iNSURANCE ADVICE PLEASE

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chasingmytail

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Getting new horse soon so shopping around for quotes. Money is REALLY tight so need to keep premiums to a minimum but wot do I compromise on? She's only to be used for hacking & riding club stuff. Vets fees, excess, public liability, value of horse cover?
She's costing £3500 but do I need to insure for that amount? I can't afford loss of use cover and I don't cover tack so do I reduce vets fees or increase excess. I don't think I should compromise on public liability? Also, do I risk just having 2 stage rather than 5 stage vetting as I know she passed a 5 stage
in April by same vet I'll. Be using - pure coincidence and not engineered. I'm getting quotes from: Stoneways, Shearwater, KBIS, SEIB, SEIS, Towergate, World Equestrian, NFU, Petplan but as we all know the each offer something slightly different to each other and some are quite rigid in their terms. Oh and E&L who are definitely cheapest but don't seem to have a good name.

Please give me your opinions and help me make a decision.

Thank you for reading this LONG blurb!!
 
Unless it's a huge amount, the actual sum insured cover doesn't make much difference to the overall premium, what whacks it up is the vet's fees cover. You need to decide your priorities (for me vet's fees are the most important thing) and ask for quotes which include them all. Look carefully at the excess each company requires (NFU is currently £130) and what the policy actually covers. For example, NFU will pay for transport to a vet's, if you don't have your own, up to a certain figure and they will also pay 50% of vet's livery costs which a lot of companies don't. You make think this is not important but it can be . . . . .
 
As for the vetting dont going on what you are told,
The horse could pass a 5 stage vetting one and and the fail the next.

Insurance wise ideally you want vets fees, loss of horse, and public liability.
But you can add and take off what you want.

You insure your horse for what you paid for it, if you want to up this then you will need a letter for a professional as proof to say she is now worth £* this much.

If you insure the horse for less than you paid you will only get that amount back if something happens.
And why would you want to insure if for less than you paid if you paid a price that reflected the horse?

Im with NFU and found them great but others say different.
Most people say stay away from E and L they dont have a good name!
 
Sorry peeps, I wasn't very clear when I said vets fees. I meant the level, I.e. Would you always go for the highest of say £5000 or lower? I will definitely have vets fees but not sure if I should risk cover for £3000 and a higher excess to keep premium down?
 
Usually with insurance companies, you must insure you horse for its current market value.
Look at what they offer, for example I know that petplan will cover your horse if you insure it before its 20, then they will insure for injury and illness until its 25, but im not sure about the others.
Its up to you, shop around! :)
 
Just a thought, you may be able to save some money if you already have public liability cover elsewhere. Do not risk not having public liability cover, it is very important, but if you are a BHS Gold member you probably already have cover. I believe that membership of BE/BS/BD and WHW may also include public liability cover.
 
chasingmytail said:
Sorry peeps, I wasn't very clear when I said vets fees. I meant the level, I.e. Would you always go for the highest of say £5000 or lower? I will definitely have vets fees but not sure if I should risk cover for £3000 and a higher excess to keep premium down?
Click to expand...

Go for the higher,
£3000 wont cover much if your horse had a serious illness or injury.
 
I think public liability is automatically included - if it's not, have it.

Personally I'd just insure for vet's fees and go for the maximum.

Don't touch E&L, but I thoroughly recommend NFU.
 
It might also be worth getting a quote from Carragehouse, ive been with them for years they offer good cover have been fantastic on both claims ive had and the preimums are very reasonable
 
DON'T go with E&L. They may be cheap but i've heard from several people that in the event of a claim its very hard to get your money off them.

And the fact that a lot of vets won't settle insurance claims direct with them confirms this!

I would suggest getting the vets fees limit at £5k. I used to work for an equine insurer and after seeing single colic claims that reached over £5k and how much you can rack up with lameness issues and investigations it is definitely worth it.

And after all that, lets hope you never have to use it!
 
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