Insurance Q re veteran plan

[lynspop]

I have my old boy insured with Petplan using their veteran plan. He is going to be 21 this year and I am almost 100% sure that I will be retiring him this year.
He has been insured as a class 2 for hacking etc and I notice on my insurance documents there is a class 1 for retired horses etc- obviously I will be informing Petplan when he is retired, because I presume he is then changed to a class 1?
Will this affect the price of my insurance and does it affect what you get in terms of insurance cover?

 

[Elbie]

Your premium should go down, however, if you make this amendment in the middle of a policy period you won't get the money back until it ends (for some annoying reason insurers can take more money from you halfway through but can't refund it until the policy ends - had the same issue with my car insurance!).

It won't affect your cover. However, your horse will only be covered for retirement, so you won't be covered if you decide to ride him as a one off

 

[dianchi]

Might be worth looking at Scottish Equestrian- sister company to PP, they always come out cheaper I've found and they just have two sections A & B. So A will still cover retired but also if you do decide to have a little hack your covered!

 

[Elbie]

But if you do cancel and go to SEIS you would have to go onto their veteran plan which may not pay out as much for vet fees, whereas I'm guessing you haven't had to take out a veteran plan with PP yet?

Have a look at the policies as depends what you are looking for.