Insurance, anyone not bother?

Honey08

Honey08

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I've just had my renewal through from KBIS and my 16 year old is considered old and they will only pay out 75% from now on, even though their premiums are going up by £12 a month! As my cover is up to £3k it means they won't be paying much at all. They already exclude every tiny thing that occurred years ago. I have never claimed in my life and neither horse had has any serious illnesses or lameness in the 9 yrs I've had them.

So I'm thinking of putting a couple of hundred away each month instead. I have a credit card with enough available in the meantime, and a policy that will mature in 18 months.

If I go down the BHS gold cover will it cover my husband and stepson too or will they need to be members as well? I think I need to ring them for a chat!
 
My boy no longer has medical cover. You need to decide at what point you don't want to spend money on them. The first year I cancelled his insurance, my boy gad a lammie episode. First one for 3 years. My vet wanted to do the usual bad rest, X-rays, etc. he wasn't insured and my question was "what are the X-rays going to do"? Answer was to see if there was more pedal bone rotation. Now as my boy was semi-retired this seemed pointless - he was either going to cope with the going or he wasn't and X-rays were not going to help with that decision. So as he was not insured he didn't have them. If I still had insure he would have gad them - but treatment would not gave changed
 
I put a certain amount each month to cover vet fees which was a good job as I've just had one for £1800.00. I have BHS gold membership and OH gets a discounted rate as a member as well, which covers the 3rd party insurance and gets their legal cover. The BHS do family membership which covers everyone in your family so if you all ride then this may be the best way for you to do it. I think ours worked out at £80.00ish for the year for both of us, but OH's wasn't for the whole year as he's just had his own horse.
 
Mine isn't, only 3rd party. I got her when I was still at school and so Dad paid for her, it was his decision not to. I think at the beginning he put money aside for her each month, but he has stopped when I left uni but has said he'll keep the money incase anything does happen. She's 18 now and retired so really if she becomes uncomfortable in a serious way I will also consider PTS.
 
Have to say I often wonder why I bother. My last boy who was PTS :( was insured but the insurers wouldnt pay out as not BEVA guidelines, although the vets gave a grave prognosis and said it was the kindest thing to do. I insure mainly for vets fees and 3rd party liability cover and just feel its a safety net really and despite my recent bad experience have had to make a couple of major claims that well exceed what I have paid over the years.
 
Check your house insurance. Most seem to cover third party for all residents of the house for all horse activities except hunting or if you are paid for them.

I don't insure. It makes no economic sense long term for two horses or more, and I don't want to be told by an insurance company what I can and can't do with my own horses.

Cheapest third party insurance last time I looked was by becoming an associate of British Dressage.
 
I don't insure other than BHS Gold, but we do insure our loan horse. We own three horses... It just isn't affordable to pay out each month on insurance premiums. For the three we own, I would pay out whatever it took for my five year old, the three year old will be for sale in a couple of weeks once he's hacking out so I will pay out for standard stuff and hope he finds a great new home soon! As much as I love my 22 year old I wouldn't put him through any big operation at his age , whether or not he was insured. My credit card will bear the brunt if the need arises.
 
I do, but it costs more than my car insurance, and as the horse is now essentially worthless and 14 years old I am wondering if I should bother. I won't put him through lengthy rehab or box rest again. Emergency surgery I might depending on what it was.

My two WHW ponies have their liability cover but nothing else, and as they're only youngsters and just in the field really I'm not sure what to do really.
 
Suelin said:
This. Vet cover just is a rip off I believe.
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The vet cover is the only part, other than 3rd party which you can get elsewhere, that I think is not a rip off as long as you have no exclusions, the death, theft etc is as they rarely pay out for death as it has to meet guidelines not many genuinely do and not many get stolen but it is easy to get a vet bill running up extremely quickly, a horse costing a few hundred to insure each year could cost the insurance company thousands, I do not insure but if I only had one I probably would.

I agree with cptrayes that it is good to be in control as far as treatment goes.
 
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Yes, but on the other hand, my two and a trailer have cost me £10k in insurance over the past nine years and I've never claimed a thing. For every case that has claimed a lot on a treatment I bet there are ten more that haven't!
 
Very few people have vet cover in NZ, or indeed third party for horses. I've owned horses for 35 years and never had it - if there was a policy that covered the big stuff, colic surgery, for example I would consider it. I only know of one person who had it for an imported stallion, but at over $600 per annum, it was way more than I would spend.
 
