical so if your expensive gelding became a paddock ornament but was not in immidiate distress you would not be covered anyway.
 
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