Insurance getting too expensive!

noblesteed

noblesteed

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Hi all,
Just got my renewal quote for my 15hh 14 yr old connie x iberian gelding. £600!!!!!!!! I've never made a claim for him in the 5 years I've had his policy, he has no previous injuries or vices etc. Basically he's pretty low-risk. He's in light work due to me having a young family and being pregnant, he's being hacked out by a friend and that's all. No competing any more due to lack of time and money. He's at a livery yard with tack stored on-site. I've got his value as £2500 which is prob a bit high now, and he's insured for vets fees up to £5000.
Any ideas about how I could reduce his premium? I'm with NFU as they have a good reputation but I just can't afford £50 a month when I'm shortly going on maternity leave.
He's a lovely horse and I don't ever intend to part with him, but he is a lami risk so I wouldn't want him completely uninsured, but neither would I ever put him through intensive surgery as I don't know if he could cope.
ANy ideas? I am going to ring them but would like some ideas of how to cut costs before I do so.
 
I would shop around I had a dreadful experience with NFU when my cob died. They took premiums for a horse reported as deceased and asked 50 million questions of the vet for a 32 year old horse who died at home under the care of a vet. It took 8 months for the claim to be paid and I found it upsetting to constantly recieve letters about the process etc.
 
A higher excess,
lower tier of 3rd party cover (ie £3m down to £2m),
not including tack,
lower the value of horse if horse was £2000, insure for £1000,
reduce the type of activities the horse is insured to do
reduce the level of cover for vet fees



...are all ways that I have personally cut the cost of insurance. My 3 were costing me £130 a month with Petplan, by doing all of the above things I managed to get it down to £91 (still with PetPlan, I didn't do all the cuts on all the policies, but some across the 3 of them) I plan to have a higher excess on the 3rd one when it renews in June, will save another £5-10 a month there by doing that.
 
Dropping the value the horse almost halved my premium. Horse was insured for his purchase price many years ago. Now semi retired so dropped down to £1000 which is the minimum on the particular policy
 
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