Insurance advice please!

[nativepony]

Just having an insurance dilemma. Have both horses insured though Pet Plan - one is in full work and kept on a livery yard, she has no exclusions. The other is retired (not through age, she is 11 but rescued and riding was just too traumatic for her), and kept on grass livery, she has exclusions for ulcers, (she had grade 4), colic and I think laminitis as she suffered a bout and I called the vet so would have gone on her record. They are both fully insured but thinking it may be better to leave first horse as she is but cancel my retired horses insurance altogether and join the BHS so she is covered for public liability - or maybe BHS and keep insurance with Pet Plan for accident only in case something happens in the field?? Anyone got any advice please....

 

[Shay]

Unless you need loss of use for a high value competition horse insurance is now a stacked bet against the house. If you can put the money you would have spent on insurance aside within a year or two you will have sufficient saved to meet most of what insurance would have covered. In the meantime with a bit of google you can get 0% credit cards and transfer any remaining balance.

Don't remove decent public liability - that's the only bit you can't reasonably replace. BHS / PC is fine. But watch out for the levels on things like WHW or harry hall.

 

[be positive]

I would keep the one in work fully insured and cancel the other one just keeping Pl, you need to take a realistic approach and only treat what you consider sensible, she is retired so most incidents are likely to be relatively minor the bills that add up are investigations for loss of performance or niggling lameness neither or which are likely to occur if she is doing nothing, major colic or a bad laminitic bout then pts needs to be considered, you have given her a good life and there is no need to feel you are failing her if you call it a day rather than put her through intensive treatment and box rest.

The money saved can build up a cushion to either treat her if you want or to start a self funding plan for your other horse.

 

[AFB]

If you do take out a BHS policy remember you can drop the PL off of your insured horses PP policy.

 

[Sandstone1]

Im pretty much having same dilemma. Companion pony now has exclusions for lammi cushings ems and teeth.
Not yet decided but thinking of cancelling.

 

[Apercrumbie]

Im pretty much having same dilemma. Companion pony now has exclusions for lammi cushings ems and teeth.
Not yet decided but thinking of cancelling.

Do you have savings that could cover a reasonable vet bill? If so, I would cancel insurance and start putting money aside monthly to make a vet bill pot. Obviously this depends on what you would do in certain circumstances eg. would you go for colic surgery, extensive rehab after a broken bone etc. If the answer to those questions is no then I would definitely cancel.

OP in your position I would probably cancel insurance for the retired one and consider doing the same for the other. The questions I've asked above are good ones to ask of yourself too to give yourself a steer.

 

[SEL]

I only insure the one in work - and right now she's had more back from the insurers in the past 3 years than I've paid out in premiums (this year's list of exclusions will be fun)

I don't insure the retired one. I have a savings account for both of them for stuff that isn't covered by the insurance and that will pick up anything like injuries etc that will need the vet. He's very arthritic so he'd end up with a list of exclusions and high premiums, plus I wouldn't put him through an operation.

 

[nativepony]

Thanks so much everyone - very helpful 😊

 

[mystiandsunny]

I am considering dropping my two older ones to veteran cover (accidental injuries only) and putting the money saved into an account. One is excluded for colic, ulcers, laminitis, and arthritis already - and she is now mostly retired. The other is in work but only ever gets the same problem, recurring over and over again. Insurance works fine if you only have horses for a few years, then sell and buy another (like with children's ponies).

 

[scats]

I did this with the hooligan and I will be doing it with Diva when her policy is due for renewal. I have third party through the BHS and a credit card for emergencies anyway. I wouldn’t put her through anything that was going to cost thousands/require a lot of box rest or invasive treatment.

I am tempted to do the same with Polly and just keep Millie’s insurance going.

 

[milliepops]

I too only insure my ridden ones. The old girls have 3rd party but that's it. If something requires expensive treatment/box rest etc then a difficult decision will be made, neither would cope well with being cooped up now and they are just companions for each other in their dotage :wink3:

 

[splashgirl45]

i cancelled my old mares insurance when she was 18 as the premiums had gone up alot and so much was excluded.. i wouldnt have put her through extended box rest or operations so managed with my credit card till she was PTS at age 25. i always got her any treatment required just the same as if i had insurance so the only thing that suffered was my credit card balance which i am still paying off!!!!!!

 

[JulesRules]

Have you considered catastrophe cover which covers for accidental external injuries, plus a couple of things including colic surgery. You can add PL on if required. I've just swapped my mare onto this as I had to cut costs due to buying a 2nd horse. It was less than half what I was paying before and she has so many exclusions I was getting to the pointless stage with her insurance.

https://www.kbis.co.uk/new-catastrophe-cover