Insurance for horse on loan

harvgj19

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Joined
9 January 2006
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3,400
Location
Georgia, US of A
My horse has been out on loan for almost 5 years now. He has been with the present loanee for going on 2 and a half. Up to now I have always insured him, and told the company that he was on loan and given permission for the loanee to contact them if a claim is necessary, though I still had to sign any claim forms etc.

Now the renewal is here and we find ourselves in a position where money is very tight. My horse is 16 this year and only a happy hacker. I have moved abroad, and am not in the position to buy another if I lost him. He is only insured for death and vet fees, with a high deductible.

I am considering not renewing the insurance, but contacting the loanee and sending her the renewal notice so she could continue the policy herself if she wanted to. Do you think this is the right or wrong thing to do?
Any opinion or advice welcomed!
 

zoeshiloh

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Joined
23 January 2006
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2,771
Location
Suffolk
In my loan contracts I state it is up to the loanee to insure the horse, but if they choose not to, they then have to cover all veterinary bills, and/or pay me the amount he would have been insured for(stated) in the case of his death. This way it is up to them to take the risk.

My broodmare which is going on loan is insured, but to make things easy, I am continuing the payments, and the loanee is paying into my bank account each month to cover the policy amount. We have notified petplan that the horse is on loan at another address.
 

harvgj19

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Joined
9 January 2006
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3,400
Location
Georgia, US of A
Thanks Zoeshiloh. I think I will give her the choice. At this point his monetary value is not important to me, just his wellbeing, and she takes excellent care of him.He is only fit for happy hacking due to a previous leg injury. She has always been responsible for vets bills, but if anything serious had happened she could initiate a claim and I would sign on it, but anything not covered by insurance had to be paid by her.
 

Passtheshampoo

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20 September 2008
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1,121
Last two loan ponies we've had I've agreed to insure them but let my insurance company have owners details should they pay out on loss of horse. Excess for vets fees would be with me two. It's just like owning your own isn't it with the same responsibilities. As someone alse has said if they don't want to insure your horse for vets/loss of horse include their responsibility to pay out if anything should happen. By the way I certainly wouldn't put any horse of mine on loan without the loanee having public liability cover as that can run into £100'sK plus.
 
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