Insurance Question - How does it really work?

[Gropony]

Hi all. I bought my pony without a vets visit (for various reasons) and therefore had very little choice of insurance as I didn't have a certificate. My premium per month is therefore double what it would be if I had a vet's certificate. The cost of a certificate would be paid off in four months.

However, as I don't fully understand how the insurance cover really works in practice, I have been reluctant to do the vets visit and move the cover. At present he is fully covered for accident, sickness and colic surgery, but not for any orthopedic shoeing or laminitis, vaccines etc. He has uveitis but this is excluded from his current cover anyway, so not a reason to stay. He has an old splint on one leg that would show up. I want to move to reduce the premiums but also because at the moment I am not covered for boarding costs in the clinic, just the procedures, and the cover is limited to the maximum of his value. I paid EUR 3,500 for him, so it is not a lot (although he is probably worth more).

I have heard stories from friends where they don't claim on the insurance anyway because afterwards that issue is excluded, so for example, a field injury to a leg that cost GBP 700 isn't worth claiming because after you might have a bigger cost relating to the same limb and you can't claim.

How does it work in practice? I really want the cover for colic and surgery, not for everyday costs. I know that I could forgo the insurance and put money aside, but I also know what vets bills can get very big, very quickly. And I also have to put money aside for the uveitis. Is it worth doing the visit and moving?

I am in France, and so far I haven't found cover that would just do colic and surgery, it is either death only or the cover that I have (or more).

 

[smolmaus]

I have heard stories from friends where they don't claim on the insurance anyway because afterwards that issue is excluded, so for example, a field injury to a leg that cost GBP 700 isn't worth claiming because after you might have a bigger cost relating to the same limb and you can't claim.

This doesn't work this way. If a vet sees the horse for the field injury it will be in the vet history and subject to exclusions whether you claim or not. Unless you do some fraud about it and get a different vet to see to the horse and then don't declare it later.

I can't help on insurance types available I'm afraid. I think from what you've said I would get a vert cert and get the same type of cover you have now with another provider, who presumably will have lower premiums now that he's been vet checked?

 

[Orangehorse]

It sounds as if you have different choices in France. In the UK under a certain value the insurance company doesn't require a vet's certificate. There are also some "Catastrophe" cover which will cover colic surgery, a bad accident, etc, depending on the exact policy but there is a very high excess - the amount the owner has to pay before the insurance company steps in. There are also some companies who have started to offer whole life cover, and I know someone who is very happy that they took out this as their horse has been in constant trouble!

You are insuring for the unexpected and you have to decide what you can afford to lose. If the horse died would you want the full value, if possible, or have you spent the money on the horse and don't expect to get it back, but you want peace of mind that if something happened to him you have insurance in place to cover the expenses.

I think when you are clear in your mind what exactly what you want the cover for, it would be worth getting some more quotes. As for not reporting an injury, this only really works if you don't need to call a vet.

 

[Gropony]

Thank you. I would want to cover accident, sickness and death, specifically clinic related expenses. I am covered for theft, accident, death, vets fees, surgery excluding the stay in the clinic, orthopedic shoes and vaccines. Otherwise I can only cover death and accident, whihc is not enough.

I will do a vet's certificate and at least then I have a better choice of cover at more reasonable prices.

 

[Tiddlypom]

Insurance rules/cover/how exclusions come into effect might be different in France.

 

[Gropony]

This is true, although I think that they are similar. But what does differ is that I cannot get a 0% credit card or personal loan or similar. Banking is very conservative. I don't actually have a credit card at all here. So I need to either be covered or have the cash.

 

[Polos Mum]

I think most of us here are in the UK so the rules might not apply. It is probably best to speak to a local French broker and see what they can find for you that suits the cover you are looking for in your geography.

Brokers have a good overview of what is available and what is best priced

 

[Jambarissa]

What do other horse owners tend to do?

I don't understand the premium being higher because you didn't have him vetted, here that would just mean we couldn't insure the horse for more than (usually) £5000. If it'd bring the premiums down could you have him vetted now?

 

[HopOnTrot]

You probably need to consult an insurance broker locally to confirm the most effective cover option.

 

[Suechoccy]

Do you need insurance for vets fees? Can you just have a liability insurance for your horses and then put money into a savings account or have access to a credit card for if you ever needed a big vet bill paid?

 

[Gropony]

I do because I can't get a credit card here so I would need the cash. I already have to put money aside for the uveitis because it is excluded, so I prefer to be covered for other issues.

I think that I will get him vetted now and see what options for cover I then have.

I guess I am just paranoid now after the uveitis that the vetting will uncover other issues and I will end up with exclusions (not that there is any reason to think that it will!).

 

[Nicnac]

Honestly? I'd get public liability and put insurance amount into a savings account. Vet fees are much cheaper in France than here and equine insurance isn't as sophisticated.

Look at the excess you would have to pay too for any treatment.

Personally I would never put a horse through colic surgery as it's rarely successful and colic reoccurs as well as being incredibly expensive. My vet who is a 5* eventer agrees.
Do you have a UK bank account for a 0% credit card? Or a family member here who could help?

Revolut do a credit card to €50000.

 

[Gropony]

Thank you for this insight. I do have a UK bank account - I would need to check regarding the credit card. I will also take a look at Revolut. I did have just the liability and death and accident insurance, but after the uveitis occured within three months of owning him, and I hadn't saved very much at this point, I had a slight panic and upgraded to cover vets fees as well for sickness!

 

[Red-1]

I cover for vets fees until I have an exclusion. Once I have an exclusion, then I stop insuring and just have a savings account. This is because the exclusion is the very thing that is likely to go wrong (hence being excluded) so I need to save the money to cover it.

One of my horses is covered, no exclusions. Rigs is old with much vet history, so he is not covered.

I would not do a colic operation. As I understand it, the success rate for them coming through it is good but the success rate for them still being healthy in 5 years time is bad.

I do have a public liability cover on Rigs and considered a cover for external injury. The only reason I didn't is because Rigs is built like a tank LOL. If he gets cut, I'll just pay to stitch it up. If he had a serious joint injury with infection, that wasn't cleared with antibiotics and flushing, then he'd probably be PTS.