Insurance question - this seems crazy!!

[nativepony]

Hi everyone, got my renewal for my insurance through the post and am really confused as I seem to be paying a load of money for not very much at all. Can I just see what you think?
She is a 19 year old NF mare used for hacking, i'm covered for third party liability, £5,000 vets fees, no tack as it was stolen twice and they wouldn't pay up as the locks weren't sufficient so I took it off the cover and she is insured for £1,500 which is what I paid for her but that was 12 years ago! There are so many exclusions on the cover it seems ridiculous - allergies and allergic reactions, disorders of the right eye, laminitis or connected to, cushings or connected to, conditions causing the clinical signs of colic, skin allergies, and tendon and ligament disorders, both hindlimbs. For this I pay the grand total of £541.76 with PetPlan.

This seems like an awful lot but is it? Should I have her insured for £1,500 (she's not worth that now, has cushings, sweet itch and is 19, but priceless to me of course!) and is it even worth having insurance when all the major things, ie, colic, cushings, laminitis aren't covered anyway?

Does anyone have any advice please?

 

[riding_high]

when i bought my lad i got him insured, i was told that he wouldn't be covered for 3 legs or back, liver problems and some other things, they also said that even though they haven't excluded the 4th leg it would be unlikely they paid out on it because the other 3 legs had had problems so putting more pressure on the 4th one! stupid cos he had 2 legs damaged hunting years before and the 3rd leg was damaged due to hooning around the field.
in the end i didn't bother with the insurance and just got 3rd party liability. wasn't worth it in my opinion.

 

[smiffyimp]

Blimey, I'd be asking questions.....Im with Petplan who I think are great. My 32yo is insured on the old veteran policy (ie limited vet bill pay out - accidental/external injury up to £1000) 3rd party liabilty (he's retired now but covered for me riding when i did) insured for £1500 and a saddle - £1000 (he still has one). I pay £10.91 a month. He has a couple of exclusions where he booted himself - i'm afraid all insurance companies will add exclusions!. If thats what they charge you for yours, i'd be cancelling the policy and either looking elsewhere or joining BHS get their free liability cover, and have a saving account for vet bills.
PS My 7yo is isnured for eveything plus tack etc and he only comes in at about £500 a year!

 

[Hippona]

I now just have mine covered for death/theft and straying with PP and I am a BHS Gold member - simply for their public liability/3rd party cover.

Works out a lot cheaper.....vets fees I always ended up paying anyway as it always seems to be just under the excess. Anything big and I would either find the money, put on CC or PTS (depending on which horse, what the problem was and prognosis of course)

Insurnace seems to be going up - plus they always try to find a way of not paying out too......

 

[MrsMozart]

Yikes!

A lot of places have restricted insurance cover, so check that they know how old your horse is - I know they have the details, but just in case!

When I looked at moving LL (twenty-five-ish), the restrictions were ridiculous. Plus they would only pay out max £500 or market value, whichever was the lowest... They wouldn't pay for illness or disease. So, doesn't really leave a lot! Especially as we have third party cover through BHS Gold membership.

 

[Topstripe]

I am the Senior Equine Underwriter for Towergate AIUA (Towergate Equine) and would be willing to give you advise on your insurance if you would like to PM me.
Any questions just ask
x

 

[nativepony]

Thanks for your replies - have just come off the phone to PetPlan and have changed her policy over to a veteran one, this means she is covered just for injury rather than illness but seeing as most illness related things (ie. cushings, laminitis, colic) are excluded anyway it seemed the most sensible option. I am now paying £133 a year which is a HUGE saving!

Am now stressing that its sods law she'll get ill with something which I can no longer claim for!!

 

[ladyt25]

I am the Senior Equine Underwriter for Towergate AIUA (Towergate Equine) and would be willing to give you advise on your insurance if you would like to PM me.
Any questions just ask
x

Hey Mrs - you're as bad as me, you see the insurance query and immediately go have a look!! Lol

nativepony - my 19 yo is with PP and has been for years. I have the illness cover til he is 25 and it certainly isn't that costly (although it's not cheap either!). I had reduced his value though but i think it too is about £1500.