Insurance dilemma WWYD?

pistolpete

pistolpete

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My horse's insurance has gone up to £111 a month! Thought I could get a cheaper quote but on investigation it seems no one wants to risk us!
Question is carry on paying that or put it in a savings pot for him and hope it's enough. He is 15 a KWPN with navicular changes in his feet and a history of ataxia. Back in full work now as a happy hacker.
I have BHS gold membership for third party and could buy more third party cover cheaply. Could also buy a colic only cover but not sure I would put him through colic surgery with his history.
 
Wow, what value do you have for him and what's the excess? Pre existing conditions will be excluded anyway so I'm not sure why companies think you are any more risky than anyone else?
 
Always difficult..... Have you pruned any unneeded extras from your quote? If you have BHS third party insurance then there is no need to duplicate that. If you only hack then make sure you are not paying for other activities. Is the horse's value realistic given his problems?
I think I would be opening a little savings account for the horse.
 
My personal opinion is if I owned a horse of that age and with that type of veterinary history, then I wouldn't be looking to operate at all or do full on performance work ups. For that reason I wouldn't be insuring. I'd keep a small lot of money aside for minor external injuries and then I'm afraid anything else would be horsey heaven. That is a decision I have taken already on one of mine.
 
Thanks for honesty folks. He isn't insured for loss of use and only £1000 tack. I really don't understand why they won't take him on. So gutted. Just want to do the best for him but he is just not worth the expensive policy! Thing is if he needs an eye op or something I will be massively out of pocket!
 
Who are you insured with now? I would try an insurance broker who can look round the market for you as there are various companies who only deal via brokers, not direct with the public. Try Julie Andrews maybe. Or, alternatively a broker called Bargate Holroyd - the lady who runs it (Sue Holroyd) has horses and has access to various horse insurers. They should still look to cover you, they usually just exclude existing conditions. As for tack - check of this could be insured under your household insurance instead as to be honest, the cover under horse policies is pretty tight anyway - it is generally only covered if stolen in specific circumstances.
 
Just make sure you do actually put that amount into savings for vet fees if you dont insure.To be honest,if you wouldn't go the major surgery route then the £1000-1200 per year that you would spend on insurance should usually cover almost anything needed and start to accumulate a stash. To remove an eye is often only about £800,bad leg wounds can run to similar so it should be possible to keep most things within that sort of price range. The only thing which regularly runs to thousands is sinus issues -but these usually exceed insurance cover too. In your case Id save it and be carefulwhat sort of treatment you go for should you need it..
 
I understand why they won't take him on - navicular changes so more likely to go lame. ataxia history so likely to go down with that at some point and he's 15 so at the age most insurers wont take them on as increased risk of illness. Just saying that's from their point of view.
tbh I'd put the money away and maybe have a credit card available.
 
I'd do same as the others suggest - savings monthly - and an empty credit card for the true dire emergency (till your savings have reached a 'limit) with a cut-off on limit of spending ££'s (as you say no colic ops etc)

Hope you find a right way to suit.
 
Just spoke to broker again, can get injury only cover but she virtually agreed with me that I am better off saving my money! Horses eh?
 
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