Insurance for loan horse

[NewAndClueless]

Hi all - new to the forum.

Currently in the process of getting a loan or loan to buy pony for my teenager. How does it work with insurance? Should we cover it or is it the responsibility of the owner until they decide to sell to us?

I'm talking vet cover insurance, not riders (already have that).

Many thanks!

 

[MarvelVillis]

Hi, welcome I put my horse out on loan at the beginning of the year and I kept the insurance and the loaner set up a standing order to transfer the premium to me each month. I rang the insurance company to give them the loaner's name though. It just gave me peace of mind that he was adequately insured and made it easier if he had to come home again (which he did recently).

 

[ihatework]

Agree, owner takes out and pays policy direct, but it’s not uncommon for loaner to reimburse owner all or part of the premium.
Make sure that, as a loaner paying premiums, it’s clear in your loan contract that any vets fees you pay that get reimbursed by insurance to owner, are due by owner to be paid to you.