Insurance - help please :-)

[Mrs C]

Sorry, an age old question!
I've not had insurance before - was paid on my loan horse by the owner.

New horse however the monthly cost is coming out more than my livery! I'm hoping I'm doing something wrong!
How much do you pay monthly please and what for/what does include and with who?

Thank you

 

[milliepops]

Depends what your livery costs

I have just set up a policy for a horse that is about £40 a month for vets fees only, no loss of use etc, not an expensive horse and class of use is fairly low (dressage up to elementary).

My advanced horse was more like £100pm for a similar policy

what have you chosen to cover on your quote?

 

[Michen]

I use insurance emporium. £35 for one horse and £56 for another. Vet fees up to 5k.

One horses insurance has just gone down by 83p a month on renewal- win

 

[Birker2020]

Sorry, an age old question!
I've not had insurance before - was paid on my loan horse by the owner.

New horse however the monthly cost is coming out more than my livery! I'm hoping I'm doing something wrong!
How much do you pay monthly please and what for/what does include and with who?

Thank you

Current horse £95 per month with excess of £250.
Vets fees are £5000 per incident. SEIB

 

[Mrs C]

I must have been adding on all the extras?! Was 160 a month for a 9k horse! I'll give them a ring and thank you

 

[Deltofe2493]

I am with Insurance Emporium via Equeshure - £76 per month.

I think the more expensive the horse, the higher premiums. I also saw that 5 stage vet certificates may be required depending on company / cost of horse.

Mine includes:

Vets Fees Yes Cover - Full Cover Value - £4500 per condtion
Excess - £160 plus 17.00% of the remaining cost of the claim
Transport & Livery costs - up to £400 No Excess
Third Party Liability Yes Cover up to - £1 Million Excess - £0
Permanent Loss of Use Yes Cover up to - 100% of the sum insured
Death & Loss by Theft or Straying Yes Sum Insured - £3500 or the market value (whichever is least)
Disposal Yes Sum Insured - £200
Personal Accident Yes Sum
Insured - £20000

 

[MidChristmasCrisis]

I pay 168 for two..everything except loss of use and two riders insured on it too.

 

[Lady Jane]

I must have been adding on all the extras?! Was 160 a month for a 9k horse! I'll give them a ring and thank you

I wonder if you have loss of use. That bumps the price right up

 

[Mrs C]

I wonder if you have loss of use. That bumps the price right up

Yes I did select that. 9k is a lot to lose if I had to retire but suppose I could exclude that x

 

[Peglo]

Mines £109 a month buts that’s for death and loss of use. I’m planning on ditching loss of use after hearing opinions on here. That’s for a 4k horse with NFU.

 

[Orangehorse]

Loss of Use is very expensive and also very hard to get the insurance company to pay up. You need to read the small print carefully because some Loss of Use will not pay up if the horse can by ridden, but not at a competition level.

 

[Mrs C]

Argh I've tried taking everything off and just covering vets and still over 100 a month! How qre people getting under 40?! X

 

[eggs]

Mine are home breds so I just insure them for a minimal value. My tack is covered under my house insurance (horses are kept at home) but a lot of policies will only cover tack if there are less than a certain (fairly low) number of horses on the yard. My 3rd party liability is covered by my membership of BD. I never cover for loss of use as that really pushes the price up and anecdotally is very hard to claim for.

 

[milliepops]

Argh I've tried taking everything off and just covering vets and still over 100 a month! How qre people getting under 40?! X

really inexpensive horses in my case!

 

[asmp]

Argh I've tried taking everything off and just covering vets and still over 100 a month! How qre people getting under 40?! X

I don't insure now as horse is too old with too many exclusions but I used to insure with Shearwater who are brokers. They would find me the best deal and I'd often add things or take them away depending how much I wanted to spend. Might be worth giving them a ring.

