Insurance claim question

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LadyRascasse

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Hello,

QQ my horse is insured and we are currently claiming (successful claim which has been paid out in full but still on going) his renewal has come through and I am not happy with the terms or the price increase. I will be phoning them to see if there is anything we can do but my question is "if" I don't renew my policy do they still have to pay out on this claim until the 12 month period? This policy has been paid in full (11 monthly installments all paid on time)
 
LadyRascasse said:
Hello,

QQ my horse is insured and we are currently claiming (successful claim which has been paid out in full but still on going) his renewal has come through and I am not happy with the terms or the price increase. I will be phoning them to see if there is anything we can do but my question is "if" I don't renew my policy do they still have to pay out on this claim until the 12 month period? This policy has been paid in full (11 monthly installments all paid on time)
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Hi, im not an expert on insurance, but why would they if you havnt renewed with them? Someone I knew changed insurance in middle of ongoing issues and got hit hard with vets bills because the issue was excluded with new insurer. I would think if you think you may need to claim again in next twelve months then you should stay with current insurer, it may work out much cheaper than moving to one with lower premium but with the exclusions that you will no doubt have.
 
I am thinking of not insuring any more and saving the money, I wouldn't be making a new claim its still and ongoing claim and the why should they part is irreverent. I have paid for a full years insurance the incident happened towards the beginning (4 months in to policy) the terms are 12 months from the date of injury or £5000 whichever is sooner suggesting to me that they should pay until the 12th of January for the current claim which they he is undergoing treatment for. I was hoping someone on here has done it at some point and would know whether they do or not.
 
I believe they would still pay it as you have paid your premium for that cover.

I work in equine insurance. We offer a vet fee policy and if they don't renew we still honour the 12 months to claim, as long as we are told of the injury/illness before the expiry of the policy
 
Illusion100 said:
Yes, they still have to pay out for current claim even if you don't renew with them.
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I really didnt know that so Im glad this thread appeared and I will remember this for future reference, although im left wondering if the person I knew made a huge mistake , was shafted by previous ins co or the circumstances were different to the OP. Think i might ask him for the details just to try and get my head around this.
 
On the hoof said:
I really didnt know that so Im glad this thread appeared and I will remember this for future reference, although im left wondering if the person I knew made a huge mistake , was shafted by previous ins co or the circumstances were different to the OP. Think i might ask him for the details just to try and get my head around this.
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Did they cancel mid-term or did they just simply not renew?
 
They would only pay to the date your current policy runs to. SO I'm guessing you've paid till about the end of August, your renewal is from September-ish? And your claim was started in January. So if you didn't renew I would say they would pay for any treatment up to the end of your policy in August/September. If you put the claim in after you are no longer insured they will still pay if the treatment occurred when you were insured. However, if say you needed another vet visit for that condition after you had switched insurer then they wouldn't pay.
 
I did this last year.

I had a claim which started in August 2013 however I did not renew when it came up for renewal in Sept 2013. I paid annually in advance not in monthly installments. I was not insuring as with his history and given he was retiring it didn't make sense. It would be more complicated if you were swapping insurers

They paid out for a follow up visit after that and would have paid out for the full vets fees if he needed more and expensive treatment. They confirmed before I decided not to renew that he was covered as the claim fell in that insurance year and he was covered for 12 months of this ailment up to August 2014.

This was with NFU
 
Fuzzypuff said:
They would only pay to the date your current policy runs to. SO I'm guessing you've paid till about the end of August, your renewal is from September-ish? And your claim was started in January. So if you didn't renew I would say they would pay for any treatment up to the end of your policy in August/September. If you put the claim in after you are no longer insured they will still pay if the treatment occurred when you were insured. However, if say you needed another vet visit for that condition after you had switched insurer then they wouldn't pay.
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this makes sense to me and is how small animal insurance works
 
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