Honey08 said:
I've just had my renewal through from KBIS and my 16 year old is considered old and they will only pay out 75% from now on, even though their premiums are going up by £12 a month! As my cover is up to £3k it means they won't be paying much at all. They already exclude every tiny thing that occurred years ago. I have never claimed in my life and neither horse had has any serious illnesses or lameness in the 9 yrs I've had them.

So I'm thinking of putting a couple of hundred away each month instead. I have a credit card with enough available in the meantime, and a policy that will mature in 18 months.

If I go down the BHS gold cover will it cover my husband and stepson too or will they need to be members as well? I think I need to ring them for a chat!
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Haven't bothered with insurance for this very reason for years! I have BHS gold membership as it's compulsory to have at least third party liability cover to be on our yard and tbh I think it would be madness not to have this as a minimum.
 
Great question! I'm also dithering about this one. My premiums are due for renewal in September.

The livery yard owner said colic surgery costs around £7k now so even if you went for the big one - my £5k vet cover wouldn't cover it anyway!

I've made one tiny claim for £500 in almost 3 years for a bad kick injury that required scanning and fair amount of treatment as it damaged the tendon sheath and my premiums have gone up by £20 a month in last 3 years. Now almost £75 a month!

So just done some quick maths and I've paid in almost £2.2k in nearly 3 years. Eeek!

Making me think as I have BHS Gold membership and agree you need third party liability or you could end up with a £million bill if your horse escapes or injures a member of the public!

I will need to have a serious think before I renew in September as I bet premium will hike again even with no claims in last 12 months!

I ensure my tack on home insurance as new for old whereas all horse policies is market value so you'd get diddly-squat for your tack! I have an Albion bridle and breastplate that would cost £250 to replace and insurer told me I would get about £50. Ridiculous!!!!!
 
I pay £58 a month,which is hideous. I have lots of exclusions too due to previous injuries and claims. I do think maybe this year it will get cancelled and I'll join the bhs. If it was stitches or anything like that, I'd stump up the cash, anything more involved, colic surgery etc (one of the big problems that cannot be solved with time and field rest) I'd have to think long and hard about anyway
 
Not for vets fees....IMO they try to wriggle out of paying then exclude you following a claim.
And if you get the vet out for something and don't claim you still have to inform them....and risk an exclusion anyway.

The one time I claimed they wanted to put my veteran horse through colic surgery costing££££££ rather than let me PTS and pay out his life cover which was significantly less'....I thought it was dreadful that they would put him through that so I PTS anyway as it was in his best interests'. My vet was disgusted with them and wrote a strongly worded letter and they did pay out in the end. Thank you Pet Plan for making a very upsetting situation much much worse. For that reason I don't insure..I make my own decisions based on the horse not what insurance will pay for
 
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Hippona said:
Not for vets fees....IMO they try to wriggle out of paying then exclude you following a claim.
And if you get the vet out for something and don't claim you still have to inform them....and risk an exclusion anyway.

The one time I claimed they wanted to put my veteran horse through colic surgery costing££££££ rather than let me PTS and pay out his life cover which was significantly less'....I thought it was dreadful that they would put him through that so I PTS anyway as it was in his best interests'. My very was disgusted with them and wrote a strongly worded letter and they did pay out in the end. Thank you Pet Plan for making a very upsetting situation much much worse. For that reason I don't insure..I make my own decisions based on the horse not what insurance will pay for
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Really good point. I have heard so many people say they don't pay for live cover/death if you choose to PTS. The more I read and think about the more I think I will just save £100 a month myself as have a bit of savings and always my credit card.

Colic surgery even for my 8 year old would mean 6 months box rest and he lives out 24/7 now so not sure he would cope with it at all :-(
 
Good thread, and a dilemma I have every year.

Mine are insured, only have Jay at the moment, and his cover was going to be over £100 a month under our previous cover. Now I have downed his value. I do wonder what effect this would have if I tried to claim though?

I told the insurer (true) that although I bought him for a huge amount of money, since then I have had a bad back and he has done little. Now he is 9 years old I doubt he is worth much as a "potential" anything. To me he is worth the world, he looks after me and has potential to be whatever I want, but if my back stays as it is I suspect he will be doing little! So, little market value.