 

[ihatework]

Argh I've tried taking everything off and just covering vets and still over 100 a month! How qre people getting under 40?! X

I never insure horses for their true value. If I insure, it’s generally for the lowest amount the insurance company will allow. I insure primarily for vet fees cover and consider the purchase price burnt the minute the horse arrives

ETA - actually that’s not quite true. A couple of times I’ve bought a horse in prime age. Because I’m generally suspicious of sellers those in the ‘I might be being done’ bracket get fully insured for LOU for the first year. Then dropped down to just vets. That strategy paid off for the dud I bought once and was done over on

 

[Polos Mum]

Yes I did select that. 9k is a lot to lose if I had to retire but suppose I could exclude that x

If you search on here getting loss of use to actually pay out is really really difficult - so for a mid priced (not £50k race horse) horse isn't worth it.

You could be in a situation where your vet suggests PTS is best answer but insurance still won't pay out as the small print on meeting criteria are v hard to achieve.

I would also take a careful look at your vets certificate and be happy that anything even noted as a non issue on that will be excluded. Value above £5k they will insist on a full vetting and at £9k might even need x rays

 

[throwawayaccount]

I never insure horses for their true value. If I insure, it’s generally for the lowest amount the insurance company will allow. I insure primarily for vet fees cover and consider the purchase price burnt the minute the horse arrives

ETA - actually that’s not quite true. A couple of times I’ve bought a horse in prime age. Because I’m generally suspicious of sellers those in the ‘I might be being done’ bracket get fully insured for LOU for the first year. Then dropped down to just vets. That strategy paid off for the dud I bought once and was done over on

Hi- just wondering as I’m going to be getting my gelding insured once I’ve bought him- do you declare the true purchase price or do you change that, if you then insure the value as less? X

 

[ihatework]

Hi- just wondering as I’m going to be getting my gelding insured once I’ve bought him- do you declare the true purchase price or do you change that, if you then insure the value as less? X

You have to be honest about what the purchase price was.
But plenty of companies will let you under insure.

 

[Mrs C]

Sounds like I need to under insure. So far I've not managed to get under 95 a month and have only asked for vet fees covering!

 

[milliepops]

what are you putting as your class of use? that may also have an impact. mine rocketed up when she hit higher level competition.

 

[Lady Jane]

Argh I've tried taking everything off and just covering vets and still over 100 a month! How qre people getting under 40?! X

By having much less cover! Mine is a bit ober £100, value about the same as yours, bells & whistles without loss of use.
Increase your vet fee xs helps & make sure you have the right class of use

 

[poiuytrewq]

Argh I've tried taking everything off and just covering vets and still over 100 a month! How qre people getting under 40?! X

I think a lot has to do with the value of the horse. Run two quotes one for £9000 and one for £2000 and the difference will be HUGE
I keep my premiums low as I’m only bothered about getting the £5000 vets fees, so I value my horses at £1000 and loose out on the purchase price if anything gos wrong.
If I lost him I’d have to suck it up and save for another instead of getting a payout.

 

[little_critter]

I tend to reduce the premium a bit by opting to have a slightly higher excess.

 

[Lady Jane]

I think a lot has to do with the value of the horse. Run two quotes one for £9000 and one for £2000 and the difference will be HUGE
I keep my premiums low as I’m only bothered about getting the £5000 vets fees, so I value my horses at £1000 and loose out on the purchase price if anything gos wrong.
If I lost him I’d have to suck it up and save for another instead of getting a payout.

I've done that too sometimes

 

[Toby_Zaphod]

We've had various companies over the years but premiums went through the roof. For the last few years we've been with 'Horse Insurance' and to be honest they've been brilliant. One of our horses had COPD and he needed various dugs administered ideally through a nebuliser. Our vets sent a bill off to an old insurance company, SEIB. We had a reply from them saying that they had no record if us being currently insured with them, no problem and they added that they did not cover the purchase of a nebuliser (in excess of £800). 'Horse Insurance' paid for the nebuliser & all treatment. We had another claim on another horse with the same company they paid in full without any issues. I was sceptical about the company, their premium was quite low compared with other companies but we'd been recommended by the daughter of the yard owner so we went with it. I can't sing their praises enough, they were brilliant. Try them, let them give you a quote.

 

[maya2008]

Insure the horse for £500 so basically vet’s fees only. That brings it down hugely.