Insurance for a horse on loan

[Marigold4]

How does insurance work when you put a horse on loan? Do you just say in the contract ghat the lianer is tesponsible for vet fees? Presumably, only the actual owner can insure, not the loaner?

On another note, anyone have experience of the BHS loan contract? Is this a good one to use?

 

[Flowerofthefen]

Not sure on the BHS contract but the loaner can insure the horse.

 

[Toby_Zaphod]

The loaner can insure the horse however you would need to know which vet is the one the owner has used., You will need to get a copy of the horse's history & declare the previous injuries/illnesses. The new insurance company will need to know the vets record as the may want to exclude various previous injuries. Not to declare this could result in you having your insurance turning down you wanting them to pay for treatment & you being left with a massive bill.

 

[Tiddlypom]

The BHS loan contract is a good basis. You can amend and tweak it to suit your psricular circumstances.

Re insuring. I strongly recommend that the owner takes out the policy and pays the premiums, and that the loanee reimburses the owner for the premiums. That way the owner knows exactly what the cover is and that the premiums are actually being paid.

Never rely on any loanee to be actually telling the truth re what they are paying out for eg dentist, wormers, saddle fit etc - bitter experience.

 

[Britestar]

I pay the insurance on my loan pony. It was the only condition of the loan. We agreed a value, and what needed covered. We use the same vets, and owner requested that pony was transfered to my account.

She belongs to a friend who lives next door, so she can see her whenever she wants.

 

[Lady Jane]

I loaned, used the BHS contract (worked well with a few tweas) and insured the horse I had on loan. As there was no vetting I had to get the clinical history from the owners vet for the insurance company - that was KBIS

 

[maya2008]

I would strongly suggest you keep insuring the horse as the owner. If needed, get the loaner to reimburse you cost of premium. Otherwise, if something goes wrong, you could get a broken horse back that is now uninsurable for whatever it just did to itself. If you are insuring, at least you get a year’s worth of vet fees paid! I say this having had just that happen.

 

[doodle]

When my horse was on loan I carried on paying the insurance and the loaner paid me back. It meant I knew she actually was insured and reduced the chance I wound get a broken horse back plus vet bills.

 

[Marigold4]

Thanks, everyone. I'm going to insurance loan horse myself initially.

 

[ihatework]

I loan out horses of low/no value and of high value. Irrespective I hold the insurance policy and the loaner reimburses me the premium. That way I can guarantee cover and also continuity of cover if the loan were to end