Next year I will half his value again, this time from 4K to 2K. To me it is just about the vets cover. As far as third party goes I believe I am covered through his insurance, through my house insurance, through BHS Gold, through BE, through BD and through BS!!! It is because we are not doing high level at anything that we have been having a good time doing a bit of everything.

If I had not insured but had set aside the money then I would have more than I am now covered for. And, there have been thongs which were not urgent, but I would have liked to discuss with a vet, and I have not for fear of an exclusion. That seems wrong, and s one reason that I have considered withdrawing from insurance.

When with Pet Plan I also had a situation where they would have paid out for expensive treatment but not for PTS, which was cheaper. I also chose PTS as I believed it to be for the best. It also did not make the decision easier, as it was like the company was judging in some way. I don't think this is just Pet Plan though, I think it is all policies.
 
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SteadyNeddy1070 said:
Really good point. I have heard so many people say they don't pay for live cover/death if you choose to PTS. The more I read and think about the more I think I will just save £100 a month myself as have a bit of savings and always my credit card.

Colic surgery even for my 8 year old would mean 6 months box rest and he lives out 24/7 now so not sure he would cope with it at all :-(
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Mine would not have coped with the box rest, it would have finished him off.
He went downhill so fast that had I boxed him up to send him off for surgery he would have died halfway along the M62 before getting to Liverpool....how is that right?
 
Red-1 said:
I also had a situation where they would have paid out for expensive treatment but not for PTS, which was cheaper. I also chose PTS as I believed it to be for the best. It also did not make the decision easier, as it was like the company was judging in some way. I don't think this is just Pet Plan though, I think it is all policies.
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Exactly this.....I felt judged, like I wanted him PTS for financial gain, not because he was suffering and other factors meant surgery was not in his best interest....his age, his temperament, his ability to cope with box rest.....
 
I agree it does stop you from calling vet for a chat about a minor concern as you feel it will be excluded. I had them look at splints my 5 year threw and no doubt his legs are all excluded now. LOL! :-)
 
Hippona said:
Exactly this.....I felt judged, like I wanted him PTS for financial gain, not because he was suffering and other factors meant surgery was not in his best interest....his age, his temperament, his ability to cope with box rest.....
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Totally wrong on all counts! You should be able to make best decision for the horse not follow an insurance company's rigid policy.
 
I dont. BHS gold for third party and then savings account for vet bills. I always have more than one horse and they exclude so much, or just put premiums up for no reason.
 
I gave up when more bits of my horse were excluded then were covered! I joined the BHS so am covered by that. I have had one big bill of £2000 but I managed. Over the years I have saved more then that.
if I was doing something like xc I might think again.
 
I took my old boy off my policy about 2.5 yrs ago, thinking I'd wouldn't be putting him through surgery anyway, and he was covered for accident-only as he was 29. A few weeks later he got kicked in the face and it cost me about £1k! I had always insured him, and got more than my money's worth from the insurance: several colic episodes, and he broke his shoulder; but they never put any exclusions on. I insure G now, it's about £70/month and I've not made a claim in the 3 years I've had him. Did think about taking him off once, and his tendon blew up that week so I didn't!
 
I only have third party.
Insurance only a years grace anyway when stuff goes wrong .
I consider the money I spend on a horse gone the moment I buy it so don't want cover for that.

And I am just totally temperamentally unsuited to having a third party involved when stuff goes wrong I want to what I want when I want, it's between me and the horse with no one else involved .
I pay as I go and have a fund to use if a disaster hit when I was not flush for any other reason and there's always the credit card to get you over a short term hump.
 
I do not have my mare insured. I have an animal account, so to speak. I have never over run on the account now and have been doing this for the last 20 years. I have 1 pony, 4 dogs, which work on the shoots locally, 3 hens and Gloria my goat. I also have gold BHS membership and our household policy covers everything else.
 
I have never insured for vet fees. I have always put some aside instead so I have an emergency fund which does not get touched apart from for vet bills that I couldn't cover myself. Mine is 17 now so can't be covered for death anyway now so stopped that last year.
 
My horse isnt insured. He has every leg excluded and id not put him through colic surgery so it seemed a waste of money. I do have a credit card for real emergencies.
When we buy my daughters next horse i probably will insure that though.
 
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